U.S. stocks fall as traders await bail-out details

Date: Mon, 22 Sep 2008 12:03:02 -040
U.S. stocks fall as traders await bail-out details

Stocks traded lower on Monday, as the market mulled available details on
a $700 billion government plan to take the bad assets off of ailing
financial firms' balance sheets.

Microsoft, Hewlett-Packard and Nike unveil big buyback plans

Hewlett-Packard, Microsoft and Nike all announce multibillion-dollar
programs to repurchase their stock -- moves that could help prop up
their shares at a time of general market weakness.

Currencies: Dollar pressured by price tag of U.S. financial bailout
plan

Sticker shock weighs down the dollar as financial markets sort through
the implications of the U.S. government potentially taking on $700
billion in debt to finance a massive bailout and stabilization of the
financial sector and money markets.

Goldman, Morgan to become holding companies

In yet another extraordinary development for Wall Street, the Federal
Reserve says late Sunday night that venerable investment banks Goldman
Sachs and Morgan Stanley will become bank holding companies, subjecting
themselves to stricter federal oversight.

U.K. house prices down 1% in September, Rightmove says

British house prices slipped another 1% in September as financial
turmoil hung over the mortgage market, Rightmove said Monday.