Wall Street tumbles as G20 fails to allay fears
18 Nov 2008 3:09 AMUS stocks opened weaker on Wall St .. after the Group of 20 weekend economic summit failed to calm the fears of investors .. who reacted to news that Japan had joined the eurozone in recession.
The Dow Jones Industrial Average dropped 199.52 points .. or 2.35 per cent .. to 8,297.79 .. and the Nasdaq fell 27.91 points .. or 1.84 per cent .. to 1,488.94 at 2.40am (AEDT) today.
The broad Standard and Poor's 500 index declined 18.56 points .. or 2.13 per cent .. to 854.73.
The overall market suffered heavy losses last week .. although some analysts said they saw signs Wall Street may have found a bottom from which a new rally could begin.
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