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Global stocks plunge
- Tuesday, October 07 - 2008 at 08:39
Fears that the credit crisis will not be contained sparked panic selling across Global stock markets tumbled on Monday amidst fears that the credit crisis cannot be contained. European shares posted their worst day on record and the Dow slipped below 10,000 points for the first time since October 2004. In Europe, the pan-European FTSEurofirst 300 index fell 7.75% to close at 1,004.90 points, its biggest percentage fall ever and eclipsing the 6.3% fall suffered on September 11, 2001, during the US terrorist attacks. In the US, the Dow Jones industrial average closed down 369.88 points, or 3.58%, at 9,955.50. At one point, the Dow was down as many as 800 points following large declines on global stock markets.
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Jeff Florian, Senior ReporterTuesday, October 07 - 2008 at 08:39 UAE local time (GMT+4)
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