Wall St. hammered by AIG fallout
March 2 - U.S. stocks skidded to fresh lows as the government bailed out American International Group again and reported a record 61.7 billion dollars (USD) loss.
The Dow Jones industrial average fell to its lowest since April 1997 on an intraday basis, hit by selling in financial, energy and industrial stocks.
All 10 S&P sectors were in the red.
The Dow Jones industrial average tumbled 219.75 points, or 3.11 percent to 6,8413.18.
The Standard & Poor's 500 Index gave up 26.61 points, or 3.62 percent, at 708.48.
The Nasdaq Composite Index lost 42.13 points, or 3.06 percent, to 1,335.71.
Under the government's latest revised rescue plan, AIG will gain access to up to an additional $30 billion in new capital.
SOUNDBITE) (English) BILL BERGMAN, SENIOR EQUITIES ANALYST, MORNINGSTAR
