Wall Street slides on auto bailout fears in Senate stall
Wall Street fell sharply as hopes for a $14 billion auto bailout waned with opposition mounting in the Senate. The Dow dropped 196.33 points to 8565.09, the S&P 500 fell 25.65, and the Nasdaq slid 57.60 as traders weighed automaker aid, unemployment data, and a fragile economic outlook.
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Congress
Big 3 rescue talks stall after marathon Capitol session
Washington ABP reports labor, lawmakers, and auto industry at private Capitol bargaining over a 14 billion dollar federal bailout for General Motors, Ford, and Chrysler. Senate leaders hailed progress while Republicans push wage and benefit cuts to align with Japanese automakers.
MENTIONED IN THIS ARTICLE
Washington
Capitol
Senate
Harry Reid
Nevada
United Auto Workers Union
General Motors Corp
Ford Motor Co
Chrysler LLC
General Motors
Chrysler
Ford
Mitch McConnell
Kentucky
House
U.S
Nissan
Toyota
Honda
United States
Bob Corker
Tennessee
UAW
Law
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