Home > In Focus > Economy & Government
The US Senate will vote tonight (October 1) on the revised $700 billion bail-out rescue plan in a push to resolve one of the worst financial periods since the Great Depression.
The Senate has come under increasing pressure to pass the bill after shares around the world plummeted following the bill's failure on Monday night.
Nevertheless, share prices rose on Tuesday suggesting that investors were positive that the US could agree to the bail-out option.
According to Reuters, Dow Jones futures dropped by 0.8 per cent by 5.35am, however as trading continued the Dow Jones had been steadily rising.
In Europe the mood was not so certain with Germany's Dax index down by one per cent to 5,771 and France's Cac 40 dropping by 0.2 per cent, the British Broadcasting Corporation reports.
By late morning The UK's FTSE 100 was up by one per cent but was still uncharacteristically below 5,000.
Today the chairman of the euro zone's finance ministers Jean-Claude Juncker said that the US must pursue with the proposed bail-out which would buy up banks' 'toxic assets', reports Reuters.
The initial bailout plan was rejected by the House on Monday due to concerns that ordinary taxpayers would be responsible for rescuing the Wall Street banking industry.
In Focus: Bailout plan faces new vote
The US Senate will vote tonight (October 1) on the revised $700 billion bail-out rescue plan in a push to resolve one of the worst financial periods since the Great Depression.The Senate has come under increasing pressure to pass the bill after shares around the world plummeted following the bill's failure on Monday night.
Nevertheless, share prices rose on Tuesday suggesting that investors were positive that the US could agree to the bail-out option.
According to Reuters, Dow Jones futures dropped by 0.8 per cent by 5.35am, however as trading continued the Dow Jones had been steadily rising.
In Europe the mood was not so certain with Germany's Dax index down by one per cent to 5,771 and France's Cac 40 dropping by 0.2 per cent, the British Broadcasting Corporation reports.
By late morning The UK's FTSE 100 was up by one per cent but was still uncharacteristically below 5,000.
Today the chairman of the euro zone's finance ministers Jean-Claude Juncker said that the US must pursue with the proposed bail-out which would buy up banks' 'toxic assets', reports Reuters.
The initial bailout plan was rejected by the House on Monday due to concerns that ordinary taxpayers would be responsible for rescuing the Wall Street banking industry.
