Stocks post steep losses, falling to session lows. Treasuries are
recouping some of the decline seen yesterday, with the 10-year note up
37 ticks, sending its yield down to 3.71%. Gold prices are in rally mode, climbing 5.2% to $741.40 per barrel.
The White House said it is talking to Congress about accelerating the
$25 billion auto loan package that was already appropriated, Reuters
reports. GM (GM 3.00, +0.05) is trading with a slight gain while Ford (F 1.85, -0.5) posts a loss.