PRESS DIGEST - Washington Post Business - Sept. 30
WASHINGTON, Sept 30 (Reuters) - The Washington Post included the following items on the front page of its business section on Sept. 30.
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NEW YORK - Without a federal bailout plan to prop up confidence in the U.S. financial system Monday, stocks fell sharply around the globe, oil sank, gold soared and yields on government debt skidded closer to zero as traders ran from risk and sought safe-haven investments.
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The evidence is mounting: The economy is in a steep slide. Unemployment is at levels not seen in five years. Consumer spending is flat. Many of the sectors that have been fueling the tepid economic growth of the past year are beginning to flag. Exports are softening. Agricultural and other commodity prices are slipping.
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The government probe into Fannie Mae and Freddie Mac widened as the mortgage giants disclosed they are under investigation by the Department of Justice and the Securities and Exchange Commission.
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