Wall Street rebounds, pares massive losses

Investors hoping for a resolution to ongoing global financial crisis NEW YORK - Wall Street rebounded from an huge plunge in an extremely volatile trading session Friday, as investors hoped for a resolution to the global credit crisis. According to CNBC, investors traded shares higher in late-afternoon trading in the hope that this weekend’s meeting of the Group of Seven major nations is likely to result in a meaningful new proposal to help the current international credit crisis. The Dow had dropped below the 8,000 level in early-afternoon trading. It breached that level level in the opening minutes of trading when the Dow plunged 700 points and recovered to an advance of more than 100 before turning sharply lower again. But the Dow had lately worked off its earlier losses and was up 100.75 points, or 1.17 percent. At its... [read full story]