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US stocks surge late in day after 8 days of losses (AP)

A broker reacts at the stock market in Frankfurt, central Germany, Wednesday, Oct. 8, 2008. European markets tumbled in early trading Wednesday amid ongoing fears about the state of the credit markets. (AP Photo/Michael Probst)AP - Wall Street seesawed Friday, with the Dow Jones industrials spinning from an early loss of nearly 700 points to a 100-point late-session advance while investors looked for bargains after eight straight days of massive losses. The Dow still headed for its worst week ever, though, as investors still worried about credit markets that remain near paralysis.


Bush says financial rescue plan big enough to work (AP)

President Bush makes a statement on the economy, Friday, Oct. 10, 2008, in the Rose Garden of the White House in Washington. (AP Photo/Ron Edmonds)AP - President Bush said Friday that the government's financial rescue plan was aggressive enough and big enough to work, but would take time to fully kick in. "We can solve this crisis and we will," he said in brief remarks from the White House Rose Garden.


 

Business News

Wall St giants buried in global stock market panic (Reuters)

A broker pauses as he trades sterling swaps at ICAP, in London October 10, 2008. Europe joined Asia's panic selling of stocks on Friday, knocking the benchmark world equity index to a 5-year trough, while the low-yielding yen jumped as fears grew that policymakers' efforts to contain the global financial crisis won't be enough. (Suzanne Plunkett/Reuters)Reuters - Wall Street titans buckled under the weight of a global stock market panic on Friday as the finance chiefs of the world's major economies gathered in Washington to confront the inescapable financial crisis.


Wall St. slides on credit, recession fears (Reuters)

A trader works on the floor of the New York Stock Exchange, October 7, 2008. (Brendan McDermid/Reuters)Reuters - Stocks tumbled in a turbulent session on Friday, as panicked investors dumped stocks in a global sell-off on mounting fears that frozen credit markets would push the world into recession.