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House defeats $700 billion financial markets bailout, prompting record Dow point plunge

Published 09/29/2008, Associated Press

In a vote that shook the government, Wall Street and markets around the world, the House today defeated a $700 billion emergency rescue for the nation’s financial system, leaving both parties and the Bush administration struggling to pick up the pieces. The Dow Jones industrials plunged nearly 800 points, the most ever for a single day.

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