Blue-chip shares rebounded again on Wall Street yesterday but most stock measures posted heavy losses amid doubts that anything will be done to halt the global economic crisis.

The Dow Jones industrial average rallied back from an afternoon deficit of 232 points, briefly edging into positive terrain before finishing 58.45 points - or by 0.75 per cent - lower at 7,726.24.

The barometer of 30 major companies, which lost 244.08 points last week, sank as low as 7,552 yesterday and 7,530 on Friday. The market's summertime slide saw the Dow sink as low as 7,400 on September 1, a day after it plunged 512 points to 7,539, the lowest close of 1998.

Despite the late recovery, however, the Dow remains about 200 points below where it started the year and 1,600 points beneath the July 17 record close of 9,337.97.