U.S. stocks on Friday rallied back from stiff losses to end mostly lower after the Dow Jones Industrial Average traded in a 1,000-point range in the final session of its worst week ever, as shaken investors looked for intervention from a meeting of global finance ministers.
The indexes had lunged sharply lower for an eighth straight day, with the Dow industrials sliding nearly 700 points at the start to fall under 8,000 for the first time since 2003 as fears escalated that the trauma in the credit markets could be paving the way toward a global recession.
In Washington, finance ministers and central bankers from the Group of Seven nations are meeting, with economists looking to the gathering for coordinated measures to encourage banks to resume lending to each other. .
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