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Dow Falls Below 11,000, Despite Drop in Oil Prices
Summary from multiple countries, from articles in English
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Stocks ended a volatile session in the red on Tuesday, despite a sharp drop in oil prices, after economic policy makers issued dour predictions and skepticism arose about the government's efforts to shore up the nation's financial sector. (article 4)
Every major index was in the red by midday, with Hong Kong's Hang Seng Index dropping 3.2 percent and Taiwan's benchmark losing nearly 4 percent at one point. (article 5)
While losses spread across most sectors, banks were hit particularly hard as investors worried that trouble in the U.S. financial markets would spillover to Asia. (article 5)
Shares ended lower Monday afternoon as investors remained unconvinced that Washington's plan to shore up the mortgage giants Fannie Mae and Freddie Mac would help the broader economy. (article 3)
Global shares have fallen sharply on fears over the state of the US economy, with the Dow Jones index closing at its lowest level in two years. (article 1)
Share prices followed Tuesday's rebound with a steep plunge today, as fears about the financial system again gripped Wall Street. (article 7)
During the day's testimony, Treasury Secretary Henry Paulson also said the Bush administration has no immediate plans to lend money to the mortgage giants or buy their stock. (article 2)
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Other summaries about this story:
Other stories about Freddie, Fannie and Mac:
Event tracking:
Story keywords
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Freddie, Fannie, Mac, mortgage, Treasury |
Source articles
- US concerns prompt market falls (BBC News, 07/15/2008, 536 words)
- Stocks end mostly lower even as oil prices retreat (Washington Post, 07/15/2008, 425 words)
- Stocks Fall Back After Early Gains on Rescue Plan (nytimes.com, 07/15/2008, 970 words)
- Dow Falls Below 11,000, Despite Drop in Oil Prices (nytimes.com, 07/16/2008, 662 words)
- Asia stocks down on US financial worries (Washington Post, 07/15/2008, 316 words)
- Will 401(k) losses set off panic? :: CHICAGO SUN-TIMES :: Terry Savage (suntimes.com, 07/14/2008, 1018 words)
- Money & Company (latimesblogs.latimes.com, 07/15/2008, 548 words)
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blaster@cs.columbia.edu
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