http://biz.yahoo.com/ap/090302/wall_street.html">Wall Street Tumbles Anew as Financials Slide; Dow Below 6,900, S&P Down 4%- APInvestors turned cautious again Monday as a staggering $61.7 billion in quarterly losses at insurer American International Group Inc. touched off fresh worries about the health of the nation's financial system. The Dow Jones industrial average fell below 7,000 for the first time in more than 11 years as investors grew pessimistic about the health of banks, and in turn the economy. The blue chips hadn't traded below the psychological barrier since Oct. 28, 1997, and last closed below that mark on May 1 of that year.
- AIG posts record loss, bailout is restructured- AP
- Oil plunges more than 10 percent on economic woes- AP
- Stocks Will Tell When Economic Tide Is Turning- WSJ.com
- http://biz.yahoo.com/ap/090302/eu_britain_earns_hsbc.html">HSBC to raise $17.7B, cut US jobs as profits fall- AP
- Manufacturing index, construction spending fall- AP
- GE shares hit 16-yr low days after dividend cut- AP
- Genentech makes case for higher Roche offer- AP
- Roubini: Why Bill Gross Is Wrong and I'm Right About Nationalizing Banks- Tech Ticker
- Bank Stress Tests: Design Is Fine, But Concept Fundamentally Flawed, Roubini Says- Tech Ticker
Perhaps this is the best collection of the worst stock market and economic news that we will ever see in our lifetimes. Time will tell.
