US investors took scant comfort Wednesday from the government's plans to revive the housing market and overall economy.
Wall Street ended with only modest changes after a steep sell-off Tuesday on worries about the global economy and banks in Eastern Europe. Several moderate rallies unraveled Wednesday as market indicators hovered around the lows they marked in November.
Investors reacted coolly to a $75 billion mortgage relief plan US President Barack Obama introduced on Wednesday, which would provide incentives to mortgage lenders to help borrowers reduce their payments.
Plunging home values are at the center of the 14-month-old recession, which has been one of the most severe in decades. The announcement came a day after Obama signed into law a $787 billion economic stimulus plan.