NEW YORK (Reuters) - Stocks tumbled for a fifth straight session on Tuesday, capping the Dow's biggest five-day point loss ever, as fears mounted that the rapidly spreading credit crisis would drag the economy into a deep recession.
NEW YORK (Reuters) - Wells Fargo & Co is likely to get about 75 to 80 percent of Wachovia Corp's deposits, while Citigroup Inc would get the remainder, a person briefed on the matter said on Tuesday.
NEW YORK (Reuters) - Aluminum producer Alcoa Inc said it was halting major capital projects in the face of uncertain markets, after it posted a lower-than-expected quarterly profit on softer demand in key sectors like the aerospace and auto industries.
NEW YORK (Reuters) - Morgan Stanley said on Tuesday its deal to sell a stake to Japanese bank Mitsubishi UFJ Financial Group Inc (MUFG) was on track to close promptly, easing fears about the agreement that sent its shares plummeting as much as 40 percent.
WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke on Tuesday signaled a readiness to lower U.S. interest rates in a dramatic shift to support an economy battered by a financial crisis of "historic dimension."
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