And in another sign of the global metastacization of the crisis, reports say UK bank Lloyds TSB is in advanced talks to buy HBOS, Britain's biggest home loan lender.
On the political side, new rules aimed against abusive "naked" short selling of stock in all publicly traded companies are issued by the Securities and Exchange Commission. The new rules, which include a requirement to deliver a security by the settlement date, are effective the very next day.
Stocks end the day at a three-year low as the Dow falls nearly 450 points. All 30 Dow components lose for the day, as do 90 of the 100 stocks in the tech-heavy Nasdaqindex. The lS&P 500 scrapes lows it last touched in May 2005. Crude oil prices surge.
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