Treasury begins to deploy financial rescue plan, stocks under pressure - Spokane, North Idaho News & Weather KHQ.com

Treasury begins to deploy financial rescue plan, stocks under pressure

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  • Lending rates edging lower

    Lending rates edging lower

    LONDON. - Lending rates among banks in the U.S. and Europe have edged barely lower Monday, suggesting concerns over global economic growth are keeping credit conditions tight.>>
    LONDON. - Lending rates among banks in the U.S. and Europe have edged barely lower Monday, suggesting concerns over global economic growth are keeping credit conditions tight.>>
  • Oil falls below $63

    Oil falls below $63

    VIENNA, Austria. - The negative mood gripping stocks worldwide is sending oil prices to a 17-month low. >>
    VIENNA, Austria. - The negative mood gripping stocks worldwide is sending oil prices to a 17-month low. Prices dropped below $63 a barrel this morning, despite OPEC's decision to cut production next month in order to push those prices up.>>

WASHINGTON. - A top Treasury official says the $125 billion the government is providing nine major banks will be distributed this week.

Assistant Treasury Secretary David Nason said Monday the deals with the nine banks were signed Sunday night and the government will make the stock purchases this week that are designed to bolster the banks' balance sheets so they will begin more normal lending.

The action will mark the first deployment of resources from the government's $700 billion financial rescue package passed by Congress on October 3.

Stocks closed with losses, capping a session where the key averages spent time in both negative and positive territory.

The Dow fell 203 points to 8,175. The S&P dropped nearly 28 points or more than 3 percent to 848. The Nasdaq composite lost 46 points to 1,505.

On the New York Stock Exchange, declining issues outnumbered advancers by a 4-1 margin.

Volume on the NYSE was 5.4 billion shares. Nasdaq stock market volume was 2.2 billion shares.

The U.S. government is implementing some of its bailout measures this week aimed at supporting the banking sector, including a plan to purchase stakes in banks.

The Commerce Department reported that new home sales rose 2.7 percent in September, as home prices declined.

Before the opening bell, Japan's Nikkei 225 index dropped to its lowest close in 26 years.

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  • Kids walk home due to crowded bus

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    Friday, February 23 2018 8:18 PM EST2018-02-24 01:18:23 GMT
    School bus crash in Rathdrum, IDSchool bus crash in Rathdrum, ID
    School bus crash in Rathdrum, IDSchool bus crash in Rathdrum, ID

    Spokane Valley, Wash. As a father of four, Justin Hein was not happy that his 12-year-old daughter and five other students walked over a mile from Centennial Middle School to her home last week, “Kind of Frustrated,” said Hein. He continued by saying, “I had no clue that my kid was even nominated or telling to walk home from school with slippery ice, people driving, that aren't watching where they are going,  and trying to watch a cell phone. And I have to worry

    >>

    Spokane Valley, Wash. As a father of four, Justin Hein was not happy that his 12-year-old daughter and five other students walked over a mile from Centennial Middle School to her home last week, “Kind of Frustrated,” said Hein. He continued by saying, “I had no clue that my kid was even nominated or telling to walk home from school with slippery ice, people driving, that aren't watching where they are going,  and trying to watch a cell phone. And I have to worry

    >>
  • One dead, one injured in crash on Highway 395 near Deer Park

    One dead, one injured in crash on Highway 395 near Deer Park

    Saturday, February 24 2018 1:33 AM EST2018-02-24 06:33:14 GMT

    DEER PARK, Wash. - Washington State Patrol is investigating a crash on Highway 395 near Deer Park. WSP officials said they were working to rescue two people who were trapped as a result of the crash Friday evening. Troopers said two cars were involved and there are serious injuries.  Highway 395 is blocked in both directions. Traffic is being divert southbound at Owens and northbound at Burrows.  Avoid the area if possible. 

    >>

    DEER PARK, Wash. - Washington State Patrol is investigating a crash on Highway 395 near Deer Park. WSP officials said they were working to rescue two people who were trapped as a result of the crash Friday evening. Troopers said two cars were involved and there are serious injuries.  Highway 395 is blocked in both directions. Traffic is being divert southbound at Owens and northbound at Burrows.  Avoid the area if possible. 

    >>
  • Liquor store clerks shoot armed robbery suspect, fight over gun

    Liquor store clerks shoot armed robbery suspect, fight over gun

    Saturday, February 24 2018 12:27 AM EST2018-02-24 05:27:46 GMT

    TULSA, Okla. - The owner of an Oklahoma liquor store has released graphic surveillance video showing a violent run-in with an armed robber.  KTUL reports that police responded to Forest Acres Liquor Store in Tulsa Thursday evening after the clerk called 911, saying they shot the suspect several times. The suspect took off before officers arrived, but he later showed up at a nearby hospital.  Police identified the suspect as Tyrone Lee, and 

    >>

    TULSA, Okla. - The owner of an Oklahoma liquor store has released graphic surveillance video showing a violent run-in with an armed robber.  KTUL reports that police responded to Forest Acres Liquor Store in Tulsa Thursday evening after the clerk called 911, saying they shot the suspect several times. The suspect took off before officers arrived, but he later showed up at a nearby hospital.  Police identified the suspect as Tyrone Lee, and 

    >>
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