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US markets are low

16 September 2008 09:53 (UTC +04:00)

Baku. Vugar Mustafayev - APA-Economics. The Dow fell 504.48, or 4.42 percent, to 10,917.51, moving below the 11,000 mark for the first time since mid-July. It was the worst point drop for the Dow since it lost 684.81 on Sept. 17, 2001, the first day of trading after the terror attacks.
In percentage terms, the drop was the steepest since July 19, 2002. It was also the sixth-largest point drop in the Dow, just behind the 508.00 it suffered in the October 1987 crash.
The Dow is now down about 23 percent from its record high of 14,198.09 last October.
Broader stock indicators also fell. The Standard & Poorâ€™s 500 index declined 59.00, or 4.71 percent, to 1,192.70 â€” also its biggest drop since 9/11 and the first time it closed below 1,200 in three years.
The Nasdaq composite index fell 81.36, or 3.60 percent, to 2,179.91; that was its worst point loss since Jan. 4.
The Dow Jones Wilshire 5000 Composite Index, an index that measures the value of 5,000 U.S.-based companies, fell 4.53 percent Monday, giving investors an overall paper loss of about $700 billion.
Britainâ€™s FTSE 100 fell 3.92 percent, Germanyâ€™s DAX index lost 2.74 percent, and Franceâ€™s CAC-40 fell 3.78 percent.
The Russell 2000 index of smaller companies fell 30.50, or 4.23 percent, to 689.76.