updated 5:51 pm EST

Wall Street Slides as Retail Sales Sink

Stocks fell more than 500 points on Wednesday after optimism earlier this week. Analysts have warned that the market will see continued volatility as it tries to recover from the devastating losses of the last month.

INDUSTRIES

JPMorgan

JPMorgan profit sinks as credit deteriorates

JPMorgan Chase & Co.'s profit tumbled 84 percent on bad mortgage investments, leveraged loans and home loans.(3:41 PM EST)

INDUSTRIES

Wholesale prices drop for second straight month

Wholesale prices fell but excluding volatile energy and food costs, core prices had the biggest yearly gain in 17years.(Oct 15)

INDUSTRIES

Delta swings to 3Q loss

Hefty fuel costs were the culprit as the airline missed expectations despite a 9 percent rise in sales.(3:17 PM EST)

INDUSTRIES

Oil dips below $75 as OPEC cuts demand forecast

Oil prices slid on concerns that a massive bank bailout by the U.S. and Europe won't prevent a severe slowdown.(4:40 PM EST)

POLITICS & POLICY

Britain, France call for a global finance summit

British Prime Minister Gordon Brown called for talks this year amongst the world's top economies.(1:09 PM EST)

 

AP File Photo

Dow plunges 733 on new disheartening economic data

The economy was in deep pain even as the government pushed forward Wednesday with its latest financial rescue plan to exchange taxpayer money for stakes in the nation's banks. On Wall Street, the Dow shed more than 500 points on worries the U.S. was in a recession or soon would be, despite the plan announced Tuesday. Full Story

Inside IBT
  • 1 of 6
China Milk
POLITICS & POLICY
China reassures Taiwan consumers on milk safety
A day earlier a baby in Hong Kong developed kidney stones from consuming milk and cookies laced with melamine.
India, South Africa, Brazil
GLOBAL MARKETS
Brazil, SAfrica blame rich world for economic woes
The emerging countries want solutions to the global financial crisis that won't jeopardize their development.
Australia
POLITICS & POLICY
Australian PM slams 'obscene' corporate failures
Failures in governance and "extreme capitalism" are to blame for the global financial crisis, he said.
Thail soldiers
POLITICS & POLICY
Deadly fighting erupts at Thai-Cambodian border
The soldiers were killed as fighting rages in disputed area.
Triplets
POLITICS & POLICY
Identical triplets go home from NY hospital
The rare set of identical triplets conceived without fertility treatments left a Manhattan hospital Tuesday for their suburban home.
North Korean spy
POLITICS & POLICY
N.Korean sentenced to 5 years in prison for spying
A North Korean woman accused of using sex to elicit sensitive information from a South Korean military officer was sentenced Wednesday by a court in the South to five years in prison for spying.
China Milk
POLITICS & POLICY
China reassures Taiwan consumers on milk safety
A day earlier a baby in Hong Kong developed kidney stones from consuming milk and cookies laced with melamine.
India, South Africa, Brazil
GLOBAL MARKETS
Brazil, SAfrica blame rich world for economic woes
The emerging countries want solutions to the global financial crisis that won't jeopardize their development.
Australia
POLITICS & POLICY
Australian PM slams 'obscene' corporate failures
Failures in governance and "extreme capitalism" are to blame for the global financial crisis, he said.
Cuomo warns AIG on `outrageous' perks amid bailout

New York Attorney General Andrew Cuomo told American International Gro... Full Story

Okla. mayor nixes plan to help fund Jesus statue

The mayor of this conservative Oklahoma City suburb on Wednesday retre... Full Story

Credit markets see more gradual improvements

The government's efforts to crank open the credit markets have led to ... Full Story

Earnings Preview: IBM under pressure in 3rd qtr

IBM Corp. reports its full third-quarter results on Thursday. The foll... Full Story

ALL BUSINESS: Another fix for the financial crisis

Three weeks ago, Treasury Secretary Henry Paulson called the notion th... Full Story

Gale Harold
Gale Harold is kept in hospital in critical conditions after crash

Actor Gale Harold from the cast of "Desperate Housewives," i... Full Story

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