Afternoon Markets: Auto-industry bailout collapse dictates falls

The US Senate's rejection of the auto-industry bail-out package has continued to dominate world marke...

The US Senate's rejection of the auto-industry bail-out package has continued to dominate world markets today. The Cac 40 dropped 5.1% and the Dax was down 4%, after Asian shares tumbled overnight. US stocks have opened low with the Dow Jones opening at 8,563.10 and sinking to 8,347.81 within the first two hours of trading with 29 of its 30 components down early on. As expected shares in car makers led the falls, with General Motors off 16% and Ford Motor down more than 7.2%. The S&P 500 fell 15.12 points to 858.57, with all 10 of its sectors posting early declines, with energy, finan...