New York, 2007 Aug 15, IRIB

American stock markets sustained heavy losses Tuesday as mounting concerns about tightening credit and fresh jitters about consumer spending sent shares into a tailspin.

The American markets had opened higher, but rapidly turned lower in the wake of a media report about a troubled investment fund, sentinel management group, and after the home-improvement chain home depot said its latest earnings slowed 15 percent.

The Dow Jones industrial average fell a hefty 207.61 points (1.57 percent) to close at 13,028.92, marking the fourth straight day the leading index has finished on a down note.