Dow closes down more than 370 points

September 22, 2008 1:35:35 PM PDT
Wall Street has tumbled again, sending the Dow Jones industrials down more than 370 points as volatility swept across the financial markets. Investors struggled throughout the day with their anxiety about the government's plan to buy $700 billion in banks' mortgage debt. They sought safety during the day in hard assets such as gold and oil, which logged its biggest-ever gain for a single session, at one point soaring more than $25 a barrel in the expiring October contract.

The dollar has skidded lower. And credit markets remain uneasy though they aren't showing the frantic trading they saw last week.

The Dow is down 373 at the 11,015 level.


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