ECB, Fed provide $150 billion to boost market liquidity

11:46 am ET Aug 9, 2007

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ECB, Fed provide $150 billion to boost market liquidity

LONDON
The world's two biggest central banks stepped in to assuage fears of a
credit-market crunch Thursday, pumping some $150 billion into volatile
markets in an effort to boost liquidity.

Market Snapshot: U.S. stocks slide as ECB moves to offset credit
worries

NEW YORK
U.S. stocks turned negative Thursday, capping a three-day surge that had
the Dow gaining the most in nearly four years, as credit worries bubbled
back to the surface, prompting action by the European Central Bank and
the Federal Reserve.

BNP suspends fund valuations amid credit-market turmoil

LONDON
French bank BNP Paribas said Thursday that it will temporarily stop
valuing three of its funds and won't allow customers to withdraw their
investments after U.S. subprime-mortgage woes led to the "complete
evaporation of liquidity."
Home Depot says may cut price for supply business

NEW YORK
Home Depot Inc. on Thursday said it's in talks with the buyers of its
supply business on cutting the purchase price from the original $10.33
billion.

July was hot, but not for retailers as consumers stayed away

CHICAGO
Retailers struggled to sell shirts, shorts and shoes in July as shoppers
spent less while they grappled with economic anxieties and volatility
that has rocked financial markets.