International crisis meeting as Dow Jones plummets below 9,000 - by Gary Duncan
As panic over the danger of financial and economic meltdown swept Wall Street once more, the latest 7 per cent plunge in the value of America’s blue-chip businesses piled pressure on world financial leaders gathering in Washington today to take yet more drastic measures to avert disaster. In its seventh consecutive trading session of steep losses, the worst such run since the Black Monday crash in October 1987, the Dow Jones industrial average sank by a further 678.91 points, or 7.33 per cent, to close at a five year low of 8,579.19. The broader-based S&P 500 index of top US companies fell 75.05 points, or 7.62 per cent, to a five-year low of 909.90.
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