The reality that the nation is indeed in recession and that the downturn may well be prolonged sent Wall Street plunging Monday, hurtling the Dow Jones industrials down nearly 700 points and wiping out more than half of last week's big gains. ...more

December 2, 2008

The economy took a tumble in the summer that was worse than first thought as American consumers throttled back their spending by the most in 28 years, further proof the country is almost certainly in the throes of a painful recession. ...more

November 26, 2008

The economy shrank more than expected in the third quarter and home prices fell to levels not seen since early 2004 as the government announced new plans to provide $800 billion to boost consumer spending and home buying. ...more

November 25, 2008

A swarm of dire economic reports on Wednesday pushed the Dow Jones industrials to a five-year low below 8,000 points. What happened? Consumer prices plunged by the largest amount in 61 years, housing starts fell to the lowest level on record and the Federal Reserve sharply lowered its projections for economic activity this year and next. ...more

November 20, 2008

A swarm of dire economic reports on Wednesday pushed the Dow Jones industrials to a five-year low below 8,000 points. What happened? Consumer prices plunged by the largest amount in 61 years, housing starts fell to the lowest level on record and the Federal Reserve sharply lowered its projections for economic activity this year and next. ...more

November 20, 2008

Millions of Americans live in houses that are worth less than they borrowed to buy them. ...more

November 8, 2008

Factory orders dropped by more than three times as much as analysts expected in September as the U.S. manufacturing sector continues to suffer from the economic downturn. ...more

November 5, 2008

Economy Jolts Into Decline; Bad Recession Seen WASHINGTON (AP) - The government reported Thursday that the economy shrank in the summer, sending the strongest signal yet that a recession may have already begun. ...more

November 2, 2008

Sales of new homes recorded an unexpected increase in September as median home prices dropped to the lowest level in four years, the Commerce Department reported Monday. ...more

October 28, 2008

Behind every great man or woman in Washington there is a great painting. As the Bush presidency draws to a close, portrait artists can expect a surge in business from Cabinet secretaries and other elite political appointees who want to preserve their legacies - and their images - for posterity. ...more

October 22, 2008