Burlington Northern Santa Fe Corp. (BNI)

[sumisu]

Railroads sink after House rejects bailout

Monday September 29, 3:11 pm ET

Railroads plunge after House rejects $700 billion emergency rescue plan

http://biz.yahoo.com/ap/080929/railroads_sector_snap.html?.v=1

NEW YORK (AP) -- Shares of railroads lost more ground Monday after the House of Representatives rejected a $700 billion emergency rescue plan.
The Dow Jones industrial average fell as much as 705 points after the announcement. The vote was expected to be close, but widely expected to pass.

Railroad stocks have been falling recently as investors react to sluggish volumes and infrastructure damage from hurricanes along the Gulf Coast.

In afternoon trading, Union Pacific Corp. fell $4.29, or 5.9 percent, to $68.98 and Burlington Northern Santa Fe Corp. lost $6.78, or 6.9 percent, to $91.56.

CSX Corp. fell $2.08, or 3.7 percent, to $54.31.