U.S. stocks end lower as financials falter; GM battered
U.S. stocks finished lower Monday, sending the Dow Jones Industrial
Average back below 9,000, after early enthusiasm over China's economic
stimulus fading in favor of ongoing worries about U.S. companies,
including General Motors Corp.
THE RATINGS GAME: DEUTSCHE BANK CUTS GM TO SELL; SHARES SEEN LIKELY WORTHLESS
General Motors gets downgraded to sell from hold by Deutsche Bank,
which sees U.S. government intervention as inevitable. GM shares come
under renewed selling pressure.
THE FED: U.S. GOVERNMENT DRAMATICALLY ALTERS TERMS OF AIG'S BAILOUT
The Federal Reserve and the Treasury have restructured the
government's support for AIG, the insurance giant taken over on Sept.
16, in a sweeping manner. Investors in AIG applaud.
CHINA LIFTS WRAPS ON STIMULUS PACKAGE
China unveiled on Sunday what it described as a "massive" economic
stimulus package worth over half a trillion dollars in an effort to
reverse slowing economic growth in the world's most populous country.
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