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USA UK and Malta News
30/09/2008 - 21:30

USA today Editoweb, 30 september 2008

Stocks surge higher; credit worries persist - Main Street America angry over credit crisis - Lawmaker urges SEC to halt market volatility.



Stocks surge higher; credit worries persist

Wall Street snapped back Tuesday after its biggest sell-off in years amid growing expectations that lawmakers will salvage a $700 billion rescue plan for the financial sector. But the seized-up credit markets where businesses turn to raise money showed no sign of relief.

Main Street America angry over credit crisis

Auto salesman Ryan Thomas is watching the credit crisis hit Main Street America. On Monday, as Congress rejected a bailout plan and stock markets plummeted, Thomas had to turn away a customer with $3,000 in his hand who wanted to buy a new vehicle.

Lawmaker urges SEC to halt market volatility

A senior U.S. lawmaker urged the U.S. Securities and Exchange Commission on Tuesday to reinstate an index arbitrage rule to halt market volatility.

Stocks claw back on bailout revival hopes

Stocks on Tuesday clawed back from Wall Street's worst slide in more than 20 years on Monday as investors bet Washington would resuscitate a plan to stabilize the U.S. financial sector despite Monday's defeat.

Toronto stocks rally 4.5 percent on oil, bailout hopes

 The Toronto Stock Exchange's main index climbed almost 5 percent on Tuesday as energy issues got a boost from crude's recovery while hopes for a deal on the $700 billion Wall Street bailout calmed investor nerves.

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