Markets fall around the globe

WASHINGTON, Sept. 30 (UPI) -- Markets from Japan to Europe plunged steeply after the U.S. House of Representatives failed to pass a massive bailout plan.

The Dow Jones industrial average took its largest one-day beating ever, losing more than 777 points on the day, and markets around the globe also suffered.

In Japan, where the government pumped $19 billion more into the economy, the Nikkei index fell 4.12 percent. In Australia, markets tumbled 4.32 percent. In Russia, stock markets suspended trading after the RTS fell more than 8 percent in just a few minutes of trading, CNN reported.

The market plunge wiped out $1.2 trillion in market value, the largest loss in one day on the Dow Jones Wilshire 5,000 index.

Markets were down in London, South Korea, France and Germany. But, in Hong Kong, the Hang Seng index put on the brakes, falling 6 percent in midday and rising to a positive close, up 0.76 percent.

London's FTSE 100 index also halted a free-fall, rising late in the day.

"There's still an expectation that a deal will be done," Henk Potts, an equity strategist at Barclays Wealth in London told CNN.