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Major market indices go down

19 February 2009 13:19 (UTC +04:00)

Bakuâ€“ APA-Economics. Stocks declined on Wall Street on Wednesday as President Barack Obama released details of his $75 billion mortgage relief plan and investors remained uncertain about the prospects for the economy, SMH reported.
Obama’s announcement of the plan comes a day after he signed into law a $787 billion economic stimulus plan he hopes will help revive the economy.
But the markets were equivocal. As late afternoon approached, the key indicators were slightly positive. With an hour of trade to go, the Dow Jones industrial average was up 6.06 points, or by 0.08 per cent, to 7558.66.
The Standard & Poor’s 500 index was up by 0.46 point, or by 0.06 per cent, to 789.63, and the Nasdaq composite index was 0.53 point higher, or by 0.22 per cent, to 1,473.83.
European stock markets slipped, with the London FTSE 100 index losing 0.68 per cent, or 27.3 points, to close at 4,006.83.
The DAX fell 0.28 per cent, or 11.64 points, to 4,204.96.
The CAC 40 index was stable, losing just 0.04 per cent, or 1.16 per cent, to finish at 2,874.07.