A Chronology of Today's Events

by Chris Sturr | October 24, 2008

US shares seem to be settling down at with losses at a level below five percent. But today has still been a very ominous day. Reuters provided the following timetable of various goings on initiated largely in repsonse to market falls from the opening of trading in New York at 9.30am EST to about half an hour ago:

12.20 ET
Bank of Canada injection through special purchase and resale agreements now totals C$1.285 bln – Reuters
12:08 ET
Venezuelan oil basket falls $6.91 to $61.09 per barrel: energy ministry – Reuters
12:03 ET
U.S. Treasury polling dealers on impact of recent govt interventions on credit markets, treasuries – Reuters
11:52 ET
U.S. Treasury exploring ways to aid insurance companies under financial rescue law: sources – Reuters
11:46 ET
U.S. govt to shortly announce a list of about 20 next banks to receive capital injections: source – Reuters
11:33 ET
Britain’s FTSE 100 falls 5.6 pct, Germany’s DAX falls 5.4 pct and France’s CAC 40 falls 3.9 pct – Reuters
11:16 ET
Spain’s Popular says mergers will not be forced by need to survive crisis, but opportunistic – Reuters
11:14 ET
Head of IMF Iceland mission says urgent challenge is for govt to stabilize Icelandic crown – Reuters
11:07 ET
Bank of Canada injects C$830 mln into market through special purchase and resale agreements – Reuters
10:52 ET
Iceland PM says if central bank needs to change monetary policy, it would be done after IMF deal – Reuters
10:51 ET
IMF liquidity plan still under discussion, not yet finalized, official says – Reuters
10:49 ET
Proposed emerging nation liquidity fund would lend up to 5 times of a country’s IMF quota: Official – Reuters
10:47 ET
Iceland PM says inflation will go down rapidly over next 12 months – Reuters
10:41 ET
U.S. PGBC has ‘sufficient funds’ to pay obligations for ‘number of years’: director – Reuters
10:32 ET
Iceland PM says cabinet has agreed to request formal negotiations with IMF for $2 bln – Reuters
10:29 ET
Morgan Stanley says key risks for Boeing shares remain continued cyclical concerns, machinist strike, ability to finance aircraft, concerns over credit crisis fallout, erratic fuel prices, delays in 787 program – Reuters
10:25 ET
Chrysler to cut 25 percent of white collar jobs in November – Wall Street Journal
10:22 ET
PNC says was competitive bidding for National City, declines to comment on whether deal forced by government – Reuters
10:19 ET
PNC CEO says $19.9 bln of losses on National City portfolio will come in as writedowns at time of close of acquisition, but also as provisions over time – Reuters
10:11 ET
PNC Financial Services Group Inc CEO says planning to record $19.9 bln of writedowns on National City Corp loans – Reuters
10:08 ET
U.S. treasuries hit session lows as stocks pare losses, curb safe-haven bids – Reuters
10:07 ET
‘You look at these markets, whether it is agricultural or industrial commodities– we are not tradig on fundamentals, we are trading on money flow.’: Bill O’Neill, Logic Advisors – Reuters
10:01 ET
‘As trading gets underday and we’re seeing the Dow extend its losses, so I would probably bet on a further decline in dollar/yen probably towards the lower end of it’s ranges’: Omer Esiner, Ruesch Int’l
09:58 ET
‘You have the hedge fund audience preparing for redemption’: Keith Wirtz, Fifth Third Asset Management
09:49 ET
White House says markets trying to digest lots of new information, will take time to settle – Reuters
09:43 ET
Iceland to receive some aid from Nordic countries as part of $6 bln deal, says official – Reuters
09:41 ET
Iceland to get $1 bln from IMF in total $6 bln aid package, says official with knowledge of Iceland-IMF discussions – Reuters
09:38 ET
S&P 500 down 23.52 points, or 2.59 percent, at 884.59 after market openS&P 500 down 23.52 points, or 2.59 percent, at 884.59 after market open – Reuters
09:35 ET
U.S. treasuries pare gains slightly after stock market opens sharply lower – Reuters
09:34 ET
U.S. dollar trims losses vs yen despite lower open for U.S. stocks – Reuters

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