stock market crash

Fed Report Hints At Depression--Markets Tank

The Federal Reserve Board’s Open Market Committee released the minutes of its October 28-29 meeting, today, in which some members raise the specter of economic depression extending more than 4 consecutive quarters. The report calls the present financial mess the worst in more than half a century, carefully avoiding direct references to the Great Depression. Stocks Tank Wall Street responded with 427 point (5.16 percent) collapse, with Citigroup leading financial stocks to a 10 percent crash.
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