Dow average plunges 513, worst drop since 2008 (AP)

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• Dow average plunges 513, worst drop since 2008 (AP)
• Reid: Compromise in hand to reopen FAA (AP)
• Va. Tech lifts campus alert after report of gunman (AP)
• Military money on chopping block in austere time (AP)
• Polygamist leader's Texas trial goes to jury (AP)
• Documents: NY child slaying suspect 'heard voices' (AP)
• Fox analysts say remarks about Palin were a joke (AP)
• Eagles DT Patterson has brain condition (AP)
• S&P 500 sees worst day since early 2009 (Reuters)
• Bipartisan deal reached to end FAA impasse (Reuters)
• BNY Mellon imposes fee on rapidly growing deposits (Reuters)
• Special report: How Washington took the U.S. to the brink (Reuters)
• US stocks plunge, Dow falls more than 500 points (AFP)

Dow average plunges 513, worst drop since 2008 (AP) Posted: 04 Aug 2011 01:14 PM PDT AP - The stock market is finishing its worst day since the financial crisis.

Reid: Compromise in hand to reopen FAA (AP) Posted: 04 Aug 2011 01:09 PM PDT AP - Congress has reached a bipartisan compromise to end the partial shutdown of the Federal Aviation Administration that has left 74,000 transportation and construction workers idled, Senate Majority Leader Harry Reid said Thursday.

Va. Tech lifts campus alert after report of gunman (AP) Posted: 04 Aug 2011 01:11 PM PDT AP - Virginia Tech was locked down for several hours Thursday after three children attending a summer camp said they saw a man holding what looked like a gun on the campus where a 2007 massacre left 33 people dead.

Military money on chopping block in austere time (AP) Posted: 04 Aug 2011 01:13 PM PDT AP - The Pentagon got nearly everything it asked for during a decade of two wars shadowed by the Sept. 11 terror attacks and the rise of al-Qaida. No more. It's a reality that new Defense Secretary Leon Panetta acknowledged Thursday, saying he "recognizes the Department of Defense has to do its part" to meet the public clamor for spending cuts.

Polygamist leader's Texas trial goes to jury (AP) Posted: 04 Aug 2011 01:14 PM PDT AP - The child sexual assault case against Warren Jeffs was in the hands of a Texas jury Thursday, after the polygamist leader stood mostly mute for his closing argument.

Documents: NY child slaying suspect 'heard voices' (AP) Posted: 04 Aug 2011 01:15 PM PDT AP - The man accused in the kidnapping and dismemberment killing of an 8-year-old New York City boy told detectives his victim put up a struggle and that afterward he was hearing voices telling him "to take his own life for what he did," according to court papers made public Thursday.

Fox analysts say remarks about Palin were a joke (AP) Posted: 04 Aug 2011 01:07 PM PDT AP - Two Fox News Channel analysts said Thursday they were joking when they spoke on the air about going easy on fellow Fox employee Sarah Palin.

Eagles DT Patterson has brain condition (AP) Posted: 04 Aug 2011 01:02 PM PDT AP - Eagles trainer Rick Burkholder said defensive tackle Mike Patterson has a brain condition that may require surgery. Burkholder said Thursday that Patterson is undergoing further tests. The 27-year-old Patterson was hospitalized after suffering a seizure Wednesday morning at training camp at Lehigh University.

S&P 500 sees worst day since early 2009 (Reuters) Posted: 04 Aug 2011 01:16 PM PDT Reuters - Investors fled Wall Street in the worst stock-market selloff since the depths of the Great Recession in early 2009 in what has turned into a full-fledged correction.

Bipartisan deal reached to end FAA impasse (Reuters) Posted: 04 Aug 2011 01:00 PM PDT Reuters - Congressional leaders reached a bipartisan compromise on Thursday to temporarily settle a funding dispute and allow thousands of workers at the Federal Aviation Administration to return to their jobs.

BNY Mellon imposes fee on rapidly growing deposits (Reuters) Posted: 04 Aug 2011 12:34 PM PDT Reuters - Bank of New York Mellon Corp said it is being overwhelmed with deposits from investors fleeing risky markets, and said it will begin charging for above-average deposits.

Special report: How Washington took the U.S. to the brink (Reuters) Posted: 04 Aug 2011 08:01 AM PDT Reuters - The world's largest economy was headed toward an unprecedented default, and all Washington wanted to talk about was the manner in which the president had left a room.

US stocks plunge, Dow falls more than 500 points (AFP) Posted: 04 Aug 2011 01:15 PM PDT AFP - The Dow Jones Industrial Average plunged 4.3 percent Thursday, its worst one-day drop in more than two years, as global markets melted down over fears of another world economic downturn.

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