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Top World News

Dow plunges 733 as new data points to recession (AP)

Traders work on the floor of the New York Stock Exchange, October 15, 2008. U.S. stocks slid at the open on Wednesday as investors worried that efforts to ease the credit crisis would not avert a recession, overshadowing solid profits from Coca-Cola Co , a bellwether for consumer spending. REUTERS/Brendan McDermid (UNITED STATES)AP - Despair over the economy has sent Wall Street plunging again, propelling the Dow Jones industrials to their second-largest point loss ever. Stocks fell on a combination of disheartening economic data, including a big drop in retail sales and a Federal Reserve report that said tight credit conditions are hurting businesses across the country.


McCain seeks to recharge candidacy at final debate (AP)

Republican presidential candidate, Sen. John McCain, R-Ariz., greets supporters outside the Hilton New York before boarding their motorcade in New York, Wednesday, Oct. 15, 2008. McCain and Democratic presidential rival Barack Obama will debate for the third and last time Wednesday night during a 90-minute nationally televised forum focusing on the economy and domestic policy. (AP Photo/Carolyn Kaster)AP - John McCain sought to change the course of a campaign moving decidedly in Barack Obama's direction Wednesday night in the third and final presidential debate.


 

Business News

Bernanke says U.S. economy facing big threat (Reuters)

Federal Reserve Chairman Ben Bernanke addresses the Economic Club of New York regarding financial markets in New York, October 15, 2008. (Lucas Jackson/Reuters)Reuters - Turmoil in credit markets poses a "significant threat" to the U.S. economy, Federal Reserve Chairman Ben Bernanke said on Wednesday, suggesting an openness to further interest-rate cuts.


Wall Street sinks on fears of deep recession (Reuters)

Traders work on the floor of the New York Stock Exchange, October 15, 2008. (Brendan McDermid/Reuters)Reuters - Stocks tumbled on Wednesday as bleak economic data fed worries that all the efforts to unlock credit markets may not stave off a severe recession.