U.S. Stocks Slump on Speculation Financial Bailout Won't Prevent Recession <http://www.bloomberg.com/apps/news?pid=20601103&sid=aYrXoeKumw2M&refer=\ news> U.S. stocks tumbled, led by banks, retailers and technology companies, as oil jumped 16 percent and investors speculated the Treasury's plan to buy toxic mortgage assets will fail to prevent a recession.
Morgan Stanley to Get as Much as $8.4 Billion From Japan's Mitsubishi UFJ <http://www.bloomberg.com/apps/news?pid=20601103&sid=aibymRauoMws&refer=\ news> Morgan Stanley plans to sell as much as a 20 percent stake for $8.4 billion to Mitsubishi UFJ Financial Group Inc., Japan's largest bank, to shore up capital as it prepares to convert from a securities firm to a bank. Goldman Sachs, Morgan Stanley Become Banks, Ending an Era for Wall Street <http://www.bloomberg.com/apps/news?pid=20601103&sid=axaX5i4871U0&refer=\ news> The Wall Street that shaped the financial world for two decades ended last night, when Goldman Sachs Group Inc. and Morgan Stanley concluded there is no future in remaining investment banks now that investors have determined the model is broken. Crude Oil Soars More Than $25 on `Squeeze Play' as October Futures Expire <http://www.bloomberg.com/apps/news?pid=20601103&sid=aa2880cO2dNU&refer=\ news> Crude oil climbed more than $25 a barrel, the biggest gain ever, as traders scrambled to unwind positions on the October contract's last day of trading. The more-active November contract rose $6.62.
