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December 3, 2008

Stocks rebound sharply after Monday's drop

NEW YORK (AP) — In a session that showed more indecision than conviction, the stock market rebounded Tuesday from the previous day's massive decline. The Dow Jones industrials rose 270 points after fluctuating sharply, and all the major indexes rose more than 3 percent.

Investors wary about the economy drew solace from Ford Motor Co. Chief Executive Alan Mulally, who said the automaker has enough cash to make it through 2009 and might not need government help. Rival General Motors Corp. said late in the day that it needs $12 billion in government loans to continue operating; the news briefly shook the market, but stocks rebounded before the close.


 
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