Top developments Monday regarding the beleaguered U.S. economy:
Top developments Monday regarding the beleaguered U.S. economy:
kPresident Bush declared “we’re in challenging times” after meeting with top economic officials — including Federal Reserve Chairman Ben Bernanke.
kOn Wall Street, the Dow closed up 21.16 points for the day after diving nearly 200 points earlier in the session as investors grappled with JPMorgan Chase’s government-backed buyout of investment bank Bear Stearns.
kThe Federal Reserve reported that the nation’s industrial output fell in February by the biggest amount in four months.
kThe dollar plunged as low as 95.72 yen — its weakest trading level against the Japanese currency since August 1995.
k Oil prices fell $4.53, settling at $105.68 a barrel on the New York Mercantile Exchange.