Congress Rejects Wall Street Bailout

U.S. lawmakers in the House of Representatives voted against the biggest proposed government intervention in the U.S. economy since the Great Depression of 1929.

Government officials, Treasury chiefs and political leaders from both sides of the political divide thought they had agreed Sunday on the details of a $700 billion rescue plan that would prop up the nation's ailing financial system -- and be supported in the House of Representatives.

As it became apparent the vote was lost, the Dow plunged about 500 points on the day.