New York  - As the US Treasury Department said it will prop up consumer lending as part of the emergency financial bail-out, US stock indices plunged more than 4 per cent Wednesday, with the Standard & Poor's 500 index dropping to a near five-year low.

The technology-heavy Nasdaq Composite Index also reached a five- year low.

London  - Tottenham's dramatic improvement under Harry Redknapp continued Wednesday, as they beat Liverpool 4-2 to reach the quarter-finals of the Carling Cup.

Chelsea, though, were dumped out of the competition on penalties by Championship side Burnley.

Tottenham have won five and drawn one in their six games since Redknapp replaced Juande Ramos as manager two and a half weeks ago.

They had already become the first team to beat Liverpool this season with a 2-1 league victory, but Wednesday night was even more dramatic.

London - Tottenham's dramatic improvement under Harry Redknapp continued Wednesday, as they beat Liverpool 4-2 to reach the quarter-finals of the Carling Cup.

New York - As the US Treasury Department said it will prop up consumer lending as part of the emergency financial bail-out, US stock indices plunged more than 4 per cent Wednesday, with the Standard & Poor's 500 index dropping to a near five-year low.

The technology-heavy Nasdaq Composite Index also reached a five- year low.

US Treasury Secretary Henry Paulson's plans to shift some of the focus of the final half of the 700-billion-dollar rescue fund to credit card and loan companies reflected growing concern over drops in consumer spending, auto buying and student borrowing.

"This market, which is vital for lending and growth, has for all practical purposes ground to a halt," Paulson said.