updated 9:24 pm EST

Wachovia, Citigroup, Wells agree to standstill

Citigroup Inc. said Monday it has filed a complaint in New York Supreme Court against Wachovia, Wells Fargo and the directors of both companies seeking more than $60 billion.

INDUSTRIES

US financial bailout: It is rocket science

The Treasury Department moved swiftly Monday to implement the financial rescue package.(7:07 PM EST)

Fed to provide as much as $900B in loans to banks

POLITICS & POLICY

Lehman sought millions for execs while seeking aid

Days from becoming the largest bankruptcy in U.S. history, Lehman Brothers steered millions to departing executives.(8:27 PM EST)

INDUSTRIES

Eli Lilly to buy ImClone for more than $6B

Eli Lilly & Co. has agreed to spend more than $6 billion to fortify its cancer treatment portfolio.(5:17 PM EST)

INDUSTRIES

Oil prices fall as financial turmoil goes global

Oil prices sunk below $90 a barrel Monday for the first time in eight months, a key price support level.(7:48 PM EST)

INDUSTRIES

Bank of America settles suits over bad mortgages

Facing a lawsuit over deceptive mortgage practices, Bank of America Corp. is agreeing to pay more than $8 billion to modify loans.(Oct 06)

IBT Features

Battered financial industry faces more oversight

AP File Photo

Dow finishes below 10,000 for first time since '04

Financial markets took a bleak view of the future Monday, seeing contagion in a credit crisis that threatens to cascade through economies globally despite government efforts to provide relief. The Dow Jones industrials skidded around 600 points and fell below 10,000 for the first time in four years, while the credit markets remained under strain. Full Story