newmogul

“General Electric Co. and Caterpillar Inc. lost more than
9.7 percent following a report that manufacturing contracted at
the fastest pace in 26 years. American Express Co. and JPMorgan
Chase & Co. fell more than 15 percent on Oppenheimer & Co.
analyst Meredith Whitney’s prediction that credit-card companies
will cut available lending by 45 percent, or more than $2
trillion. Treasuries rose, sending yields to record lows, as
Federal Reserve Chairman Ben S. Bernanke said the central bank
may buy bonds to combat the worsening recession.” source...