Wall Street plunged again lower today amid renewed fears that the financial sector’s troubles with bad credit won’t soon end and that some consumers are buckling under signs of a slowing economy.

Stocks sank today as a modest upturn in existing home sales failed to lift investors’ downcast spirits on the last day of Wall Street’s volatile and difficult year.

Wall Street extended its rally with modest gains in the major indexes today following two days of sharp advances, despite economic readings which painted a mixed picture of the economy.

Stocks fell moderately today as Wall Street anxiously awaited the Federal Reserve’s impending decision on interest rates.

BANKS and brokerage firms in New Orleans say they’re faring better than before Hurricane Katrina caused a record $80 billion (€62.5bn) of damages along America’s Gulf Coast a year ago.

US companies, which have been reluctant to part with their mountain of cash, may start spending more of it - and spur the economy in the process.

CRUDE oil reached a record in New York for a third straight day, approaching $61 a barrel.

MARTHA STEWART was convicted last night of obstructing justice and lying to the US government about a superbly-timed stock sale — a devastating verdict that probably means prison for the woman who epitomises meticulous homemaking and gracious living.

THE dollar rose to a one-week high against the euro yesterday after the Federal Reserve suggested on Tuesday it may raise interest rates sooner than investors expected.

EUROPE’S longest stock-market rally since the bull market peak in 2000 has sputtered during the past month, and an unexpected rise in US employment may not be enough to revive the advance.

MARKS & Spencer may have suffered from the Irish downturn in the first quarter of 2003, British analysts speculated yesterday.

IRISH shares, spurred by overnight gains in New York, rose yesterday to push the ISEQ up by €1.5 billion this week.

CHUBB Plc, the British security company that is in talks to be acquired, may cost more than £1 billion (€1.4bn), limiting potential suitors to private-equity firms and companies as large as Rentokil Initial Plc, analysts say.

Elan Corporation has announced that G Kelly Martin, 43, has been named president and chief executive officer of the company by unanimous vote of its board of directors.

Nine investment banks financed lucrative schemes that helped Enron, the failed US energy giant, appear to be a profit powerhouse up to its collapse, said lawyers who plan to add the banks to a shareholder lawsuit today.