LONDON (Reuters) - World stocks were at near three-year lows on Tuesday but fears of a major market meltdown failed to carry through from Wall Street to Europe as confidence in bank rescue packages persisted.
The U.S. Congress's rejection of a bank rescue plan tore nearly 9 percent off the broad S&P 500 on Monday but European shares and many Asian stock markets clawed back from early losses on hopes the U.S. plan would eventually go through.
U.S. stock index futures also pointed to a higher opening, suggesting belief that Monday's selloff was over-done.
"It's certainly my working assumption that there (will be) some sort of agreement reached in the U.S. and based on that I would expect the market to recover quite strongly from yesterday's sell-off," said Darren Winder, equity strategist at Cazenove.
Parts of the private sector becomes corrupt and fails, good. It's long over due for a cleansing.
I found the bill all 110 pages, HR3997 is vague and uses broad general language, which is what we do NOT need. Download Here
That one sentence sums up the famous double standard of the far left. Do as we say, not as we do, it's disgusting.
It's no different than if the story was "PETA marches in the streets slitting the throats of homeless pets to protest pet violence."
Just as stupid.