U.S. stock slump due to bankruptcy Laju GM

U.S. stock slump due to bankruptcy Laju GM


Wall Street shares slump on Wednesday local time, with the investors move carefully because of automotive giant General Motors to move to the bankruptcy and dicengkram market concerns about rising U.S. debt, said the dealer.

Index stock blue-chip Dow Jones Industrial Average down 173.47 points, or 2.05 percent, to be 8300.02 at the end of the trade.

Composite stock index technology-rich Nasdaq dwindle 19.35 points, or 1.11 percent, to be 1731.08 and the index Standard & Poor `s 500 down 17.27 points, or 1.90 percent, to be 893.06 at the beginning of the closure.

The traders said, investors enter the market Wednesday, with the reserve after General Motors reported the government has failed to get support from shareholders for a debt swap transaction with the shareholders, the failure to create a more enabling.

Mencuat also concerns about menggelembungnya U.S. government debt and the cost of borrowing in the middle of a prolonged crisis, encouraging lopsided results (yield) of U.S. bonds (T-bill) increase.