Bourse

Home page

Bourse

Wall Street goes down on bailout risks

24 September 2008 08:54 (UTC +04:00)

Baku. Vugar Mustafayev - APA-Economics. Stocks in the United States fell on Tuesday on fears that congressional wrangling could delay a proposed $US700 billion plan to rescue the financial sector.
Federal Reserve Chairman Ben Bernanke on Tuesday urged Congress to approve the plan quickly, warning a delay would put the economy at risk, but lawmakers want more details.
He told the Senate Banking Committee that "action by Congress is urgently required to stabilize the situation and avert what could otherwise be very serious consequences for our financial markets and our economy."
The Dow Jones industrial average was down 161.52 points, or 1.47%, at 10,854.17.
Standard & Poorâ€™s 500 Index was down 18.87 points, or 1.56%, at 1,188.22. The Nasdaq Composite Index was down 25.64 points, or 1.18%, at 2,153.34.
About 1.15 billion shares changed hands on the New York Stock Exchange, below last yearâ€™s estimated daily average of roughly 1.90 billion.
About two billion shares were traded on the Nasdaq, also below last yearâ€™s daily average of 2.17 billion.
The FTSE 100 share index closed down 100.2 points, or 1.91 per cent, at 5,136.1, as investors waited for US congress to pass the bailout measures.
The DAX shed 39.22 points, or 0.64 per cent, to close at 6,068.53 points.
The CAC 40 fell 83.69 points, or 1.98 per cent, to 4,139.82 points.
Japanâ€™s markets were closed for a public holiday.