Due to a seven-year high in jobless claims, stocks fell Thursday due to the fear that the financial bailout would not help against a recession. For example, the Dow Jones fell 300 points, the fourth time it has fallen by three digits, in the past month.
The stock market is closing watching the vote on the bailout, and are trying to determine what it could mean if it passes. Many believe it will help the credit markets.
The jobless rate is the highest it has been since the terrorist attacks on 9/11. Much of the rate comes from the coastal cities in Texas and Louisiana, about 45,000, due to Hurricanes Ike and Gustav.
