Obama requests rest of TARP funds

(01:54) Report

Jan 12 - The incoming Obama administration is seeking access to the remaining $350 billion of the TARP funds in an attempt to stabilize the U.S. economy. Meanwhile, Citigroup continues to undergo transition as it nears a deal with Morgan Stanley.

  • The Dow ended lower by 125 points to 8473.
  • The S&P 500 finished down 20 points to 870, and the Nasdaq ended lower by 32 points to 1,538.
  • Crude oil settled the session down at $37.59/barrel.

    Diane King reports from New York.

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