WALL STREET

Markets ignore Obama fever, Dow Jones slides by more than 4%

For the US markets, banking woes were stronger than the optimism surrounding the inauguration of Barack Obama as the 44th president. The Dow Jones Industrial Average slid 4.01 percent and the Nasdaq sank by 5.78 percent.

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AFP - US stocks plunged Tuesday as renewed fears about the global banking sector offset optimism surrounding the inauguration of Barack Obama as the 44th president.

The Dow Jones Industrial Average slid 332.13 points (4.01 percent) to 7,949.09 at the closing bell, slipping below the key level of 8,000.

The Nasdaq composite sank 88.47 points (5.78 percent) to 1,440.86 and the broad Standard & Poor's 500 index lost 44.88 points (5.28 percent) to a preliminary close of 805.24.

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