Wall Street plunged Monday as investors worried the U.S. government new bailout plan may not resuscitate a slumping economy.
Investors worried about the uncertainties about the rescue plan's details and concerned about whether it would provide a lift forthe U.S. economy.
A Wall Street analyst downgrade hit shares of JPMorgan Chase, the third largest U.S. bank, which fell 13.3 percent, making it the top drag on major indexes.
The Dow Jones industrial average was down 372.75 points, or 3.27 percent, to 11,015.69. The Standard & Poor's 500 Index slid 47.99 points, or 3.82 percent, to 1,207.09. The Nasdaq Composite Index fell 94.92 points, or 4.17 percent, to 2,178.98.
(Xinhua News Agency September 23, 2008)