Dec. 12 (Bloomberg) — Asian stocks, U.S. index futures and the dollar tumbled after the Senate rejected a $14 billion automaker bailout plan for American automakers, threatening millions of jobs and a deepening of the global recession.
Honda Motor Co. and Nissan Motor Co. tumbled more than 12 percent in Tokyo, while U.S. index futures sank. The dollar fell to a 13-year low against the yen, while the cost of protecting Asian bonds against default advanced. Treasuries rose, pushing two-year note yields to a record low. Metal and crude oil prices slumped. The action is a blow to General Motors Corp. and Chrysler LLC, which may run out of cash early next year.
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