Stocks Close Below 7000 to a Twelve Year Low

Stocks crashed through a psychological barrier on Monday, falling below 7000 to close down 4.24% for the day, at 6763 — the first market close under 7000 since May 1997. The broader S&P 500 was down sharply as well, falling 4.66% to finish at 700.82. The market opened on a sharp down note after absorbing a weekend of anxiety over AIG, the black hole of an insurance company that is swallowing another $30 billion of government assistance with no assurance that it won’t need more.

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Japan’s Double Oscar Victory

It’s not quite Slumdog’s tale of rags to riches — more like shining maggots to Oscar gold. The path that led Japan to take its first Oscar in Best Foreign Language film at this week’s Academy Awards started with the film’s lead actor, Masahiro Motoki, contacting author Shinmon Aoki to quote a passage of his novel Coffinman: The Journal of a Buddhist Mortician in the actor’s own travel diary. “Maggots are life, too,” the passage, in the voice of the novel’s protagonist, reads

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Down day for global markets

Major markets across the world were sliding Friday with low confidence leading to near-record lows in the United States. European stocks were taking a beating as investors become increasingly anxious over the state of the global economy. Mining and banking shares fell sharply with mining giant Anglo-American leading the losses.

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5 dead in Mexico border town violence

Five drug-trafficking suspects were killed and seven federal police officers were wounded Tuesday in clashes in the Mexican border town of Reynosa, police said. She’s expected to huddle with Foreign Minister Hassan Wirayuda Wednesday evening before meeting with President Bambang Yudhoyono the following morning. Clinton will “discuss the close and growing partnership with Indonesia and perspectives on common interests in Southeast Asia,” according to the State Department Web site

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