Tue 2 Dec 2008 | 6:34 EST
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Today on Reuters 

A man wipes his eyes after watching a stock index board outside of a brokerage in Tokyo December 2, 2008.

Global stocks tumble 6:00am ET

World stocks fell, erasing more than half of last week's gains, while oil hit a 3-1/2 year low and the yen and government bonds surged as concerns grew about a deep global recession.  Full Article | Full Coverage 

Goldman faces $2 billion loss: report
EU thrashes out economy plan
Credit Suisse to cut 650 jobs
Downturn hits corporate meetings
A man wipes his eyes after watching a stock index board outside of a brokerage in Tokyo December 2, 2008.

Global stocks tumble 6:00am ET

World stocks fell, erasing more than half of last week's gains, while oil hit a 3-1/2 year low and the yen and government bonds surged as concerns grew about a deep global recession.  Full Article | Full Coverage 

Goldman faces $2 billion loss: report
EU thrashes out economy plan
Credit Suisse to cut 650 jobs
Downturn hits corporate meetings
President-elect Barack Obama introduces his national security team as Secretary of State nominee Sen. Hillary Clinton and National Security Adviser nominee retired Marine General James Jones look on during a news conference in Chicago December 1, 2008.

A team of rivals 4:30pm ET

Barack Obama named former rival Hillary Clinton as secretary of state and said Robert Gates would remain defense secretary.  Full Article | Factbox 

Analysis: Defense policy under Gates
Scenarios: Homeland Security issues
A path far from Bush unilateralism
How women see Clinton appointment
Slideshow: The odd couple

Top News

the day ahead: tuesday

A row of Volvo cars await shipment outside the main factory in Gothenburg, Sweden, September 23, 2008. REUTERS/Bob Strong
Auto slump seen rolling on

Undercut by tight credit and a weak economy, November U.S. auto sales are expected to have dropped by some 30 percent from a year earlier.  Factbox 

John Kemp
Uncertainty paralyzes system
John Kemp

Even as the Fed has added liquidity and boosted bank reserves, the credit creation process has remained stalled as banks struggle to identify borrowers willing and able to repay in a wide range of future economic conditions.  Commentary 

to

Commodities

Commodity Last Pct Chg Trade Date/Time
Oil 47.39 -1.22% 02 Dec 2008 06:22 EST
Gold 769.3 -0.69% 02 Dec 2008 05:34 EST
Photo
Crisis in Credit

Follow the financial crisis using our interactive video timeline. Track the global impact on our interactive map.  Full Coverage 

Photo
The case for piracy

As far as illicit businesses with low risk and high rewards go, it doesn't get much better than piracy on the high seas. Columnist Bernd Debusmann examines why.  Commentary 

Shoppers pass a window display at the high-end luxury goods maker Gucci along 5th Avenue in New York, November 19, 2008.
Holiday Shopping

Retailers and shoppers are adjusting to the impact of the financial crisis, especially during the busy holiday season. Take a closer look.  Full Coverage 

Pictures

View Slideshow 
View Slideshow View SlideshowSlideshow  
World AIDS Day
4:48am EST 
People around the world mark World AIDS Day with vigils and a call for more awareness, education and prevention.
More Pictures...

Video

Play Video Play VideoVideo 
Clinton joins Team Obama

Dec 1 - President-elect Barack Obama announced a national security team that is led by his onetime chief Democratic rival, Hillary Clinton.  Play Video

 
U.S. officially in a recession
Bernanke keeps finding new tools
More Video...

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