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US markets go low, stocks fall

03 October 2008 09:29 (UTC +04:00)

Baku. Vahab Rzayev - APA-Economics. Pessimism about a protracted economic downturn washed over the financial markets on Thursday, sending stocks plunging and seeing further tightening in credit markets.
The Dow plummeted 348.22 points, or 3.22 per cent, to 10,482.85, while the broader S&P500 fell 46.78 points, or 4.03 per cent, to 1,114.28.
The NASDAQ, which carries tech and more recently listed heavyweights, lost 92.68 points, or 4.48 per cent, to 1,976.72.
European stock markets fell on Thursday following disappointing economic data from the United States and a decision by the European Central Bank to maintain interest rates at current levels.
In London, the benchmark FTSE 100 index dropped 89.3 points, or 1.8 per cent, to 4,870.3.
In Germany, the benchmark DAX 30 index lost 145.7 points, or 2.51 per cent, to 5,660.63.
In France, the benchmark CAC 40 index gave up 91.26 points, or 2.25 per cent, to 3,963.28.
Japan-listed shares fell more than 1.8 per cent on Thursday, hitting a three-year low on worries about the financial crisis despite the US Senate approving a mortgage debt bailout.
The Tokyo Stock Exchangeâ€™s benchmark Nikkei 225 index shed 213.5 points, or 1.88 per cent, to 11,154.76.
The Russell 2000 index of smaller companies fell 33.92, or 5.05 percent, to 637.67.