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U.S. Republican presidential nominee Senator John McCain (R-AZ) (R) and Democratic presidential nominee Senator Barack Obama (D-IL) smile after their debate at Belmont University in Nashville, Tennessee October 7, 2008. REUTERS/Jim Young
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Reuters

McCain, Obama trade barbs in town hall debate

AP - 1 minute ago

NASHVILLE, Tenn. - John McCain dismissively called rival Barack Obama "that one," Obama mocked McCain's "Straight Talk Express," and both left the debate stage to return to the campaign trail Wednesday.

Federal Reserve Chairman Ben Bernanke pauses during a speech to the National Association for Business Economics (NABE) about the current state of the economy in Washington, October 7, 2008. (Mitch Dumke/Reuters)

Fed orders emergency rate cut, other banks follow

AP - 5 minutes ago

WASHINGTON - The Federal Reserve, acting in coordination with other global central banking authorities, cut a key U.S. interest rate by half a percentage point Wednesday to steady a teetering economy.

A trader works on the trading floor of Daiwa Securities SMBC Co. in Tokyo, October 7, 2008. (Yuriko Nakao/Reuters)

Nikkei dives 9.4 percent, biggest 1-day fall since '87

Reuters - 2 hours, 51 minutes ago

TOKYO (Reuters) - The Nikkei average plunged 9.4 percent on Wednesday, its biggest drop since the 1987 stock market crash, as growing fears of a global recession led investors to wipe $250 billion off the value of Tokyo shares.

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