Wall Street flags as hopes fade (BBC)

[eppur_se_muova]

Wall Street shares have fallen, as optimism about central bank measures to ease the credit crunch faded.

Investors were also concerned by the rise in oil prices, which reached another record above $110 a barrel.

Stock markets worldwide had earlier rallied on news of co-ordinated action by central banks to inject cash into nervous credit markets.

The widely watched Dow Jones industrial average ended down 0.38%, a day after its biggest rally in five years.

European shares had closed higher, with London's FTSE 100 up 1.5% and Germany's Dax 1.2%.
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more: http://news.bbc.co.uk/2/hi/business/7291171.stm

[thunder rising]

1. Worry about the corporate earnings ... the starving PEOPLE in the street are on their own!

"People are trying to assess how the Fed's move will begin to benefit corporate earnings and move the banks along to start loaning money."

[bhikkhu]

2. Amazing how little 200 billion gets you these days...

Like the first few smaller bailouts, the confidence only lasted a couple of days. I have read predictions that "the big one" is not likely until September or so...hard to imagine we have that long at this rate.

[Hannah Bell]

3. 500 billion is a year of Social Security, but we can't afford that..

no problem spending 200 billion to prop up the banks for a couple of days, though....