18 of 33
BACKNEXT
Tuesday, Sept. 30 - Rebound
After getting smacked down by the sudden defeat of the bailout plan in the House, stocks made a comeback as investors bet that lawmakers would eventually agree on a plan to rescue the economy.

The Dow Jones industrial average rose a whopping 485 points, making up much of the historic 777 point loss in the previous session.

But the credit markets remained frozen. And several closely watched measures of bank lending fear hit all-time highs, as firms continued to hoard funds.

Most of the gains came late in the session after the Federal Deposit Insurance Corporation said it wants to temporarily increase the amount of money it can insure.

The agency's request to raise its $100,000 insurance limit was aimed at making anxious businesses and consumers less likely to withdraw funds from struggling banks. It was also seen by many as an attempt to sway critics of the $700 billion bailout plan.

House lawmakers adjourned for the day in observance of the Jewish New Year. President Bush, meanwhile, took to the airwaves to express his disappointment in the bailout's failure.

"Our economy is depending on decisive action from the government," Bush said. "The sooner we address the problem, the sooner we can get back on the path of growth and job creation."

The bill was set to head to the Senate Wednesday.

NEXT: Wednesday, Oct. 1 - The first hurdle

Last updated September 14 2009: 2:19 PM ET
Email | Print | Share  |  RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
More Galleries
10 of the most luxurious airline amenity kits When it comes to in-flight pampering, the amenity kits offered by these 10 airlines are the ultimate in luxury More
7 startups that want to improve your mental health From a text therapy platform to apps that push you reminders to breathe, these self-care startups offer help on a daily basis or in times of need. More
5 radical technologies that will change how you get to work From Uber's flying cars to the Hyperloop, these are some of the neatest transportation concepts in the works today. More

Special Offer

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.