World-News

Elizabeth Stanton, Bloomberg: "U.S. stocks tumbled to a three-month low, extending a global slump, as a record contraction in New York manufacturing spurred concern the government's stimulus package won't be enough to curb the deepening recession. Bank of America Corp., Citigroup Inc. and JPMorgan Chase & Co. lost at least 8 percent. General Motors Corp., the biggest U.S. carmaker, retreated 15 percent before taking its case for more government support to the Treasury today. Financial shares led declines in Europe and Asia on concern banks may face ratings downgrades and further losses."

https://www.truthout.org/021709E



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