Monday, September 29, 2008

Stocks fall after bail out plan fails

Stocks have plummeted following the rejection by the House of Representatives of a proposed bail out plan of US financial institutions [BBC / CNN]. The rescue plan, a result of tense talks between the government and lawmakers, was rejected by 228 to 205 votes. A White House spokesman was said to be “very disappointed. The Dow Jones index fell by more than 700 points ending at nearly 7% down on the day, the biggest fall since 9/11.

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