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Dow Drops Record Levels as House Defeats Bailout Plan

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Dow Drops Record Levels as House Defeats Bailout Plan

House Speaker Nancy Pelosi, D-Calif. walks on Capitol Hill in Washington, Monday, Sept. 29, 2008. (AP/Susan Walsh)

Stocks plummeted on Wall Street before and during today’s vote. The Dow finished with its biggest-ever one-day point drop, more than 775 points. The House on Monday defeated a $700 billion emergency rescue package, ignoring urgent pleas from President Bush and bipartisan congressional leaders to quickly bail out the staggering financial industry. Stocks started plummeting on Wall Street even before 228-205 to reject the bill was announced on the House floor.

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