Stocks retreat after big day
Associated PressPublished March 13, 2008
Wall Street's euphoria over a $200-billion plan from the Federal Reserve turned to caution Wednesday, leading stocks to retreat a day after their biggest rally since 2002. Investors largely regard the Fed plan to lend Treasuries in exchange for debt tied to mortgages as an innovative means of bringing some relief to the tight credit markets. But they are hesitant to pour more money into stocks without signs that the decision will help turn around the economy.