With the US congress failing to approve a 700 billion USD package aimed at alleviating the credit crunch hammering financial markets, American shares plummeted overnight, even seemingly immune gaming stocks plunging amid the gloom.

Activision shares were down 13.8%, to 14.12 USD, losing 3.63 USD to close at 36 USD. also lost 7% and dropped more than 4.5%.

It is unclear if these drops represent a flagging outlook for the games industry, or rather whether investors are merely feeling gloomy in the wake of the US bank wranglings.

More news as we get it.

By Luke Guttridge

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