Wall Street slumps on overseas concerns

08:10, November 17, 2010      

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Wall Street slumped on Tuesday as concerns on European debt problems and possible monetary tightening in Asia pressured the markets.

Investors are worrying about that Ireland's debt problems are out of control and will have to ask for financial aid.

Meanwhile, concerns on Asia dragging major European indexes and U.S. market lower as investors believed that China might soon announce new tightening measures to combat inflation.

The Dow Jones industrial average plummeted 178.47, or 1.59 percent, to 11,023.50. The Standard &Poor's 500 index tumbled 19. 41 points, or 1.62 percent, to 1,178.34 and the Nasdaq was down 43. 98 points, or 1.75 percent, to 2,469.84.

Source: Xinhua

(Editor:李佳)

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