A typical Wall Street trading day on 14 July 2008, Monday as future ticks hopefully upwards speculating a sharp rise before the trading bell starts. When trading commence, the
Dow Jones industrial average (.DJI) increased significantly as the potential mortgage rescue plan by US Government impressed investors broadly.
However, in matter of hours, stocks fell subsequently as fears of more credit crisis fallout hit bank stocks, overshadowing the government's proposed rescue plan for mortgage finance companies
Fannie Mae (FNM.N) and Freddie Mac (FRE.N) as the Dow Jones industrial average (.DJI) declined 52.59 points, or 0.47 percent, to 11,047.95 whilst the Standard & Poor's 500 Index (.SPX) fell 9.65 points, or 0.78 percent, to 1,229.84. The Nasdaq Composite Index (.IXIC) tumbled 24.08 points, or 1.08 percent, to 2,215.00.
Credit jitters caused market sentiment to be greatly affected negatively amidst crude oil price hike as the increase in political tension in two major oil exporting countries, Nigeria and Iran.
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