More meltdown as U.S. deal stalls

Sep 26 - Political bickering stalling the U.S. 700 billion dollar rescue deal turns markets chilly.

As progress on the deal stalled, news came that the U.S. government has closed the bank Washington Mutual Inc. Its banking assets were sold to rival JP Morgan Chase for 1.9 billion dollars (USD).

Despite headlines such as these, CMC trader Paul Chesterton believes the bottom is close and the market should start to correct itself even if the rescue package is delayed further.

Stefanie McIntyre reports.