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Stock Market Tumbles

By The Associated Press

The Dow Jones industrials closed down more than 500 points, its worst one day loss since 9/11. Stock Market Tumbles

Published: Mon, September 15, 2008 - 2:18 pm Last Updated: Mon, September 15, 2008 - 2:20 pm

NEW YORK (AP) - Wall Street dropped precipitously Monday, with
the Dow Jones industrials suffering their worst point drop since
the The stock market has suffered one of its worst days in years as
investors reacted to a stunning reshaping of the landscape of Wall
Street that took out two storied names: Lehman Brothers Holdings
Inc. and Merrill Lynch & Co.
The Dow Jones industrials are down more than 504 points, their
sixth-largest point drop ever and their worst showing since the
aftermath of the Sept. 11, 2001, attacks.
Investors were shaken by Lehman's bankruptcy filing and what was
essentially a forced sale of Merrill Lynch to Bank of America for
$50 billion in stock.
While those companies' situations had reached some resolution,
the market remained anxious about other companies. Among them:
American International Group Inc., which is seeking emergency
funding to shore up its balance sheet.

(Copyright 2008 by The Associated Press. All Rights Reserved.)