09 Sep '11, 2pm

US stocks slump on doubts over Obama plan

US stocks slump on doubts over Obama plan

US stocks fell as markets opened on Friday, with investors questioning whether President Barack Obama can convince Congress to pass his US$447 billion (S$549 billion) job-creation plan. -- PHOTO: AFP NEW YORK (AFP) - US stocks fell as markets opened on Friday, with investors questioning whether President Barack Obama can convince Congress to pass his US$447 billion (S$549 billion) job-creation plan. The Dow Jones Industrial Average was down 163.09 points (1.44 per cent) to 11,132.72 in the first five minutes of trading. The broader S&P 500 fell 14.77 points (1.25 per cent) to 1,171.13, while the tech-heavy Nasdaq Composite dropped 26.23 points (1.04 per cent) to stand at 2,502.91. US Secretary of State Hillary Clinton attended the opening of the New York Stock Exchange to mark the tenth anniversary of the Sept 11 attacks, and the normally bustling floor of the exchange fel...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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