Wall Street shares tumbled this morning with investors turning cautious as car giant General Motors moved towards bankruptcy and the market was gripped by fears about rising US debt.
The blue-chip Dow Jones Industrial Average fell 173.47 points (2.05 per cent) to end at 8,300.02, giving back nearly all of Tuesday's gains.
The tech-rich Nasdaq shed 19.35 points to 1,731.08 and the broad-market Standard & Poor's 500 index fell 17.27 points to close at 893.06.
Traders said investors entered the market cautious after General Motors reported that it had failed to win sufficient support from bondholders for a deal to swap debt for equity, making a bankruptcy filing more likely.
- AGENCIES
<i>US stocks:</i> Shares tumble over GM worries
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