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Stocks Tumble As Hopes Fade For Immediate Bailout

(AP) – Stocks tumbled in the final minutes of trading Thursdayto levels not seen since 2002 as hopes fade that lawmakers will soon put together an aid package for the U.S. automakers.

The pullback for the second straight day Thursday sent the Standard & Poor’s 500 index down 6.2 percent to 756.81, below the low of 768.63 seen on Oct. 10, 2002.

The Dow Jones industrial average at times lost more than 400 points, falling 4.6 percent, to the 7,636 level, moving below the 7,882.51 low logged Oct. 10 of this year.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

KESQ News Team

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