U.S. markets pounded Wednesday

NEW YORK, Sept. 17 (UPI) --

U.S. stock indexes took another pounding Wednesday, two days after suffering its worst single-session beating since September 2001.

The Dow Jones industrial average fell 504 points Monday and gained 141 points back Tuesday. After U.S. Federal Reserve seized control of American International Group, markets faltered again Wednesday, the DJIA dropping 449.36 points to 10,609.66, off 4.06.

In two days this week, the financial avalanche has wiped out 8.48 percent of the DJIA's value.

By close Wednesday, the Standard and Poor's index lost 57.11 points, or 4.71 percent, to 1,156.39. The Nasdaq composite index fell 109.05 points, or 4.94 percent, to 2,098.85.

On the New York Stock Exchange, 217 stocks advanced and 2,984 declined on a volume of 2.138 shares traded.

The 10-year U.S. Treasury note rose 6/32 to yield 3.41 percent.

The euro traded at $1.4347 against the dollar, compared with Tuesday's $1.4143, while the dollar traded at 104.66 yen from Tuesday's 105.92 yen.

In Tokyo, the Nikkei average gained 140.07 points, up 1.21 percent, to 11,749.79.

The FTSE 100 in London fell 113.20 points to 4,912.40, off 2.25 percent.