The Dow Jones Industrial Average dropped about 300 points in early-Monday trading after investment banker Lehman Brothers filed for bankruptcy protection.
In Canada, the S&P/TSX Commodities Index dropped 335 points, eliminating most of the gains during its three previous sessions
Other news on which the Dow drop is being blamed:
- a $6 drop in the price of crude oil, which might close under US$100 a barrel for the first time since March of this year.
- Merrill Lynch & Co. has lost its independence. It will be bought out by Bank of America in a $50 billion all-stock transaction.
To track this breaking story, please go to your preferred online or broadcast source for financial news.
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