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Updated from 12:15 p.m. EST
Succumbing to the volatility that has lately plagued the market, stocks on Wall Street were losing ground Tuesday, even as the Federal Reserve announced $800 billion in new federal programs to fix frozen credit markets.
The Dow Jones Industrial Average, up some 164 points earlier, was lately down 133 points at 8310. The S&P 500 was down 12 points to 839, and the Nasdaq was losing 36 points to 1436.
The major averages' earlier opening rally followed the Fed's announcement that it would use $600 billion to buy direct obligations and mortgage-backed securities tied to the Federal Home Loan Banks and Fannie Mae (FNM Quote), Freddie Mac (FRE Quote) and Ginnie Mae. ...
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