The Federal Reserve warned Wednesday that the nation's crippled economy is even worse than thought and predicted it would deteriorate throughout 2009, with no sign that the housing market will stabilize. ...more

February 18, 2009

Wall Street joined stock markets around the world in a huge sell-off Friday, sending major market indexes to their lowest levels in more than five years on the belief that a punishing economic recession is at hand. A grim outlook from electronics maker Sony helped trigger the selling, and another bleak forecast from the automaker Daimler added momentum to the drop. ...more

October 25, 2008

Shares of Countrywide Financial Corp., the nation's largest mortgage lender, sank to an all-time low Tuesday as a major home builder offered a grim outlook for the industry and amid signals that the Bush administration is growing more concerned about rising mortgage defaults. ...more

January 9, 2008