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.
Economists getting gloomier about outlook
In its official forecast released Monday, the National Association of Business Economists said they expect the U.S. economy to come to a halt in the fourth quarter, showing no growth in the last three months of the year.
World markets plunge as turmoil spreads
Global 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 economic growth.
Report: Fed pushes suitors to share Wachovia
Federal Reserve officials have been pushing for Citigroup Inc. and Wells Fargo & Co. to reach a compromise over Wachovia Corp., according to a media report.
Crisis aside, many face other economic woes
The crisis on Wall Street is drawing attention away from the financial problems many Americans were already facing because of the weak economy.
Treasury, Fed pledge rapid response to crisis
The president’s top economic advisers are pledging to work with their counterparts around the world to restore confidence and stability to financial markets.
EBay to cut 1,000 jobs, buy Bill Me Later
EBay Inc. said Monday it will cut about 1,000 employees, reducing its work force by about 10 percent.
Hearings open on financial meltdown
Three days after providing a $700 billion bailout for Wall Street, Congress is holding its first hearing into what caused U.S. financial markets to collapse last month.
Answer Desk:Â Why not arrest CEOs?
The government's $700 billion plan to rescue the creaking financial system has prompted readers to ask, why can't we just arrest the CEOs responsible for this mess?
Oil hovers around $90 as financial woes spread
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.
Eli Lilly to buy ImClone for over $6 billion
The drugmaker Eli Lilly & Co. says it has agreed to buy biotechnology company ImClone Systems Inc. for more than $6 billion.
Battle for Wachovia tilts toward Wells Fargo
The battle for control of troubled bank Wachovia tilted toward Wells Fargo Sunday as a state appeals court blocked a lower court ruling that had favored rival bidder Citigroup.
Next president may be hamstrung by bailout
Even with the $700 billion bailout, the financial crisis and fragile economy promise to loom large over the opening days of the next administration.
Credit crunch puts squeeze on businesses
If companies around the globe are unable to borrow, they'll begin to cut jobs, cease investment, and default on their debt in larger numbers.
Wall Street’s wild swings expected to continue
The world's financial markets face an uncertain and possibly volatile week as investors await details about how the Treasury will implement the government's financial rescue.
Bank on it — bank failures will rise next year
Here's a safe bet for uncertain times: A lot of banks won't survive the next year of upheaval despite the U.S. government's $700 billion plan to restore order to the financial industry.
Newsweek: Trying to avoid the lessons of 1929
Unlike during the Great Depression the government is now a huge part of the economy. And officials have moved quickly, if clumsily, to contain the crisis.