Finance
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Wall Street set to follow global sell-off
(AP)
AP - Financial markets around the world had a rocky start Monday after European governments took steps to limit the damage from the growing global financial crisis. U.S. stocks looked to have a steep drop at the opening, and the credit markets remained under strain.
AFP - World markets suffered massive losses Monday, striking four-year lows, as panic-stricken investors doubted whether a Wall Street bailout package would stem the global financial crisis.
AP - 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 growth.
Reuters - Stock futures slid on Monday as concerns about the widening fallout from the credit crisis fueled a global equities sell-off and bank rescues in Europe heightened fears about the stability of major financial institutions.
AFP - The London stock market dived by more than 6.0 percent to hit a four-year low on Monday, as banking stocks were battered by heightened concerns over the global financial crisis.
Reuters - World stocks plunged to three-year lows on Monday as investors fled to government bonds, gold and the low-yielding yen, fearing policymakers' efforts to contain the credit crisis might not be enough to prevent a recession.
AP - 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 package — and watch for any further fallout from the credit crisis around the globe.
AFP - The Tel Aviv stock exchange, one of the few world markets open on Sunday, took a dive despite Washington's approval of a 700 billion dollar bailout aimed at forestalling a global financial meltdown.
AFP - China will soon allow margin trading and short selling of securities on a trial basis, the China Securities Regulatory Commission (CSRC) said Sunday.
Reuters - Wall Street's mood will likely remain dark this week as fallout from the credit crisis continues to corrode the U.S. economy and questions linger about the likely effectiveness of the newly passed bailout plan in shoring up the financial system.
AFP - A brutal week on Wall Street ended with the approval of a massive US government lifeline for the troubled financial sector, but investors are still searching for a reason to cheer.
Reuters - The U.S. government enacted a landmark $700 billion bank bailout on Friday, but investors questioned whether it could contain a panic that began on Wall Street and spread to become a global financial crisis.
AFP - Stock markets rallied Friday as investors looked to the US Congress for quick and final action on a 700-billion-dollar Wall Street bailout and took heart from a new US bank takeover.
Reuters - Shares of Citigroup fell 8 percent to $20.69 in pre-market trade after a merger deal was announced between Wachovia Corp and Wells Fargo & Co .
Reuters - Shares of Wachovia Corp jumped 64 percent to $6.42 before the bell on Friday after news that the bank had agreed to merge with Wells Fargo & Co .
AFP - US President George W. Bush Friday signed an economic rescue bill just hours after the US House of Representatives reversed course and approved the historic 700-billion-dollar Wall Street bailout.
Reuters - General Electric shares fell 8.7 percent to $22.38 before the bell on Thursday before of an expected stock offering.