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FED ORDERS EMERGENCY HALF-POINT RATE CUT TO 1.5 PERCENT AFTER WORLD MARKETS PLUNGE OVERNIGHT

Forget Logic; Fear Appears to Have Edge
The technical term for it is “negative feedback loop.” The rest of us just call it a panic.How else to explain yet another plunge in the stock market Tuesday that sent the Standard & Poor’s 500-stock index to its lowest level in five years — particularly in the absence of another nasty surprise?
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British government will partially nationalize banks
The British government announced a 50 billion pounds ($87.5 billion) plan today to partly nationalize major banks, with taxpayers taking stakes in a bid to shore up a financial sector hard hit by the world financial crisis. Prime Minister Gordon Brown billed it as a "radical" plan to stabilize banks so that they could resume normal lending and other operations...
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Asian stocks plunge on unabated recession fears
LONDON — European markets tumbled in early trading today amid ongoing fears about the state of credit markets despite the British government's 50 billion pound ($87.5 billion) rescue package for the banking system. In Asia, Japan's Nikkei suffered its worst day since the 1987 stock market crash.
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