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Bailout Fails, Stocks Plunge

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29 September 2008 @ 03:04 pm ET

AFP/DDP Mon Sep 29, 1:33 PM ET Stock brokers watch their screens at Frankfurt`s stock exchange. Global stock markets plunged Monday as a series of US and European bank failures rattled investor hopes that the financial crisis can be contained by a massive US bailout plan

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The Dow Jones industrials dropped suddenly as news of the rejection hit Wall Street. The Dow had already dropped by about 300 points, and then fell a further 300 points in a matter of minutes, before recovering slightly.

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