World markets fall as US economic stimulus rally fades

By
February 9, 2009 14:11

 
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World stock markets mostly fell Monday as a recent rally over the $827 billion US economic stimulus plan and a new bank bailout began to fade. By noon in mainland Europe, Britain's FTSE 100 was down 0.6 percent at 4,267.96, Germany's DAX fell 0.3 percent to 4,632.58 and France's CAC 40 sank 0.2 percent to 3,115.42. Stocks advanced strongly last week on expectations the US measures, expected to pass the Senate Tuesday, will dampen the country's deepest recession in decades by stemming massive job losses and increasing spending. A coming overhaul of the government's $700 billion financial bailout program, to be detailed by Treasury Secretary Timothy Geithner on Tuesday, also has given sentiment a lift. Among new measures under consideration are guarantees to help banks limit losses from their souring assets.

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