Foreign markets were stunned when lawmakers in the House failed to pass the Wall Street rescue plan Monday. Russian regulators suspended trading at the country's two major stock exchanges after shares in major oil companies plunged. Moscow's markets are dominated by oil companies, and the exchanges have been volatile for months as investors worry about the global economy.
STEVE INSKEEP, host:
NPR's Business news starts with global reaction to the bailout failure. Markets around the world appeared to be stunned by U.S. lawmaker's decision to reject the administration's financial rescue plan. In Russia, regulators suspended trading at the country's two major stock exchanges. Shares in major oil companies plunged one as much as 10 percent. Moscow's markets are dominated by oil companies and exchanges have been volatile for months as investors worry about the global economy. And American financial turmoil and the price of oil which has fallen to about $95 per barrel.
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