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Financial Crisis News Round Up

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For

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10-17-08

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Editor's Note: There will be additional postings added to summarize the end of the day's market trading.

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Late Evening Update on Friday Market Action

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Stock's Slide Friday

But Still Up 5% for Week

America's bell-weather barometer of the nation's stocks, The Dow Jones 30 Industrial's Average (DJIA) fell 127 points at Friday's close of 8,852 after another yo-yo day of ups and down.

Friday's stock action saw the Dow plummet on the open then rally dramatically to the upside, only to sell off at the closing.

Despite Friday's wild ride, the Dow ended up about 400 points with nealry 5% gains for the week, indicating that some level of confidence appears to be returning to the markets. More details, LINK HERE.

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Stories Below posted earlier on Friday

US Stocks Yo-Yo This Week

Up 400 On Thursday

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Oil Falls Below $70

OPEC Calls Emergency Mtg

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Oil Edges Back To $70

In Friday Trading

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Europe Stuns Midweek Mkts

With $1.5 Trillion Bank Rescue

LINK

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UBS & Credit Suisse Bailed Out

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The United Bank of Scotland and Credit Suisse Bank were both bailed out this week with rescue packages. Both banks were thought to be some of the most sound banks in the world. Remember the old phrase: "you can take it to the bank." Either bank would have fit that phrase until now. More details, LINK HERE.

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