US shares tumble in anticipation of House Vote

US shares fell almost 200 points in early trading on Thursday as doubtful investors wait patiently to see if the House of Representatives will vote for the new $700 billion bailout plan to pass through after last night’s pass by the US Senate.

The much talked about bailout plan is now been named the rescue plan and has more clauses than the original bill in hope that the second time around the House of Representatives will pass it.

The Dow Jones Industrial average fell back 192.1 point to 10,639, this decrease came when traders were told about new data showing that there was a sharp fall in factory orders and that people claiming jobless benefit was the highest for seven years.

The FTSE 100 index of leading stocks tumbled into negative territory, down 43.8 points to 4,915.79. The House of Representatives are expected to vote again tomorrow, however, although it’s been passed by the US Senate tensions are still high as to if the House will vote in favour of the bailout bill.

Read the full article: timesonline