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.
This article was posted: Monday, September 29, 2008 at 12:05 pm