U.S. stocks down after coordinated rate cuts around the globe

Date: Wed, 08 Oct 2008 12:03:39 -0400
U.S. stocks down after coordinated rate cuts around the globe

U.S. stock indexes were mixed after the Federal Reserve axed interest
rates in a synchronized move with other central banks in another effort
to stem the panic freezing of the credit markets.

The Fed: Fed, major central banks slash rates in coordinated easing

The U.S. Federal Reserve, the Bank of England, the European Central Bank
and other major central banks all move to slash key interest rates,
aiming to to head off global financial turmoil that has world economic
growth at risk.

The Fed: More rate cuts in train

Economists are convinced that there will be more rate cuts in coming
weeks, as global central banks seek to get the financial market
functioning.

Candidates clash over economy in second debate

Sens. Barack Obama and John McCain clashed over the financial crisis,
health care, energy and taxes in an economy-dominated debate on Tuesday
night, offering competing visions to 80 undecided voters and a national
television audience in a town-hall setting in Tennessee.

Retailers' September sales miss forebodes a tough holiday

Foreshadowing what may be a grim holiday selling period, initial results
from U.S. retailers show disappointing September sales, as a global
financial crisis made shoppers even more reluctant to spend.