Updated from 10:38 a.m. EDT
Stocks on Wall Street took a plunge Monday as traders awaited action by Congress on government support for the financial sector and assessed Citigroup's (C Quote) government-assisted purchase of Wachovia (WB Quote).
The Dow Jones Industrial Average dropped 272 points to 10,871, and the S&P 500 lost 40 points to 1173. The Nasdaq plummeted 89 points to 2095.
Friday, the three major indices started in negative territory but finished at session highs after President Bush said Treasury Secretary Henry Paulson's proposed $700 billion aid package for the financial system would soon pass through Congress. Traders also were contending with the failure of Washington Mutual (WM Quote) and its subsequent sale to JPMorgan Chase (JPM Quote). ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,281.05 | 1,088.31 | 2,124.70 | 32.25 |
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