Dow plunges, Bernanke says bailout won’t work “right away”

October 16, 2008 08:29AM

The Dow Jones industrial fell 733 points yesterday, as the government talked about a possible recession and the federal Commerce Department reported retail sales plunged twice as much as expected in September. Federal Reserve Chairman Ben Bernanke warned that the $250 billion the Bush administration agreed to invest in failing U.S. banks won’t fix the economy “right away.”

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