Wall Street: The bear is back

Stocks slumped Wednesday, with the Dow and Nasdaq ending in bear market territory on record oil prices, a 15% slump in GM stock and worries ahead of the June jobs report and ECB interest-rate decision, both due Thursday.

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How Lehman lost its way

To understand what went wrong at Lehman Brothers, leave the canyons of Wall Street and head to the flatlands of Bakersfield, 120 miles northeast of Los Angeles.

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Not so fast, senators tell Fed, SEC on bank pact (Reuters)

The Federal Reserve Building is seen in Washington June 25, 2008. (Yuri Gripas/Reuters)Reuters - As the Federal Reserve and
securities regulators neared an agreement on investment banks,
leaders of the U.S. Senate Banking Committee on Friday warned
them not to get ahead of Congress with any Wall Street reforms.



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Wall Street extends losses in volatile week (AP)

Specialist Glenn Carell watches the numbers as he works at his post on the New York Stock Exchange trading floor, Thursday June 26, 2008. Wall Street plunged Thursday, hurtling the Dow Jones industrials down to their lowest point in nearly two years as investors contended with a barrage of bad news: a surge in oil prices past $140 a barrel and warnings of trouble in the key financial, automotive and high-tech industries. (AP Photo/Richard Drew)AP - Wall Street ended a depressing week with another big loss on Friday, with the Dow Jones industrials falling more than 100 points amid ever-escalating worries about high oil prices and fallout from the credit crisis. The major indexes are all down more than 3 percent for the week.



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HSBC a canary in US mortgage mine - The Australian

HSBC a canary in US mortgage mineThe Australian, Australia - 11 hours agoWhen HSBC reports third-quarter results for its US business this week, it will provide an early look at what could be in store for US mortgage lenders, …HSBC Is Expected to Increase Reserves for Subprime Defaults Wall Street Journalall 2 …
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Stocks fall sharply on surge in oil, jobs data (AP)

Justin Vargas fuels up his truck which he uses for his work in carpentry and construction at a gas station in Half Moon Bay, Calif., Tuesday, May 27, 2008. Vargas fuels up his truck mostly with bio-diesel to save on expenses and tops off the tank with diesel. Oil prices shot up more than $11 to a new record above $139 Friday, June 6, 2008 after Morgan Stanley predicted prices would hit $150 by the Fourth of July. The unprecedented jump is all but certain to drive gas prices well past the $4 mark in the coming weeks. (AP Photo/Marcio Jose Sanchez)AP - Wall Street has plunged, with the Dow Jones industrials closing down more than 400 points, after oil prices shot higher and neared $140 for the first time.