U.S. stocks tank into the close; Dow marks 3rd-largest point loss

Date: Thu, 09 Oct 2008 17:04:34 -0400
U.S. stocks tank into the close; Dow marks 3rd-largest point loss

U.S. stocks on Thursday sprint to fresh five-year lows, with the major
indexes slammed for a seventh straight session as financial shares and
General Motors Corp. tank and global credit woes spur panic-stricken
investors to flee equities.

Therese Poletti's Tech Tales: Tech investors should be preparing for
more bad news

SAN FRANCISCO
Next week, the earnings barrage for the technology sector begins, with
third quarter reports from big giants such as Apple Inc., Google Inc.
and Intel Corp.

Three bank stocks on big discount worth buying

Erin Davis, who follows the banking industry for Morningstar Inc., says
that "none of the economies can continue to operate without banks, and
if you think all banks are going out of business, you might not want to
be in stocks at all."

Icelandic government takes control of country's top lender

Icelandic authorities say they have taken control of Kaupthing Bank, the
country's biggest lender, as the financial crisis in the region
continues to deepen.

GM falls to 1950 levels; European sales stung

SAN FRANCISCO
General Motors Corp. shares, already reeling from the widening credit
crisis that has crippled Wall Street, fell as much as 33% on Thursday,
dropping to levels last seen in the springtime of 1950.
MARKETWATCH COMMENTARY

Irwin Kellner: The credit markets will recover, but it will take
patience

PORT WASHINGTON, N.Y.
Monday's stock market sell off largely reflected concern that the rescue
package passed by the Congress and signed into law late last week will
not unclog the financial markets anytime soon.