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Jewelers decline after House rejects bailout bill



By AP
29 September 2008 @ 03:34 pm EST

NEW YORK - Shares of jewelry companies fell Monday, following the broader market lower after the House defeated a $700 billion emergency rescue package and fear swept across Wall Street.

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Quotes
TIF 19.48 1.62
SIG 8.6 0.66
ZLC 7.85 -0.23
NILE 22.11 0.52

SYMBOL LOOKUP

The rejection came despite urgent pleas from President Bush and bipartisan congressional leaders to help the slumping financial industry.

Many stocks were already down before the vote was announced. The Dow Jones industrial average plunged as much as 705 points.

Shares of Tiffany & Co. declined $5.53, or 2 percent, to $34.66, and shares of Blue Nile dropped $1.02, or 2.4 percent, to $42.04.

Shares of Signet Jewelers Ltd. gave up $1.92, or 8.2 percent, to $21.41, and Zale Corp.'s stock lost 38 cents to $24.50.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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