When the U.S. senate failed on Thursday to pass a $14 billion rescue package for Detroit's three major car manufacturers, it took on the role of Christmas Grinch for autoworkers.
On Thursday, the senate got only a few ‘yes’ votes short of the 60 needed to block a filibuster on the bailout bill, effectively killing any chance of Congress providing a lifeline to the financially drowning automakers this year.
Following when the news was out, markets across the Asia-Pacific region were down more than 3 percent and Japan's Nikkei average and Hong Kong's Hang Seng were both down by more than 5 percent.