Wall Street in Chaos and Dow tumbles 3%

Full Story: TIME World 10 November 2011

Photo: SodaHead

Uncertain Europe, specially financial troubles and government uncertainties in Italy and Greece, created chaos at Wall Street as Dow tumbled 3% bringing its industrial average down 389 points Wednesday. On the other hand, The S&P 500 also lost 3.7 per cent, its biggest one-day drop since August, after Italy's borrowing costs soared and talks collapsed in Greece on forming a new government.

The euro dipped 2 per cent against the dollar and Treasury yields sank as money moved out of Europe and traders bought U.S. government bonds.

Posted in: Business, Stock