US stocks plunge

Stock markets have continued to plummet in the United States despite the approval of a US$700 billion financial bailout plan by the House of Representatives last week.



Analysts said the rescue plan by both US and Europe has failed to stem fears of slower global economic growth.



The authorities claim that there has been no real reaction in credit markets because of the natural assumption that the measures will fail.



In an attempt to reassure investors, the President\'s Working Group on Financial Markets, said it would be moving quickly to exercise the new powers it has been given as part of the Wall Street rescue package.



The group, which was formed after the 1987 stock market crash, said it would move with urgency to address the situation.