US shares down
Published:Thursday | October 2, 2008 | 2:27 PM
US shares have reportedly fallen sharply as investors exercise caution over whether the House of Representatives will back the revised bank rescue plan.
The House is due to discuss the scheme later today, with a vote expected tomorrow.
The bill successfully passed through the US Senate yesterday.
The fall in shares came as France said it would host a summit on the financial crisis.
The office of French President, Nicolas Sarkozy, said the special meeting on Saturday would discuss a co-ordinated response to the financial turmoil among European members of the G8.
The discussions will precede a meeting of world finance leaders in Washington next week.
UK Prime Minister Gordon Brown is due to attend, together with German Chancellor Angela Merkel, Italian Prime Minister Silvio Berlusconi and European Central Bank President Jean-Claude Trichet.
With just two days to go before the talks begin, EU members are deeply divided.
France and Holland favour a European response to help banks hit by the credit crisis, while Germany and Luxembourg believe a joint rescue plan is not necessary.