Fed Leaves Key Lending Rate at 2%
The Federal Reserve decided that inflation concerns were more pressing that current financial instability and kept the 2.00% Federal Funds Rate unchanged.
Industry Efforts to Rescue A.I.G. Said to Falter
It isn’t clear that any solution, including one involving government money, will emerge to shore up A.I.G. The ailing insurance giant may file for bankruptcy as soon as Wednesday.
Russian Stocks Plummet
The MICEX stock index fell to its lowest in almost three years as tumbling oil prices and turmoil on Wall Street spread fear among investors.
Risk Aversion Boosts Yen and Swiss Franc
Investors continued to seek havens from the global equity sell-off on Tuesday, helping push the Japanese yen and Swiss franc higher.
