NEW YORK (AP) — Stocks have taken a tumble in early trading. Fresh worries about Europe's economic health are souring the mood on Wall Street. The Dow fell more than 150 points in the first hour of trading, while the S&P 500 and the Nasdaq were also sharply lower.
BRUSSELS (AP) — New financial reports from the European Union's statistics office show the 17 countries that use the euro have managed to slash their deficits to a little more than 4 percent of overall economic output. Despite that, their debt continues to pile up to more than 87 percent of GDP.
REYKJAVIK, Iceland (AP) — A special court has found Iceland's former prime minister guilty of one charge related to the nation's banking crisis. However, the court also cleared Geir Haarde (gayr HAHR'-duh) of four other charges and he will face no punishment. Haarde led Iceland's government from 2006 to 2009. He's the first government leader anywhere to face criminal prosecution because of the global banking crisis.
WASHINGTON (AP) — The Supreme Court has turned away an appeal from a former Merrill Lynch executive who was convicted on perjury and obstruction charges that stemmed from a bogus 1999 deal involving Enron. The justices left in place a federal appeals court ruling that upheld the conviction of James A. Brown. The charges centered on Enron Corp.'s sham 1999 sale to Merrill Lynch of three power barges moored off Nigeria's coast.
VIENNA (AP) — A top U.N. official says crime around the world would rank as one of the world's "top 20 economies." The head of the U.N. Office on Drugs and Crime told reporters in Vienna today that criminal enterprises generate trillions of dollars a year worldwide. He says global action is needed to fight the trend.Tags: