US shares started to decline in afternoon
trade after Dow Jones disclosed details of draft plan, however, stock indexes
plunged even further as Reuters reported that Germany opposed several measures
in draft proposal. Standard & Poor's 500 sank 2.1% or 26.66 points at 1,234.35
whereas Dow Jones Industrial Average lost 1.6% or 198.67 points to 11,997.70.
Nasdaq Composite traded down 2% or 52.38 points to 2,596.38.