Stocks plunge in opening minutes...BUsh to speak...McCain targets Obama on Ayers



NEW YORK (AP) What a ride already this morning on Wall Street.

The Dow began the day by plunging nearly 700 points in the first few minutes, but then immediately began trimming those losses. It's been a difficult day for stocks across the globe. European stock markets slumped further following yesterday's losses on Wall Street. Asian markets also tumbled.

Washington (AP) President Bush will make a statement this morning about the crisis in the credit markets that's been causing a selloff on Wall Street. Bush hopes to calm nervous Americans and to assure them the U.S. has the necessary tools to deal with the problem. A week ago, Bush signed a $700 billion bailout bill into law.

WASHINGTON (AP) John McCain has a new TV ad out attacking Barack Obama's association with former 1960s radical William Ayers.

It's his sharpest attack yet, and accuses Obama of bad judgment and blind ambition. News outlets, including the Associated Press, have reported Obama and Ayers were not close but worked together on two nonprofit organizations.

CHILLICOTHE, Ohio (AP) Barack Obama continues campaigning in Ohio today. He has two more stops on what is being called his "American Jobs Tour." Obama has been mostly talking about strengthening the economy.

CHICAGO (AP) One mortgage lender has filed a lawsuit against the Chicago sheriff who is refusing to evict tenants from their homes. Accredited Home Lenders says Tom Dart may have concerns about the orders he's charged with enforcing but he can't refuse to carry them out.

(Copyright 2008 by The Associated Press. All Rights Reserved.) APNP 10-10-08 0849CDT | save this article / add to your favorites list