| GEO Business|
| Global stocks sink, as US Congress rejects bailout|
| Updated at: 1318 PST, Tuesday, September 30, 2008|
NEW YORK: Global stocks sank as the US Congress rejected the rescue plan, which saw the market all across the world burst into a worst pandemonium and shares price fell like ninepins.
US Treasury Secretary, Henry Paulson has given a clarion call to the lawmakers for proposing earliest measures salvaging the market from fearsome financial crisis. He said that the stock markets all over world were in turmoil and we should take action at once in this regard.
Wall Street Dow Jones index yesterday melted down by 778 points and it devastating affects were seen in Asian markets also. Indian shares index at the advent of the trading was seen losing by 442 points, while the value of Euro fell against Dollar in the Asian market.