Open

Coming up

Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Is Carla Bruni against a political comeback for Sarkozy?

Read more

DEBATE

Clone of Pakistan Protests: Democracy put the test (Part Two)

Read more

DEBATE

Pakistan Protests: Democracy put the test (Part One)

Read more

ENCORE!

The French Maestro of Soul

Read more

FOCUS

US tobacco giants want lion's share of e-cigarette business

Read more

ENCORE!

Bold and bonkers: Kate Bush is back on stage

Read more

THE INTERVIEW

Simon Serfaty, US foreign policy specialist

Read more

IN THE PAPERS

'It's a War, Stupid!'

Read more

BUSINESS DAILY

French PM calls on ECB to go further to help economy

Read more

  • UN backs inquiry of IS group’s alleged crimes in Iraq

    Read more

  • French education ministry picture sparks racist abuse

    Read more

  • Video: Ukraine’s children return to school as fighting rages on

    Read more

  • US urges Israel to reverse West Bank land seizure

    Read more

  • Americans detained in North Korea call for US help

    Read more

  • Lesotho PM calls for regional peacekeeping force after ‘coup’

    Read more

  • Ukrainian forces retreat from Luhansk airport after clashes

    Read more

  • Teddy Riner, France’s unstoppable judo champion

    Read more

  • Death toll rises in Paris apartment building blast

    Read more

  • Iraqi forces free Amerli in biggest victory over IS militants since June

    Read more

  • French police arrest hungry hedgehog hunters

    Read more

  • Tripoli under control of militias, says government

    Read more

  • Monaco’s Falcao set for Man Utd loan on transfer deadline day

    Read more

  • Spain orders custody for parents of ill British boy

    Read more

  • Anti-government protesters storm Pakistan's state TV

    Read more

  • Web doc on French self-immolation protests takes top prize

    Read more

Business

Dow Jones falls below 7,000 for first time in more than a decade

Video by Richard TOMPSETT

Latest update : 2009-03-03

Wall Street's main index, the Dow Jones, slid below 7,000 points at opening for the first time since 1997. The huge AIG losses had a sharp effect. Earlier, Asian and European markets were also down.

AFP - Wall Street stocks dropped from 12-year lows at the opening Monday on heightened financial woes after a new bailout announced for insurance giant AIG.
   
The Dow Jones Industrial Average slid below 7,000 points for the first time since 1997, tumbling 137.87 points (1.95 percent) to 6,925.06 in the first exchanges.
   
The Nasdaq fell 18.69 points (1.36 percent) to 1,359.15 while the broad-market Standard & Poor's 500 index shed 15.13 points (2.06 percent) to 719.96.
   
Market action came after the US government unveiled a fresh aid plan of 30 billion dollars for AIG to stave off collapse of the ailing insurance company as it revealed massive new losses.
   
"The market doesn't like it because it shows how immersed the government has become in managing a controlled burn of this zombie organization that is considered too systemically important to die of natural causes," said Patrick O'Hare at Briefing.com.
   
World markets were under pressure after banking giant HSBC said it was seeking a huge capital injection to survive the global economic crisis.

Date created : 2009-03-02

COMMENT(S)