Wall Street manages late turnaround
(AP Photo/Richard Drew)
What a comeback!
The Dow Jones industrial average was down more than 340 points Thursday. But it finished the day with a loss of just 13. The turnaround came late in the session when bargain hunters lured by weeks of massive declines came back to the stock market.
A BAD START
Stocks plunged at the opening after Countrywide Financial tapped its line of credit in order to keep operating, confirming investors' fears that credit problems are spreading. And for most of the day, investors ignored the Federal Reserve's injection of $17 billion into the banking system.
IS IT ALL GOOD?
Uh. Not exactly. Investors want to turn stocks around. But Wall Street is still in an uncertain place, having been pounded by weeks of losses including triple-digit slides in the Dow.]
THE NUMBERS
According to preliminary calculations, the Dow fell 15.69, or 0.12 percent, to 12,845.78.
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