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Business and financial news - CNNMoney.com
Business and financial news - CNNMoney.com
  • S&P 500 sinks 6.7% to '97 low
    Wall Street slumped Thursday afternoon and the S&P 500 closed at an 11-1/2 year low as fears of a prolonged recession sparked a massive selloff.



  • Asian markets rebound strongly
    Most Asian markets rebounded strongly in afternoon trading Friday, with financials such as Mizuho Financial Group and HSBC Holdings leading the bounce after a string of recent declines.



  • Big banks get crushed
    Bank stocks plunged again Thursday with some of the biggest names in the industry falling to their lowest levels in more than a decade. It's anybody guess when the selloff will end.



  • Citi plunges 26% - lowest in 15 years
    Citigroup Inc. suffered another brutal day on Thursday as shares tumbled to their lowest level in more than 15 years.



  • Auto bailout: Not now, maybe later
    With the prospects of an auto bailout this week all but dead, Democratic leaders said Thursday that Congress would return in December to consider extending a $25 billion lifeline for troubled U.S. automakers if the companies devise a "viable" recovery plan.



  • The Big 3 Depression risk
    The U.S. auto industry weathered the Great Depression. But there are some fears that its current crisis could cause another one.



  • Unemployed? More help for you
    Congress passed legislation late Thursday to extend the period of government assistance to Americans struggling in the shrinking job market.



  • JPMorgan cutting investment bank staff



  • Dell: Lower earnings and revenue
    Dell Inc., reporting lower quarterly earnings and revenue, said Thursday that the global economic slowdown has caused consumers and businesses to pull back on technology spending.



  • Kick GM out of the Dow...now!
    General Motors has a market capitalization of just $2.1 billion. The stock, which now trades for a little more than $3.50 a share, hit a 70-year low on Thursday.




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Robyne Wilkerson
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