Nasdaq plunges to four-year low as tech stocks sell off

Date: Mon, 06 Oct 2008 17:04:09 -0400
Nasdaq plunges to four-year low as tech stocks sell off

Technology stocks plunge as the growing worldwide financial crisis slams
the Nasdaq for losses of more than 8% - pushing the index to its lowest
point in four years.

Fed, Treasury take new steps to aid markets; key official named

The Federal Reserve and the Treasury Department announce new steps to
deal with the continuing turmoil in financial markets, including naming
the official to run the effort to buy so-called "toxic" mortgage
assets.

Fuld blames Lehman's fall on lack of confidence

Facing skeptical and angry members of Congress, Lehman CEO Richard Fuld
blamed the bankruptcy of his firm on a "lack of confidence", saying in
testimony he and other executives did everything they could to protect
the investment bank.

Economic Report: U.S. could recover in spring, economists' group says

Three weeks ago, economists surveyed by a leading trade association said
the U.S. economy would recover from the current recession in the second
quarter of next year, assuming the credit squeeze in global financial
markets improved gradually. But that was before a new round of credit
worries, bank failures and bailouts.