Wall Street sweet, then sour on cut
The Dow dropped more than 200 points in the first minute of trading after enthusiasm over the Federal Reserve’s emergency rate cut wore off. The Fed teamed up with five other central banks around the world to cut rates in an effort to stem the fallout from the spreading financial crisis. Futures spiked immediately following the announcement, but stocks lost steam after the opening bell.
Original post by WP-AutoBlog Import