Reuters - Stocks tumbled on Friday as another
round of weak economic data added to U.S. recession fears and a
record loss at insurer AIG underscored worries about
more write-downs in the financial sector.
Reuters - Stocks added to losses in late trading
on Friday, pushing the S&P 500 index down 3 percent on worries
about the economy and financial write-downs.
AP - Consumer spending is threatening to stall out while consumer confidence, battered by soaring energy costs and falling home prices, has taken a steep nosedive.
Reuters - Wells Fargo & Co, the fifth-largest
U.S. bank, said on Friday it has recorded a $39 million loss
tied to some complex debt that has lost value and which is held
by its money market mutual funds.
Reuters - The Federal Reserve’s rapid-fire
interest rate reductions were warranted, but the central bank
must reverse course quickly once calm is restored to financial
markets, Fed officials said on Friday.
Reuters - Wells Fargo & Co , the
fifth-largest U.S. bank, on Friday said it has recorded a $39
million loss tied to some complex debt that has lost value and
which is held by its money market mutual funds.