Footsie and Dow drop as jobs dive in the States

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

The FTSE 100 index tumbled 29.8 to 4929.7 despite having spent much of the day back above the 5000 mark.

However, Wall Street opened sharply down, falling even further later when figures were issued showing unemployment rising sharply and factory orders falling.

As London drew towards a close, the Dow Jones Industrial Average was down 214.8 at 10,616.3.

The fall in the Dow added pressure on the US Congress to approve the $700 billion bailout of the US financial sector.

Hopes are riding high among investors that the plan rejected on Monday would be passed. However, even the most optimistic were cautious.

"I'm not betting anything here because I don't know what the House is going to do," said Paul Mendelsohn at Windham Financial Services in Vermont. "If this bill doesn't pass in the House, it's game over."

The Senate, which approved a revised version of the bill yesterday, hope their sweeteners will be enough to carry it through Congress at a vote likely to be held tomorrow night.