Stocks Free Fall Today, Despite Federal Rate Cut - KLTV.com - Tyler, Longview, Jacksonville |ETX News

01/22/08 - New York

Stocks Free Fall Today, Despite Federal Rate Cut

It appears Wall Street is largely shaking off the Fed's bold three-quarter-percent rate cut. Analysts say the cut, which came ahead of the Fed's meeting next week, signals the central bank is convinced of serious economic turmoil.

But the Fed's bold move isn't stemming a stock sell-off. The Dow lost more than 400 points right after the opening bell, before recovering some of that loss.

Story courtesy of the Associated Press.

Story posted by Cathryn Khalil, kltv.com.

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