June 9, 2008 Another discouraging day on Wall Street Play video

(NECN/ABC) - It was another discouraging day on Wall Street. After the Dow plummeted about 400 points on Friday, it managed just modest gains Monday, weighed down by further loses in the financial services sector

Along with the largest one month jump in unemployment in 22 years...there is the skyrocketing price of oil.

In fact, over the weekend, the average cost of a gallon of gas topped four Dollars for the first time ever.

Departing for Europe this morning, president bush tried to ease concerns.

Bush: I do remind them that we have put a stimulus package forward that is Expected to help boost the economy.

But some legislators, including democratic presidential nominee Barack Obama, are calling for a second stimulus package to jump-start the ailing u-s economy.

Obama: ”It was the logical conclusion of a tired and misguided philosophy that has Dominated Washington for far too long.”

Campaigning in Raleigh North Carolina, Obama also attacked John McCain, citing his support of the president's tax cuts-- cuts that McCain once opposed.

For all his talk of independence, the centerpiece of John McCain’s economic Plan amounts to a full-throated endorsement of George Bush's policies.

The McCain campaign countered. Charging that Barack Obama's plan to raise taxes is not the answer to America’s economic woes.

TJ Winick, ABC News, Washington.