Stocks fell sharply yesterday, but rallied late in the day to end well above the day's lows amid news the United States was sending planes to the Middle East - as the uncertainties of a new economic and geopolitical age brought on by last week's air attacks on America added to worries over scores of corporate-profit markdowns and new waves of layoffs. The turnaround coincided with news that US Defence Secretary Mr Donald Rumsfeld ordered more than 100 military aircraft to move towards the Middle East region in the wake of the attacks on September 11th.
In the third day of trading since the stock market's shutdown after the World Trade Centre was destroyed, the Dow Jones Industrial Average fell 144.27 points, or 1.62 per cent, to 8,759.13. Earlier, the Dow had dropped as much as 423 points, or 4.75 per cent.
Almost 50 companies, including aerospace leader Boeing, media company Viacom and photo giant Eastman Kodak, have warned business would be hurt directly or indirectly by the attacks that toppled the World Trade Centre's twin towers in New York and smashed part of the Pentagon near Washington DC.
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