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Wall Street slides on weak economic data
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09:58, October 03, 2008

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Wall Street slid Thursday on weak economic data after the Senate passes the U.S. government's financial rescue plan.

Data showing the number of people filing for unemployment benefits hit a 7-year high painted a troubling picture, as did a report showing a steep drop in factory orders in August.

Investors also are worried that the 700 billion U.S. dollars bailout plan won't be enough to stimulate growth.

The Dow Jones industrial average fell 348.22 points, or 3.22 percent, to 10,482.85, while the Standard & Poor's 500 Index slid 46.78 points, or 4.03 percent, to 1,114.28. The Nasdaq Composite Index dropped 92.68 points, or 4.48 percent, to 1,976.72.  


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