Press Release Summary: It has been reported that Wall Street plunges on bailout vote due to US House of Representatives refused to pass a strategy to bail out the US fiscal sector.
Press Release Body: The Dow Jones Industrial Average missed the most of the points in a single day in its history and other New York equities markets turned down sharply on Monday as the US House of Representatives denied to approve a plan to bail out the US monetary sector.
The Dow was down 777.68 points on the session, nearly 100 points more than the previous record of 684.81 points, put in the instant aftermath of the 9/11 terrorist attacks, for a drop of 6.98 percent to 10,365.45, but the percentage decrease was far less than the 20 percent declines observe on Black Monday in October 1987 or at the starting of the Great Depression in 1929.
The Nasdaq Composite fell 9.14 percent to 1,983.73 while the S&P 500 was 8.8 percent lower to 1,106.55.
European equities markets saw considerable downfalls even before the vote in the House after three banks in the region received bailouts of various sorts.
In London, the FTSE 100 dropped 5.3 percent to 4,181.77 while the FTSE 250 declined 5.82 percent to 7,792.93.
The FTSE Eurofirst 300 fell 5.23 percent to 1,047.04 while the IBEX was down 3.88 percent to 10,945.7, the Dax dropped 4.23 percent to 5,807.08 and the CAC-40 was 5.04 percent lower to 3,953.48.
Equities markets in the Asia-Pacific region were at down on Monday due to worries that even if the bailout did approve, it would not be enough to rescue the global economy.
In Tokyo, the Nikkei 225 fell 1.26 percent to 11,743.61 while the Topix index declined 1.74 percent to 1,127.87 and the Mothers market of small and mid-caps was down 3.41 percent to 412.71.
Elsewhere in the region, the Shanghai Composite decreased 0.16 percent to 2,293.78 and the Kospi was down 1.35 percent to 1,456.36 while in Australia the Sydney Ordinaries was 1.93 percent lower to 4,839.2 and the S&P/ASX200 dropped 1.99 percent to 4,807.4.
The Straits Times Index declined 2.08 percent to 2,361.34, the Taiex fell 2.16 percent to 5,929.63, the Sensex fell 3.87 percent to 12,595.75 and the Hang Seng decreased 4.29 percent to 17,880.68.
Crude oil prices turned down considerably, with West Texas Intermediate declining nearly 10 percent, while grains and most metals persuade with significant losses of their own. However, the pound and the euro both dropped on the bank bailouts in Europe.
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