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Faced with ubiquitous signs of global economic meltdown, investors sold stocks in force on Tuesday, dragging the broad market indexes down near the lows reached last November. The Standard & Poor's 500 index, weighed down by financials, fell 4.56%, while the Dow Industrials sank 3.8%, falling to within a fraction of its November 2008 low. Among the hardest hit sectors were bank stocks, down 10%, oil service stocks, down 8.2%, and semiconductor stocks, which fell 6.7%. Gold Mining was among the rare winners Tuesday, with the industry group rising 2.5%. (See pictures of the top 10 scared traders...

Author: /time Magazine | Title: Why the Stock Market Keeps Plummeting | 2/17/2009 | See Source »

...change, conflicts are an indispensable reality in our societies. My definition of peace is an atmosphere in which harmonious change can occur. Therefore, I am stressing the need to introduce innovative global conventions to exert balanced pressure on all stakeholders in a conflict zone. This would keep disturbances within the frame of humanity, just as gravity orchestrates droplets colliding without repeatable pattern into a waterfall...

Author: By Thrishantha nanayakkara | Title: Need for New Global Conventions | 2/17/2009 | See Source »

Whichever of the Democrats wins the primary, he or she will likely face tough competition from Schwarzenegger's Republican Party, within which two billionaires and a former Silicon Valley Congressman are already sizing one another up. Former Representative Tom Campbell and state insurance commissioner - and tech billionaire - Steve Poizner have each formed an exploratory committee and are expected to enter the race...

Author: /time Magazine | Title: California's Big Race to Succeed Schwarzenegger | 2/16/2009 | See Source »

...admitted, but three days after giving birth and undergoing surgery, she died. The following month, an 82-year old woman was refused by five hospitals in her hometown, and died en route to a hospital in another city. In 2007, the percentage of cases that require immediate medical attention within total emergency transportation for the year was 11% for the general population, 1% for maternal cases, and 8% for children. "These [numbers] are not high," says James Kondo, president and vice chairman of Health Policy Institute, Japan, a Tokyo-based healthcare think-tank, "but when things go wrong in these...

Author: /time Magazine | Title: Are Japan's Emergency Rooms in Trouble? | 2/16/2009 | See Source »

...that France and others will use the downturn to undermine market and competition law. Commission President José Manuel Barroso pledged to scrutinize the French plan to make sure it worked "with the grain" of E.U. rules and maintained the integrity of the single market. "Some think that retrenching within their own group, their own region, their own country is the right response," he said. "But this carries the risk of unilateral reactions leading to a vicious downward spiral...

Author: /time Magazine | Title: Amid Crisis, Cars Start to Drive Europe Apart | 2/16/2009 | See Source »

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