Ouch! It's been another rough day on Wall Street. The Dow plunged 445 points to close near the 7,550 mark. The S&P fell 54 points and the Nasdaq composite lost 70 points.
Let me put this way: It's as if we wiped away the past 11 years.
Here are some other numbers to consider:
– The markets lost $700 billion today.
– Over the past two-days the paper loss is approximately $1.3 trillion.
– About $2.8 trillion has been lost this month, so far.
– For 2008, there's been approximately $8.8 trillion in losses.
How low will the markets go? Tonight we'll talk it over with CNN's chief business correspondent Ali Velshi.
The lingering questions over the fate of the U.S. auto industry are dragging stocks down. The Senate has canceled a vote on a proposed $25 billion bailout package for GM, Ford and Chrysler.
Today lawmakers said the auto industry has until December 2 to show how the money would be used to boost their profits.
"If we don't get this done and they do go under, I believe that we're going to have a deep recession and quite frankly, from what I can pick up, we may just go over the cliff," said Sen. George Voinovich, D-Ohio.
Do you agree?
It's your money, your future. We'll have the latest developments tonight on AC360° at 10pm ET.
Anderson Cooper goes beyond the headlines to tell stories from many points of view, so you can make up your own mind about the news. Tune in weeknights at 8 and 10 ET on CNN.
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