Rejection of automakers' plans main cause of market tumble
Associated Press
NEW YORK — Wall Street's March rally is on hold after the White House rejected turnaround plans from General Motors Corp. and Chrysler and gave investors an economic reality check.
Despite the two-day retreat, the Dow is still up 975 points, or 14.9 percent, from its low of 6,547.05 on March 9, when it ended at its worst level since April 1997. The S&P 500 index is still up 16.4 percent from its low.
