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Stocks Lower a Day After Record Gains


Wall Street turned lower Tuesday as investors examined the U.S. government's plans to spend $250 billion to buy stock in private banks and collected profits from the previous day's massive advance. The Dow Jones industrial average fell about 200 points a day after its record 936-point jump.

Profit-taking started creeping into the market after the Dow surged more than 400 points at the opening, and it was expected that some investors would take some money out of the market after such a massive gain. Moreover, it was anticipated that Wall Street would continue to see jittery trading in the weeks and perhaps months ahead because of worries about the weak economy...

Economist Lakshman Achuthan said that the government's investment in the banks was a necessary move for their survival.

"If the U.S. Treasury, the U.S. Government, is putting the full faith and credit of the United States behind an institution, a company, the company is not going to fail," Achuthan told CBS News correspondent Anthony Mason...
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