US stocks tumble on GM fate, financial woes

October 1st, 2009 NY audit finds financial woes in East HamptonEAST HAMPTON, N.Y. — A New York state audit of finances in a town filled with millionaires blames fiscal mismanagement for a deficit that required $15 million in bonding to cover budget shortfalls.

September 24th, 2009 NEW YORK - Wall Street benchmarks lost ground Thursday after a renewed, unexpected drop was reported in sales of existing homes, despite an earlier reported surprise decrease in new unemployment claims had pointed to a stabilizing economy. The rate-setting Federal Reserve Board announced Thursday that it would cut back a programme established to bolster credit markets at the height of the financial panic a year ago.

July 15th, 2009 Obama is briefed on CIT Group's statusWASHINGTON — President Barack Obama has been briefed on the potential collapse of the CIT Group Inc. White House spokesman Robert Gibbs says Obama has been given an update on the financial giant that lends to small and mid-sized businesses.

July 10th, 2009 NEW YORK - US stocks edged up Thursday, led by financial shares, which were buoyed by a positive report on banking giant Goldman Sachs. Bank of America suggested buying Goldman Sachs shares, helping financial firms close 1.4 percent higher on the day.

June 10th, 2009 NEW YORK - Technology and bank stocks led most shares up on Wall Street Tuesday. Financial stocks were buoyed by news that 10 of the largest US banks which received emergency government bail-out funds at the height of the financial crisis last year have been authorised to repay the money.

May 16th, 2009 NEW YORK - US stocks fell Friday, capping one of the worst weeks since March as oil prices fell while a government official suggested some banking executives could be forced out in the coming weeks. Crude oil dropped 3.9 percent to $56.34 per barrel in New York trading, pushing energy shares lower.

May 13th, 2009 NEW DELHI - Several private TV channels said ration cards would be accepted as identity cards for voters at polling booths. But that wasn't the case and the top poll official in Tamil Nadu took the media to task for it.

May 8th, 2009 Gold prices inch higher as dollar weakensNEW YORK — Gold prices are slightly higher as the dollar shows more weakness and stocks tumble on Wall Street. Energy and agriculture futures are also slightly higher.

April 21st, 2009 Gold prices dip as stocks move higherNEW YORK — Gold prices are slightly lower as stocks gain ground. Oil prices are flat, while grain prices are up.

April 14th, 2009 NEW YORK - A banking rally has helped US stocks make limited gains after mixed trading which began with poor earnings forecasts from planemaker Boeing Co and energy giant Chevron Corp. Financial stocks climbed 4.8 percent Monday, led by Citigroup Inc and Bank of America Corp as many in the sector prepared to release quarterly earnings this week.

March 20th, 2009 NEW YORK - US stocks fell for the first time in three days Thursday as investors had second thoughts about Federal Reserve actions to shore up the US financial sector. The Fed said Wednesday it would buy $300 billion in long-term government bonds, an unprecedented effort to help drive investors back into the private sector, and will purchase another $750 billion in troubled mortgage-backed securities at the heart of the financial crisis.

March 11th, 2009 NEW YORK - US stocks posted their largest rally of the year Tuesday, following the lead of European markets after troubled banking giant Citigroup Inc said it was experiencing its best quarter since 2007. Citigroup's chief executive Vikram Pandit said in an internal memo that the company was profitable in the first two months of 2009 after five straight quarters of losses, Bloomberg News reported.

February 26th, 2009 WASHINGTON - US stocks fell Wednesday after a reported sharp drop in home sales and the markets' mixed response to the treasury department's plan to stabilise the banking system. The decline erased Tuesday's strongest gain in a month and came despite assurances from Federal Reserve Chairman Ben Bernanke that the government would not nationalise major US banks in danger of collapse.

February 21st, 2009 NEW YORK - US stocks slid further Friday as investors around the world grew more concerned about the deteriorating economy. The market tumbled as the uncertainty about how government would remove banks' bad assets is still weighing.

January 19th, 2009 TOKYO - Tokyo stocks opened lower Tuesday as investor sentiment remain jittery about global economic outlook. In the first 15 minutes of trading, the 225-issue Nikkei Stock Average lost 92.59 points, or 1.12 percent, from Monday to 8,164.