Dow Falls Over 500 As Credit Crisis Intensifies Around The Globe

October 6, 2008 10:51 AM EDT

Stock are under heavy pressure this morning, with the Dow dropping over 500 points, as the credit crisis and economic slowdown spreads globally.

Showing the global scale of the crisis, the euro fell the most against the yen since its debut after the German government and state banks were forced to pledge $68 billion to rescue Hypo Real Estate Holding AG.

Europe's Dow Jones Stoxx 600 Index fell 7%, its largest intraday decline since 1987.

Crude fell below $90 per barrel on fears of the global slowdown.

In emerging markets, Brazil's stock market was halted temporarily after dropping more than 10%.

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