BSE Sensex falls below 11,000 first time since August 2006

Breaking News! The bloodbath at Dalal Street continues, as the BSE Sensex fell below 11,000 mark for the first time since August 2006. The stocks crashed by 827 points in the first hour of trading on Wednesday. The BSE Sensex was trading 10,844 points. The Nifty too crashed by over 200 points and was trading at 3,385 points.

Markets across the world witnessed the big decline yesterday. The Dow Jones fell by 500 points, while the Nasdaq slipped to a 5-year-low. The Tokyo stock market too witnessed a 20-year-low with Nikkei 225 crashing by 9.3 percent at close. The US Fed (Federal Reserve) is considering a rate cut to bailout the market. Investors and common people are in panic in the US and elsewhere in the world. The UK government has unveiled a 20 billion pound bank rescue plan to overcome the banking crisis.