U.S. stocks plunge as economic worries grow; Dow falls 307 points

Date: Thu, 17 Jan 2008 22:06:04 (GMT)

U.S. stocks plunge as economic worries grow; Dow falls 307 points

U.S. stocks sold off for a third straight day on Thursday, with the Dow
sinking to a 10-month low in its worst day since Nov. 7, after Federal
Reserve Chairman Ben Bernanke spoke about the country's economic trouble
and a regional measure of economic activity contracted.

The Fed: Bernanke endorses quick, temporary fiscal stimulus

WASHINGTON
Congress could help steer the economy away from recession if it adopted
a quick, efficient and temporary fiscal stimulus plan, Federal Reserve
Chairman Ben Bernanke told Congress on Thursday.
Merrill keeping stakes in BlackRock, Bloomberg
Despite facing huge write-offs and seeking capital from seemingly every
emerging-market investment group, Merrill Lynch like a refugee on the
run, still refuses to sell the family jewels.

GM sets next round of buyouts; savings mount

SAN FRANCISCO
General Motors Corp. announced on Thursday that it is on track to
achieve further cost savings beyond its 2010 targets, with the next
phase of its attrition program set for launch next month.