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Congress Rejects Bail-Out Plan

Posted By admin On September 29, 2008 @ 12:05 pm In Featured Stories | Comments Disabled

Sky News [1]
Monday, September 29, 2008

The House of Representatives has voted against the $700bn bail-out plan for the US economy – sending the Dow Jones plummeting.

The Dow Jones immediately crashed by 6% on the news.

Earlier, in London, banks including HBOS, Lloyds TSB and RBS were among the FTSE 100’s biggest fallers.

The index of the UK’s top 100 companies closed down 5.3% at 4818.8 – the lowest it’s been since April 2005.

As concerns about the bail-out grew, central banks agreed to pump an extra $630bn (£350bn) into the money markets to restore confidence in the system.

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[1] Sky News: http://uk.news.yahoo.com/skynews/20080929/twl-congress-rejects-bail-out-plan-3fd0ae9.html

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