Wall Street plunged in another erratic session today as investors worried that the slumping US economy may not only cripple mortgage lenders like Countrywide Financial, but also create problems for other companies like AT&T. The Dow Jones industrials fell nearly 240 points.

Wall Street ended a record-setting week quietly today, closing inches above 12,000 after a lacklustre profit report and forecast from Caterpillar dampened the market’s good mood and prompted many investors to pull back.

Surprisingly calm US investors pushed stocks higher today, helping Wall Street recover from early losses after the London terror attacks.