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Front Page News arrow Newsflash arrow US Stocks Tumble Ahead of House Bailout Vote
US Stocks Tumble Ahead of House Bailout Vote Print E-mail
Written by By ROB CURRAN and AJA CARMICHAEL NEW YORK   
Thursday, 02 October 2008

US stocks traded lower as investors anxiously await the House's vote on the $700 billion rescue package, which the Senate easily approved late Wednesday.

In addition, new jobless claims hit their highest rate since September 2001 and General Electric priced a follow-on offering of shares far below its market price, a one-two combo hitting investors' confidence.

Shares of GE fell $2.37, or 9.7%, to $22.13. GE sold $12.9 billion in shares at $22.25 apiece, joining a string of financial giants that have been forced to raise capital in recent weeks.

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Last Updated ( Thursday, 02 October 2008 )
 
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