BBC: US President George W Bush has warned the US economy is at a "critical moment", and vowed to get his Wall Street rescue plan through Congress.
He said the consequences would be "painful and lasting" if the $700bn (£380bn) deal rejected by the US House of Representatives was not passed.
He offered reassurances to citizens of the US and wider world that the current political deadlock would be resolved.
The New York stock market rallied strongly after Mr Bush's statement.
The Dow Jones index closed up 4.7%, recouping some losses from Monday's rout.
European stocks bounced up and down, while most Asian markets finished the day down.
The European Union earlier urged Washington to act and solve the credit crisis, amid fears America was lurching towards a financial crisis unmatched since the 1930s Great Depression. Bush Warning over Bail-out Delay >>> | September 30, 2008
The Dawning of a New Dark Age – Paperback (US) Barnes & Noble >>>
The Dawning of a New Dark Age – Hardcover (US) Barnes & Noble >>>
