MSM: Stocks Are Hurt by Latest Fear: Declining Prices

After gyrating wildly for weeks, the stock market lurched lower on Wednesday, falling to its lowest point in nearly six years, as concern spread that the economy might be facing a chronic and debilitating decline in prices.

MSM: Weekly jobless claims surge to 16-year high

WASHINGTON (Reuters) – The number of U.S. workers filing new claims for jobless benefits surged last week to their highest level in 16 years, Labor Department data showed on Thursday, as a harsh economic environment forces employers to cut back on hiring.

MSM: Consumer prices drop record 1 percent in October

WASHINGTON (AP) — Consumer prices plunged by the largest amount in the past 61 years in October as gasoline pump prices dropped by a record amount.

MSM: U.S. Markets Fall Sharply in Late Trading

Stocks plummeted in the final hour of trading today with the prospects of a bailout of the U.S. automobile industry dimming. Crude oil prices fell lower than they had been in more than three years.

MSM: Gloom grips markets as global downturn spreads

ISINGAPORE (Reuters) – China’s retail sales data on Wednesday pointed to slowing consumption and the World Bank said more countries are seeking its help, as evidence mounted that the rich-world downturn is spreading through emerging economies.