Blue chips down 400

[Italkcash Newsfeed]

Stocks tumbled on Monday, sending the Dow industrials below the 10,000 mark for the first time in nearly four years, as last week's $700 billion bailout package and government interventions in Europe over the weekend failed to soothe nervousness in global markets.

European governments didn't reach a common deal on bailouts over the weekend. Instead each country is handling the fallouts on its own, with Germany backing its retail deposits, following similar moves by Ireland and Greece. Holland nationalized the Dutch operations of Fortis, and a new 50 billion euro financing package was reached for Germany's Hypo Real Estate.

It's the first time the blue-chip index has traded below the 10,000 mark since Oct. 29, 2004.



Source: Marketwatch