US shares rise off lows, close down 3.6%

06 October 2008 22:39  [Source: ICIS news]

HOUSTON (ICIS news)--US share prices moderated some of their losses late on Monday, with the Dow Jones Industrial Average closing down 369.88 points, or 3.6%, at 9,955.50 after earlier slumping by as much as 800 points.

That was the first close below 10,000 since 2004.

Share prices of almost all publicly traded chemical companies fell, including some of the industry’s giants, amid a broad plunge attributed investor concerns over the global financial crisis.

Huntsman shares fell 71 cents, or nearly 7%, to close at $9.91 (€7.23).

Shares of Dow Chemical fell 57 cents, or nearly 2%, to close at $23.92.

After setting a new 52-week low of $76.86/share in intraday trading, Potash Corporation of Saskatchewan stock ended with a loss of $8.45, or nearly 9%, to close at $86.91/share.

($1 = €0.73)

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Author: David Rosen
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