Orange County Register

(Update: Stocks close down.)

Maybe investors just don’t know what to think.

The Dow closed down less than 1 percent today at 9,310, after a day of volatile trading.

Investors started out optimistic about a program outlined by President Bush to invest up to $250 billion in banks to get credit flowing. But early optimism gave way to profit taking and concern over a recession.

And the Nasdaq composite index showed a sharper decline, falling more than 3 percent. (Photo of NYSE by Bloomberg.)

President Bush said, in a speech before the market opened, “It will take time for our efforts to have their full impact, but the American people can have confidence about our long-term economic future.”

Bush outlined a series of other steps, including a guarantee of most new debt issued by insured banks. Read more about the plan HERE, and read a text of his speech HERE.

Read the full AP story HERE.

And in other meltdown news…

• Economic upheaval shocks business owners
• O.C. foreclosure inventory hits 3,300 homes
• Can Wall Street’s record rally aid O.C. housing?
• U.S. to invest $250 billion in banks
• Roth economist: Housing to fall 10-20% more
• Bullish? Dow rockets up 936 as rescue takes shape
• NY Times’ Krugman wins Economics Nobel Prize
• Saturday Night Live skewers AIG excesses
• Should rescue include gov’t buying stocks?

And in other business news…

• Lake Forest called O.C.’s hottest housing market
• Economic upheaval shocks business owners
• Daily tip: help for the mature entrepreneur
• OMG, Tommy’s burger to launch ‘chili to-go’ this week
• Samsung enters PC world with 4 laptops, plus netbook
• Mission Viejo home market weakens
• O.C. foreclosure inventory hits 3,300 homes
• Fresh & Easy offering online coupons
• Can Wall Street’s record rally aid O.C. housing?
• Oktoberfest at Britta’s Café
• H.B. planners vote Tuesday on Bella Terra apts.
• Record rally bypasses 3 O.C. real estate stocks

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