Dow Down 500 Points as House Rejects Bailout

Cindy Perman|CNBC.com
WATCH LIVE

The market screamed as the House vote on the Wall Street bailout bill teetered on the edge of a cliff — and then fell off.

The bill initially failed to get enough votes, sending the market into a tailspin, as congressmen and women huddled to try to shore up the votes to save it. To no avail: The bill was ultimately rejected, leaving the future of the bailout in question.

The Dow Jones Industrial Average

fell 701.93 at one point — the second-largest intraday move on record — before paring that back to about 500 as investors were left scratching their heads. The S&P 500