Markets Head South Overseas

Stock markets in Asia and Europe followed the Dow south today, just as Washington's big government guns (Paulson, Bernanke and Cox) are getting ready to testify on Capitol Hill later this morning to press their case for Congress to quickly craft a Wall Street bailout. Although Democrats in Congress have reached a general agreement with Treasury, today's story points out there are still sticking points to resolve.

With exception of the Nikkei, markets in Asia took a beating, many of them down about 2 percent and the Hong Kong Hang Seng down 3.8 percent. In Europe, the markets are down slightly, with the DJ Stoxx Europe index down 2 percent.

After a record-setting spike yesterday, oil headed slightly south this morning, down $1.87 to $107 a barrel.

--Sara Goo

September 23, 2008; 7:08 AM ET  | Category:  business
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Posted by: Marc Schlee | September 23, 2008 9:19 AM

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