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US market indices move down

23 September 2008 09:46 (UTC +04:00)

Baku. Vugar Mustafayev - APA-Economics. Volatility swept the financial markets again Monday as investors grew nervous about an amorphous government plan to buy $700 billion in banksâ€™ mortgage debt. Investors could grow nervous about the trajectory of the governmentâ€™s bailout plan if it appears that enough progress isnâ€™t being made, observers said.
The market did get some good news from Microsoft Corp., which said it plans to repurchase as much as $40 billion of its shares. The software maker said it completed a previous $40 billion buyback plan. The company also raised its quarterly dividend to 13 cents from 11 cents. Microsoft rose 24 cents to $25.40.
The Dow Jones Industrial Average fell 372.75 points, or 3.27 per cent, to 11,015.69.
The Standard & Poorâ€™s 500 index shed 47.99 points, or 3.82 per cent, to a close of 1,207.09, while the Nasdaq composite lost 94.92 points, or 4.17 per cent, to 2,178.98.
The London FTSE 100 index shed 75 points, or 1.41 per cent, to close at 5,236.26 points, as doubts mounted about the effectiveness of the US governmentâ€™s massive bailout plan.
The Dax lost 81.78 points, or 1.32 per cent, to close at 6,107.75 points.
The CAC 40 fell 101.36 points, or 2.34 per cent, to 4,223.51 points. Japanese shares closed up 1.42 per cent, with the benchmark Nikkei-225 index closing 169.73 points stronger at 12,090.59.