Bail out rejected causes Wall Street chaos

THE Australian stock market is set to fall sharply today after Wall Street’s Dow index suffered a record one-day points decline.

The “Black Day” on Wall Street came after the US House of Representatives rejected a $US700 billion ($870 billion) bailout plan for the US financial sector.

The Dow fell 7% to the lowest close in almost three years.

» ASX 200 and All Ords to tumble after Wall Street chaos – The Australian, 30th September 2008.