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Economy: Stock Market, Credit Crunch #907532

ABC Evening News for Monday, Oct 06, 2008
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(Dayton: Charles Gibson) ABC News five-day bus tour through the battleground states of Ohio, Wisconsin, Iowa and Indiana where the top issue is the economy noted. Stock Market Report.

(Studio: Betsy Stark) The global market economic meltdown this Monday featured; details given about the terrifying day on the Wall Street and the foreign markets, Europe's bailout of two banking giants, Hypo and Fortis and the credit freeze as exemplified by the Wyndham hotel chain's job cuts. [TRADER, Mesirow Financial economist Diane SWONK†, UBS Financial Services director Art CASHIN†, Oxford University professor Linda YUEH†- assess the contiguous market drop.] [In Ohio, President BUSH - says the economy will be fine in the long run.] [Edward Jones strategist Alan SKRAINKA†- offers an iceberg-ship analogy of the situation.] [92-year-old Newark auto dealer Joe PFEFFER‡- says money is not available.]

(Dayton: Charles Gibson) Report introduced.

(New York: David Muir) The economic advise for worried investors in the stock market presented. [Altfest and Co. investment analyst Lewis ALTFEST†- comments on stressful phone call questions.] ["Kiplinger's Personal Finance" editor Manny SCHIFFRES†- says you have to have guts for your portfolio.] The buying actions by billionaire Warren Buffett noted.

(Dayton: Charles Gibson) The opening of Congressional hearings on the financial crisis reported; scenes shown of Lehman Brothers CEO Richard Fuld††, who was grilled about his company's collapse. The drop in oil and gasoline prices cited.

Reporter(s):
Gibson, Charles;
Stark, Betsy;
Muir, David
Duration:
00:06:20

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