Updated: Tuesday, 14 Oct 2008, 6:55 PM EDT
Published : Tuesday, 14 Oct 2008, 6:55 PM EDT
NEW YORK (AP) - Wall Street has ended a relatively calm day with a moderate decline, with the Dow Jones industrials falling about 76 points as profit-taking set in after Monday's massive advance.
It's the first time in nine sessions that the Dow hasn't closed
up or down in triple digits.
After some early gyrations, stock prices fluctuated during
the day, but the Dow and the Standard & Poor's 500 index were
often in the plus column. Investors were optimistic about the
government's plans to spend $250 billion to buy stock in private
banks, but they also decided to collect profits from the surge that
sent the Dow up 936 points.
The Dow closed at 9,310 level after being up more than 400
and down more than 300. The Nasdaq composite index showed a sharper
decline, falling more than 3% to the Dow's pullback of under 1%, as
investors gravitated toward stocks they believed would benefit most
from the government's financial sector plans.