Dow industrials plunge 500 amid global sell-off

ASSOCIATED PRESS

NEW YORK - Wall Street tumbled again Monday, joining a sell-off around the world as fears grew that the financial crisis will cascade through economies globally despite bailout efforts by the U.S. and other governments. The Dow Jones industrials skidded nearly 500 points and fell below 10,000 for the first time in four years, while the credit markets remained under strain.The markets have come to the sobering realization that the Bush administration's $700 billion rescue plan won't work quickly to unfreeze the credit markets, and that many banks are still having difficulty gaining access to cash. Read more

Meme-It

Governments act to stem crisis, markets shaken

REUTERS

LONDON/BERLIN (Reuters) - More European governments followed Germany's lead on Monday offering guarantees to savers in a frantic effort to calm fears among investors over the worst financial crisis in 80 years.However, the moves failed to comfort... Read more

Meme-It

Feeling the Pain As Irish Property Values Plummet

THE WASHINGTON POST

SUTTON, Ireland -- Denis Finn spent about $4 million on a grand house in this pretty seaside town north of Dublin three years ago, but it was the mansion's grassy grounds where he saw the real... Read more

Meme-It

The Week Ahead

CHICAGO TRIBUNE

By Tribune staff What will the markets follow next? With the financial bailout bill signed, Wall Street may return to a more even keel after a week that saw the Dow Jones industrials'... Read more

Meme-It

Economic Worries Batter Tory Support

CANADIAN PRESS

OTTAWA - The last full week of the federal election campaign is starting off bumpy for Stephen Harper. The prime minister awoke Monday to a slew of bad news: his Conservatives were sliding in the... Read more

Meme-It

Dow drops more than 200 in early trading

ASSOCIATED PRESS

NEW YORK - Stock prices are sharply down in early trading, following the lead of other markets around the globe. The Dow Jones Industrial Average was down 218 points in today's early going. The Nasdaq Composite Index is off 48 points and the... Read more

Meme-It

Treasury and Fed pledge rapid response to crisis

ASSOCIATED PRESS

WASHINGTON - The president's top economic advisers are pledging to work with their counterparts around the world to restore confidence and stability to financial markets. The President's Working... Read more

Meme-It

European, Asian markets plunge on crisis fears

ASSOCIATED PRESS

LONDON - Asian and European stock markets plunged Monday as government bank bailouts in the U.S. and Europe failed to alleviate fears that the global financial crisis would depress world economic... Read more

Meme-It

Oil falls as financial turmoil spreads

ASSOCIATED PRESS

Oil prices briefly fell to an eight-month low below $90 a barrel Monday on speculation that the spreading financial crisis will exacerbate a global economic slowdown and cut demand for crude oil. ... Read more

Meme-It

Unicredit's Profumo acknowledges errors

ASSOCIATED PRESS

MILAN, Italy - Unicredit Chief Executive Alessandro Profumo acknowledged Monday that Italy's largest bank had underestimated the significant market changes since the collapse of the U.S. investment... Read more

Meme-It

A Choice for Latin America; Should the United States Continue to Subsidize Governments That Treat It As an Enemy?

THE WASHINGTON POST

WITH U.S. attention fixed elsewhere, a significant part of Latin America continues to march away from the "Washington consensus" of democracy and free-market capitalism that has governed the region... Read more

Meme-It

Iraq Stock Exchange Having a Banner Year

UNITED PRESS INTERNATIONAL

Iraq's small stock exchange is enjoying a prosperous year, even while markets founder in Australia, Europe, the United States and Asia. Ninety-four companies are listed on the Iraq Stock... Read more

Meme-It

Stock Markets Down Another Nine Per Cent, Nearly a Third This Year

CANADIAN PRESS

TORONTO - Falling oil prices pounded the Canadian stock market Monday, dragging the benchmark index to its lowest level in more than four years as fears mounted that the growing financial crisis is... Read more