US stocks steady after plunge; narrow loss to 3%

10 October 2008 16:29  [Source: ICIS news]

HOUSTON (ICIS news)--US share values have steadied, with the Dow Jones Industrial Average (DJIA) coming back up for air in mid-morning trading on Friday after an initial 6.0% plunge.

At 10:00 Houston time (15:00 GMT) the DJIA was down 254 points, or 3.0%, at 8,325 points. That was up from a bottom at 8,060 floor it hit soon after the start of trading.  

Analysts said some investors could be looking for deals in hard-hit issuances. Some bank shares rose due to impending merger deals.   

Among chemical companies, Dow Chemical was down 80 cents, or 3.1%, at $24.99 (€18.24).  

($1 = €0.73)

By Ben Lefebvre

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By: Ben Lefebvre
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