News Journal

Market loose points after rejection of Bush’s economic bailout plan

After the rejection of $700 billion proposal given by U.S. president George Bush the stock markets across the globe reacted negatively and financial market indexes plunged. The American market rebounded with Dow Jones and S& P indexes rising by more than 2.2 % and Dow was up by 235 points.

The market reaction in America suggested that Congress may reconsider the bailout plan and may act in coming days to resolve market crisis.