In Friday's other news, alleged al Quaida suspect Ali Al-Marri will be transferred to the U.S. civilian court system to stand trial after 5 years in a military brig and the Dow Jones Industrial and the Nasdaq each finished the week with a loss of at least 4 percent.
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In other news, the Justice Department confirmed an alleged al-Qaida operative, Ali al-Marri, will be transferred to civilian courts. He's been held more than five years at a military brig in South Carolina, but he'll go to Illinois to stand trial. An indictment unsealed today charged al-Marri with conspiracy and providing material support to al-Qaida.
Wall Street tumbled again today. The Dow Jones Industrial Average lost 119 points to close below 7,063, its lowest finish in 12 years. The Nasdaq fell 13 points to close at 1,377. The sell-off was driven in part by the government taking a larger stake in Citigroup. For the week, both the Dow and the Nasdaq lost at least 4 percent.
The agency that guarantees deposits ordered banks today to pay an emergency premium. The Federal Deposit Insurance Corporation said the premium would raise $27 billion. It said rising bank failures have drained the deposit insurance fund.
The recession has claimed a new casualty in the newspaper industry. Colorado's oldest newspaper, the Rocky Mountain News, published its last edition today, just two months shy of its 150th anniversary. The Pulitzer Prize-winning Denver paper lost $16 million last year.