Stocks fall...Ford vehicles probed...oil settles lower

NEW YORK (AP) Technology stocks led the way down for stocks today, giving ground after Monday's strong rally. The Dow fell nearly 232 points to 9,033. The S&P lost 30 points and the Nasdaq composite shed 73 points.

Washington (AP) Lawmakers are beginning to discuss how to overhaul the regulatory structure overseeing the U.S. financial system, promising stricter rules governing risky financial products that are seen as responsible for the current financial crisis.

House Financial Services Committee Chairman Barney Frank says it may also involve creation of a special committee to draft the regulatory reforms.

WASHINGTON (AP) The Federal Reserve has launched a new program to finance the purchases of assets from money market mutual funds as it looks for additional ways to battle the credit crisis.

JPMorgan Chase & Co. is chosen to run five special funds that will buy certificates of deposit, bank notes and commercial paper from money market mutual funds. The Fed will lend up to $540 billion to the five funds to support the effort.

WASHINGTON (AP) The government is investigating more than 1 million Ford vehicles after receiving reports of tires leaking from faulty valve stems made by a Chinese company. A Ford spokesman says the probe involves tire valves on 12 vehicles from the 2007 model year. Ford has received some complaints but no reports of crashes or injuries.

NEW YORK (AP) Oil prices headed south. Light, sweet crude for November delivery fell $3.36 to settle at $70.89 on the New York Mercantile Exchange.

(Copyright 2008 by The Associated Press. All Rights Reserved.) APNP 10-21-08 1647CDT | save this article / add to your favorites list