World market indices remain low

World market indices remain low
# 07 October 2008 09:31 (UTC +04:00)
Baku. Vahab Rzayev - APA-Economics. Desperate new measures by governments in Europe and North America to stabilize the financial system failed to stop panic selling that swept global markets yesterday amid deepening gloom at the scope of the banking crisis.
The Dow Jones Industrial Average fell as much as 800 points during the session, slipping below the key psychological level of 10,000 for the first time since 2004.
The Dow fell 369.88 points, or 3.58%, to 9,955.50.
Standard & Poor’s 500 Index fell 42.34 points, or 3.85%, to 1,056.89, while the Nasdaq Composite Index dropped 84.43 points, or 4.34%, to 1,862.96.
It was the S&P 500’s lowest close since December 2003.
For the year to date, the Dow is down about 25%, the S&P 500 is down 28% and the Nasdaq is down 29.8%.
In London, the U.K. FTSE-100 index fell 7.9% to 4589.19, its largest percentage decline since Oct. 20, 1987.
The German DAX Index dropped 7.1% to 5387.01 and the French CAC-40 slumped 9% to 3711.98, its largest one-day drop since Oct. 19, 1987.
Euro is trading at $1.3516.
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