Dow drops more than 700 points - Spokane, North Idaho News & Weather KHQ.com

Dow drops more than 700 points

NEW YORK, N.Y. -  A nervous Wall Street that has yet to see credit relief is pushing stocks still lower. The Dow has plummeted more than 700 points, dipping well under 10,000. Investors around the world are becoming more convinced that the financial crisis is spreading to other countries, sending stocks lower everywhere.

The Bush administration's 700 billion dollar rescue plan won't work quickly to unfreeze the credit markets, and many banks are still having difficulty gaining access to cash. That's caused investors to exit stocks and move money into the relative safety of government debt.

Over the weekend, governments across Europe rushed to prop up failing banks. The German government and financial industry agreed on a 68-billion dollar bailout for commercial-property lender Hypo Real Estate Holding. France's BNP Paribas agreed to acquire a 75 percent stake in Fortis's Belgium bank after a government rescue failed.

The governments of Germany, Ireland and Greece also said they would guarantee bank deposits.

The Federal Reserve also took fresh steps to help ease seized-up credit markets. The central bank said it will begin paying interest on commercial banks' reserves and will expand its loan program to squeezed banks.

  • Most Popular StoriesMost Popular StoriesMore>>

  • Spokane man intervenes in terrifying case of road rage

    Spokane man intervenes in terrifying case of road rage

    Thursday, September 21 2017 2:23 AM EDT2017-09-21 06:23:54 GMT

    SPOKANE, Wash. - A terrifying case of road rage could have gotten much worse if it hadn't been for a total stranger. The man went from a spectator to a participant in a matter of seconds. Once James Williams saw there were kids involved in this potentially dangerous situation, the former Marine Corps. medic said he had to do whatever he could do to help.

    >>

    SPOKANE, Wash. - A terrifying case of road rage could have gotten much worse if it hadn't been for a total stranger. The man went from a spectator to a participant in a matter of seconds. Once James Williams saw there were kids involved in this potentially dangerous situation, the former Marine Corps. medic said he had to do whatever he could do to help.

    >>
  • Coeur d’Alene Police search for armed robbery suspect

    Thursday, September 21 2017 9:35 AM EDT2017-09-21 13:35:12 GMT

    COEUR D'ALENE, Idaho - Coeur d’Alene Police are searching for an armed robbery suspect who entered a grocery store demanding money from the clerk at gunpoint. The robbery occurred around 9pm Wednesday at Jordan's Grocery in the 1000 block of N. 15th street. The suspect male entered the store with a handgun and demanded money from the clerk who removed all the cash from the register and gave it to the suspect.

    >>

    COEUR D'ALENE, Idaho - Coeur d’Alene Police are searching for an armed robbery suspect who entered a grocery store demanding money from the clerk at gunpoint. The robbery occurred around 9pm Wednesday at Jordan's Grocery in the 1000 block of N. 15th street. The suspect male entered the store with a handgun and demanded money from the clerk who removed all the cash from the register and gave it to the suspect.

    >>
  • Family, friends remember artist killed in I-90 crash

    Family, friends remember artist killed in I-90 crash

    Wednesday, September 20 2017 11:13 PM EDT2017-09-21 03:13:49 GMT

    SPOKANE, Wash. - When Ryan Foster received the tragic news about losing his sister in a crash on Interstate 90, he couldn’t believe it. He was all the way back east in Jersey City, New Jersey, and got on a plane as fast as he could "Just shock, disbelief. I mean there's still a great deal of it, but at this point it's just about remembering her," said Ryan. 24-year-old Michaelanne Foster is being remembered as a talented artist and a loving and caring sister.

    >>

    SPOKANE, Wash. - When Ryan Foster received the tragic news about losing his sister in a crash on Interstate 90, he couldn’t believe it. He was all the way back east in Jersey City, New Jersey, and got on a plane as fast as he could "Just shock, disbelief. I mean there's still a great deal of it, but at this point it's just about remembering her," said Ryan. 24-year-old Michaelanne Foster is being remembered as a talented artist and a loving and caring sister.

    >>
HD DOPPLER 6i
/