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LONDON : Global share prices crumbled Friday and investor anxiety mounted as political wrangling blocked a deal to save the US finance sector, a big US bank collapsed and a European institution showed signs of stress....
"We've got a big problem ... we need a rescue plan," Bush said in televised remarks minutes after Wall Street shares plummeted in line with Asia and Europe and as central banks again injected tens of billions of dollars to avert seizure on interbank lending markets.
After a rescue for US savings giant Washington Mutual by JP Morgan Chase in the biggest-ever US banking failure, shock waves hit European financial markets.
NEW YORK – Stocks have turned in a lopsided finish as investors nervously wait for more news on the government's financial bailout plan.
The Dow Jones industrials rose 126 points to the 11,149 level, lifted by big national banks like Citigroup Inc. and Bank of America Corp. Although investors are very nervous about the financial sector, they were gravitating toward companies they believe are in more secure financial positions.
Smaller banks and tech stocks led the day's selling, which came on very light volume as many investors chose to sit out the session....
Broader indicators fell. The Standard & Poor's 500 index declined 5.16, or 0.43 percent, to 1,204.02, and the technology-heavy Nasdaq composite index fell 14.42, or 0.66 percent, to 2,172.15.
Declining issues outnumbered advancers by more than 3 to 1 on the New York Stock Exchange, where volume came to 624.5 million shares....
Uncertainty over the bailout package left the dollar mixed against other major currencies. Gold prices rose.
