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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    KOOTENAI COUNTY, Idaho - Panhandle Health District (PHD) and the Idaho Department of Environmental Quality (DEQ) have issued a health advisory for Fernan Lake. PHD is urging the public to use caution when recreating in or near the water. Water quality monitoring confirmed the presence of cyanobacteria, commonly known as blue-green algae. Blue-green algal blooms have the potential to produce dangerous toxins in areas of the lake. 

    >>

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  • Cooling hot spots and strengthening containment lines top priority on Upriver/Beacon fire today

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    SPOKANE VALLEY, Wash. - Firefighters on the front lines of the Upriver Beacon fire are making progress on the 115-acre fire that started Tuesday evening.  Megan Hill, Public Information Officer for the fire, tells KHQ the fire is 20 percent contained as of Wednesday evening.

    >>

    SPOKANE VALLEY, Wash. - Firefighters on the front lines of the Upriver Beacon fire are making progress on the 115-acre fire that started Tuesday evening.  Megan Hill, Public Information Officer for the fire, tells KHQ the fire is 20 percent contained as of Wednesday evening.

    >>
  • Illinois man stabs himself after jury's guilty verdict

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    Thursday, July 19 2018 1:21 AM EDT2018-07-19 05:21:16 GMT

    BLOOMINGTON, Ill. (AP) - Authorities say a central Illinois man stabbed himself in a courtroom shortly after a jury found him guilty in a sexual assault case. The Pantagraph reports 78-year-old Johnny Icard was sitting alone Wednesday at a defense table in Bloomington where he had represented himself at trial. When the judge said he was revoking Icard's bond, the Bloomington man said he had family affairs to attend to and wasn't expecting the verdict.   

    >>

    BLOOMINGTON, Ill. (AP) - Authorities say a central Illinois man stabbed himself in a courtroom shortly after a jury found him guilty in a sexual assault case. The Pantagraph reports 78-year-old Johnny Icard was sitting alone Wednesday at a defense table in Bloomington where he had represented himself at trial. When the judge said he was revoking Icard's bond, the Bloomington man said he had family affairs to attend to and wasn't expecting the verdict.   

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