U.S. markets flirt with record loss Monday

NEW YORK, Oct. 6 (UPI) -- U.S. markets flirted with a new single-day record of declines Monday, but recovered from a momentary 800 point drop in the Dow Jones industrial average.

The Dow Jones industrial average closed below the 10,000-point level for the first time in four years Monday, in spite of a $700 financial bailout bill.

By close, the DJIA was at 9,955.50, off 3.58 percent on a loss of 369.88 points.

The Standard and Poor's 500 fell 3.86 percent or 42.38 points, to 1,056.85. The Nasdaq composite index lost 84.43 points, 4.34 percent, to 1,862.96.

On the New York Stock Exchange, 231 stocks advanced and 2,997 declined on a volume of 7.04 billion shares traded.

The benchmark 10-year U.S. Treasury bond rose 1 2/32 to yield 3.474 percent.

The dollar was mixed Monday. The euro fell to $1.3529, compared to $1.3806 Friday. Against the Japanese yen, the dollar fell to 101.91 yen, down from 105.14 yen.

In Tokyo, the Nikkei average lost 465.05 points to 10,473.09, off 4.25 percent.

In London, the FTSE 100 index lost 391.10 points, off 7.85 percent, to 4,589.20.