30 September 2008 10:11 [Source: ICIS news]
LONDON (ICIS news)--Chemicals stocks in Europe dropped on Tuesday as the markets reacted to the rejection by the US Congress on Monday night of Treasury Secretary Hank Paulson's $700bn (€486bn) bailout plan.
The FTSE 100 index of ?xml:namespace>
The FTSE 100 endured one of the biggest one-day falls in history on Monday, when it dropped 5.3%.
The Dow Jones Eurostoxx 50 index was down 0.43% from the previous close at 08:08 GMT to 2,995.33.
Markets in Europe were expected to plummet after the shock defeat of the massive
The rescue plan was hastily crafted over the weekend following the major shake-up in the
The list of casualties continued to grow, with the seizing of Washington Mutual last Friday and the government-orchestrated sale of Wachovia Group, the sixth largest bank in the
European financial institutions were reeling from the
($1 = €0.69)
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|