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Breaking News

Dow unofficially ends down 673.82 points or 7.63 pct; S&P down 8.84 pct; Nasdaq falls 8.83 pct   4:04pm EST

Today on Reuters 

Traders work in close quarters on the main trading floor of the New York Stock Exchange early in the trading session in New York City, November 21, 2008. REUTERS/Mike Segar

Stocks sink on worries 2:20pm ET

Wall Street tumbled as signs of further deterioration in the global economy punctured last week's market enthusiasm, with financial and retail stocks among the biggest drags.  Full Article | Full Coverage 

U.S. officially in recession: panel
Factbox: U.S. recessions since 1923
Bernanke: U.S. must act with vigor
The Verdict: Analysts on Bernanke
Car sales slide shows crisis worse
Traders work in close quarters on the main trading floor of the New York Stock Exchange early in the trading session in New York City, November 21, 2008. REUTERS/Mike Segar

Stocks sink on worries 2:20pm ET

Wall Street tumbled as signs of further deterioration in the global economy punctured last week's market enthusiasm, with financial and retail stocks among the biggest drags.  Full Article | Full Coverage 

U.S. officially in recession: panel
Factbox: U.S. recessions since 1923
Bernanke: U.S. must act with vigor
The Verdict: Analysts on Bernanke
Car sales slide shows crisis worse
President-elect Barack Obama introduces his national security team as Secretary of State nominee Sen. Hillary Clinton and National Security Adviser nominee retired Marine General James Jones look on during a news conference in Chicago December 1, 2008.

A team of rivals 2:17pm ET

Barack Obama named former rival Hillary Clinton as secretary of state and said Robert Gates would remain defense secretary.  Full Article | Factbox 

Analysis: Defense policy under Gates
How women see Clinton appointment
Scenarios: Homeland Security issues
Scenarios: Issues for Attorney General
Slideshow: The odd couple

after the bell

A trader looks at a screen displaying stock price graphs as he works on the main trading floor of the New York Stock Exchange early in the trading session in New York City, November 21, 2008. REUTERS/Mike Segar
Worries abide

U.S. automakers, battling for survival, unveil monthly sales in the day ahead and go to Congress with restructuring plans aimed at securing a Federal bailout.
  Full Article 

Media summit

Rob Marcus, CFO of Time Warner Cable, poses after speaking at the Reuters Media Summit in New York, December 1, 2008. REUTERS/Brendan McDermid
Tough 2009 for cable giant

Time Warner Cable is on track to sell close to 2.5 million video, Internet and phone subscriptions this year, but will likely sell fewer services in 2009 due to the economic slowdown, CFO Rob Marcus says.  Full Article | Blog 

Full Coverage: Media Summit
John Kemp
Uncertainty paralyzes system
John Kemp

Even as the Fed has added liquidity and boosted bank reserves, the credit creation process has remained stalled as banks struggle to identify borrowers willing and able to repay in a wide range of future economic conditions.  Commentary 

to

Commodities

Commodity Last Pct Chg Trade Date/Time
Oil 47.96 -11.53% 01 Dec 2008 16:00 EST
Gold 768.5 -6.05% 01 Dec 2008 15:58 EST
Photo
Crisis in Credit

Follow the financial crisis using our interactive video timeline. Track the global impact on our interactive map.  Full Coverage 

Photo
The case for piracy

As far as illicit businesses with low risk and high rewards go, it doesn't get much better than piracy on the high seas. Columnist Bernd Debusmann examines why.  Commentary 

Shoppers pass a window display at the high-end luxury goods maker Gucci along 5th Avenue in New York, November 19, 2008.
Holiday Shopping

Retailers and shoppers are adjusting to the impact of the financial crisis, especially during the busy holiday season. Take a closer look.  Full Coverage 

Pictures

View Slideshow 
View Slideshow View SlideshowSlideshow  
Odd couple
12:13pm EST 
President-elect Barack Obama announced his national security team, nominating former rival Hillary Clinton as secretary of state.
More Pictures...

Video

Play Video Play VideoVideo 
The long wait for Congo refugees

Dec 1 - Congo refugees depend on U.N. handouts while fighting continues around them, despite peace agreement.  Play Video

 
Indian stars hold Mumbai vigil
Police targeted in Iraq bombings
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