Global markets battered, Dow slides below 10,000

Tuesday October 7, 2008, 8:57 am reeled Monday, as panicked investors scurried for cover on fears that a much-vaunted US finance sector bailout will fail to end a crippling credit crisis. The round-the-world selloff slammed markets from Tokyo to Wall Street, with some European bourses seeing record declines. "There is all-out panic," said ING senior strategist Adrian van Tiggelen in The Hague. "Everyone had hoped that after the acceptance of the package in the US and the bailouts in Europe, things would calm down but in effect, there are still strong fears of the domino effect." Wall Street came back from the edge of the abyss in a highly volatile session. The Dow Jones Industrial Average fell as much as 800 points during the session, slipping below the key psychological level of 10,000 for the first time since 2004. The... [read full story]