Wall Street tumbles

Posted by 7Star Wednesday, April 1, 2009

US stocks tumbled on Monday as two major US automakers took a step closer to potential bankruptcy, and a spate of European bank rescues heightened concerns over the financial systems health, putting the brakes on a recent run-up. In the latest efforts in its campaign to shore up the economy and struggling corporations, the US administration forced out General Motors Corps CEO, pushed Chrysler LLC toward a merger and threatened bankruptcy for both.

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