Wall Street's Dow Jones Industrial Average fell as much as 800 points to trade below the 10,000 mark Monday as nervousness over the credit crisis spread after the US government's 700 billion USD bailout and interventions in Europe only seemed to add to investor anxiety.
Faced with worst economic and financial market crisis since 1929, Federal Reserve Chairman Ben Bernanke on Tuesday sent a strong signal that officials may lower interest rates against a backdrop of waning price pressures.
Neel Kashkari, 35, a United States Assistant Secretary of the Treasury, was named on Tuesday interim head of the Office of Financial Stability by US Treasury Secretary Henry Paulson. The office will run the 700 billion US dollars financial bailout program signed into law Friday.
The United States economy received a 700 billion US dollars shot in the arm Friday, and Puerto Rico and the US Virgin Islands got a shot of assistance from rum, according to the US Caribbean territories press.
Members of the United States House of Representatives are considering a revised 700 billion US dollars plan to rescue the US financial sector and should be taking a vote on Friday.
Alaska Governor Sarah Palin set the tone for how she would approach Thursday night's vice presidential debate before it began. Meeting Democratic rival Senator Joe Biden at center stage to shake his hand as they walked out, she greeted him warmly and said, Nice to meet you. Hey, can I call you Joe?
California is the latest US state to be feeling economic shockwaves from the financial crisis on Wall Street in the form of budget deficits, dwindling finances and plummeting pension funds.
The United States House of Representatives finally passed a 800 billion government plan to rescue the US financial sector. The 263-171 vote was the second in a week, following its shock rejection of an earlier version on Monday.
The United Status economy lost jobs in September at its fastest pace in more than five years, --with unemployment reaching 6.1%--, and the outlook from economists and surveys is grim despite Congress' emergency action Friday to stabilize the financial system.
The United States Senate approved Wednesday evening a new version of a 700 billion rescue plan for the troubled US financial system. Senators voted 74 to 25 in favor of the emergency legislation designed to stabilize volatile markets and limit further damage to the economy.