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Sharp fall arrested on Wall St
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Sharp fall arrested on Wall St
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Newspaper Article
Sharp fall arrested on Wall St
2001
Overview
After 90 minutes, the Dow had clawed back to be 5 per cent, or 461.73 points, lower at 9143.78. The Nasdaq was down 71.04, or 4.3 per cent, to 1624.26. Federal Reserve chief Alan Greenspan cut the overnight bank lending rate to 3 per cent -- the lowest since February 1994 -- to boost investor and consumer confidence after the worst terrorist attack ever on US soil. It was an emotional and defiant resumption of trading. Hundreds of cheering traders resumed work at 9.33am local time after the four- day suspension forced by the terrorist attack.
Publisher
News Limited
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