KTKA

"We are very uncertain, these are very scary times."

With a cloud of uncertainty looming over Wall Street, nervous investors found some solace today. Stocks partially recovered some of the $1-trillion in wealth lost yesterday amid expectations lawmakers will salvage a rescue plan for the financial sector.

"Up is always better than down; and I think we are sort of in the wait-and-see mode, just anticipating the House go back and re-vote on this bill," NYSE trader Ted Weisberg said.

President Bush says, if lawmakers don't pass a bailout bill, the effect will be painful and lasting.

"The dramatic drop in the stock market that we saw yesterday will have a direct impact on the retirement accounts, pension funds, and personal savings of millions of our citizens," President Bush said.

Monday's record plunge in the Dow was just one visible gauge of the economy's condition. Analysts say problems in the credit markets pose an even more serious threat to the economy. A tightening of available credit makes it harder for companies to pay their employees and for consumers to take out loans.

"If you're looking to buy a car or home, you're going to have to pay more," NY Rep. Vito Fossela said.

The rise in stocks shouldn't have been unexpected. Bargain hunters tend to snatch up stocks when they're low. But until a rescue plan is in place, Wall Street traders say they're going to proceed with caution.