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.
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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)
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