Mixed day for US stocks after bank buy-out
Wall Street ended a temperamental session widely mixed today after investors grappled with JPMorgan Chase & Co’s government-backed buy-out of stricken investment bank Bear Stearns.
The Dow Jones industrials recovered from an initial drop of nearly 200 points to finish up about 21 points. The broader Standard & Poor’s 500 and Nasdaq composite indexes ended lower as investors bailed out of investment banks and small-cap stocks and fled instead to large companies apt to be reliable during a weak economy.
