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    • federal funds rate by a half-point to 1.
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  • Posted: 10/9/08
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The Dow Jones industrial average ended down 189.01, or 2.00 percent, at 9,258.10 after changing direction 36 times.
 
A stock market empowered by an emergency interest rate cut tried to find some stability Wednesday, rallying several times before another
late-day drop left Wall Street down for the sixth straight day.
 
The Standard & Poor's 500 index, the market measure most closely followed by traders,  fell 1.13 percent — compared to a 3.85 percent slide
Monday and a 5.74 percent drop Tuesday. The Dow Jones industrials fell 189 points,

The Fed lowered the target for its federal funds rate by a half-point to 1.5 percent from 2 percent, saying in a statement that the turmoil in financial markets
posed a further threat to an already shaky economy; it was joined in the rate cut by the European Central Bank, Bank of England, The Bank of Canada,
the Swedish Riksbank and the Swiss National Bank.

If you've got some cash tucked away somewhere not doing anything (and not already invested in AAPL),
Jim Cramer said Tuesday that Toyota (TM) is his favorite automotive pick. Actually he said, " BUY! BUY! BUY!"

Sincerely,

Oliver Hudak

http://www.collegestock.com/
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