Bank of Ireland, College Green, Dublin.

The euro had its biggest daily fall today against the US dollar since its launch in 1999.

Bank bailouts since Sunday across the Continent have unnerved investors and today,  France and Belgium came to the aid of Dexia SA, the world's biggest lender to local governments.

Belgian Prime Minister Yves Leterme said Dexia will receive about €6.4 billion in capital.

The euro fell 2.5% to $1.4077 at 10:52 a.m. in New York, from $1.4434 yesterday.

Dexia is being bailed out after its shares had a record fall on Monday. On Sunday, Belgium, the Netherlands and Luxembourg rescued Fortis, the largest Belgian financial-services company; the UK nationalised former building society Bradford & Bingley Plc, the country's biggest lender to landlords, and Germany issued a guarantee valued at €35 billion, with some private support, to commercial property lender Hypo Real Estate Holding AG.

In Dublin, the Irish Government confirmed today that it was guaranteeing liabilities of about €400 billion of six financial institutions. The CSO reported today that the liabilities – mostly loans – of monetary financial institutions (i.e. credit institutions and moneymarket funds) amounted to €818 billion in June  and the national debt was €43 billion.

Irish GDP is worth about €190 billion.

Following the biggest fall in the ISEQ Index on Monday at 13%, since January 1983, the index has risen 7.4% today in response to the government move.

Anglo Irish Bank has risen 59% following a 46% plunge on Monday; IL&P is up 36%: AIB 16.6% and BoI 23%.

In New York Tuesday, following the 778-point drop in the Dow Jones Industrial Average - the biggest one-day points decline in the blue-chip index in its 102-year history - the Dow has risen 224.44 points, or 2.2%, trading at 10589.89.

The Nasdaq Composite Index gained 2.6% and the S&P 500 rose 3%.

Economic data today provided mixed news.

Finfacts Market Related Reports Tuesday Afternoon:

US Conference Board Consumer Confidence Index posted a slight gain in September; Bush says "real prospect of economic hardship for millions of Americans"

S&P/Case-Shiller US Home Price Indices: Data for July shows record declines - Annual falls in Las Vegas, Phoenix, Miami and Los Angeles at -29.9%, -29.3%, -28.2% and -26.2%

Irish Government guaranteeing liabilities of about €400 billion of 6 financial institutions; CSO says Irish credit institutions and moneymarket funds owed €818 billion overseas in June; National debt was €43 billion

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In Europe, the Dow Jones Stoxx 600 Index increased 1.9% on Tuesday. It fell 11% in September

National benchmarks rose in 14 of the 18 western European markets. The UK's FTSE 100 gained 1.9%; France's CAC 40 added 2% and Germany's DAX rose 0.4%.