World stocks slump amid US car bailout concerns

By
February 17, 2009 17:38

 
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World stock markets slumped Tuesday as investors lost confidence in governments' ability to turn around the flagging global economy with expensive rescue plans. In Europe, the FTSE 100 index of British shares was down 121.52 points, or 2.9 percent, at 4,013.23, while Germany's DAX was 145.67 points, or 3.3 percent, lower at 4,220.97. The CAC-40 in France fell 74.48 points, or 2.5 percent, to 2,906.46. In the US, investors returned from their long weekend in downbeat mood. The Dow Jones industrial average tumbled 258.54 points, or 3.3 percent, soon after the open to 7,591.87, while the broader Standard & Poor's 500 index slid 32.35 points, or 3.9 percent, to 794.49.World stocks slump amid US car bailout concerns

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