The Dow Jones October 29 Year 2008

The Dow Jones October 29 Year 2008

Fed cuts key interest rate half-point to 1 percent-
The Federal Reserve slashed a key interest rate by half a percentage point, driving it to a level seen only once before in the last half-century, and the government finally began distributing funds from the billions in the financial rescue package.

4:40 pm : The stock market settled with a 1.1% loss Wednesday after late-session surge made in the final hour following an FOMC rate cut was reversed in the final minutes of trade after headlines hit the wires that raised concerns regarding General Electric's (GE 19.20, -0.29) revenue in 2009.

Asian stock markets surge after Fed rate cut
Thursday October 30, 1:23 am ET
By Jeremiah Marquez, AP Business Writer
Asian stock markets surge after rate cut by Fed; South Korean index jumps 12 percent


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