Stocks plunged at the Monday open after a deepening financial crisis in Europe heightened worries about a global economic slowdown.

The S&P, Dow and Nasdaq were sharply lower, following a broad sell-off around the world.

The White House said the government was working to alleviate the international crisis.

Also, the Federal Reserve said it would double to $300 billion the amount it loans to financial institutions in need of short-term capital.

To examine how Wall Street got to such a sorry state, the House Committee on Oversight and Reform will begin a two-day hearing at 10 a.m. ET. On Monday, the committee will examine the causes and effects of the Lehman Brothers bankruptcy, with former Lehman CEO Richard Fuld expected to testify.

Source: http://money.cnn.com/2008/10/06/markets/stockswatch/index.htm?postversion=2008100606

********************************

Three European scientists shared the 2008 Nobel Prize in medicine on Monday for separate discoveries of viruses that cause AIDS and cervical cancer, breakthroughs that helped doctors fight the deadly diseases.

French researchers Francoise Barre-Sinoussi and Luc Montagnier were cited for their discovery of human immunodeficiency virus, or HIV; while Germany's Harald zur Hausen was honored for finding human papilloma viruses that cause cervical cancer, the second most common cancer among women.

The German medical doctor and scientist received half of the 10 million kronor (US$1.4 million) prize, while the two French researchers shared the other half.

Source: http://www.boston.com/news/world/europe/articles/2008/10/06/medicine_award_kicks_off_nobel_prize_announcements/

****************************

Despite a pledge by Governor Deval Patrick to end homelessness, the number of homeless people in the state is at a record high and likely to rise because of the mortgage crisis and continuing surge in foreclosures.

With homeless shelters filled to capacity, more than 500 families across the Commonwealth are being put up in hotels and motels

Advocates are asking the state to come up with emergency financial assistance to help the expected spike of additional homeless people make it through the winter.

Source: http://www.boston.com/news/local/articles/2008/10/06/homelessness_hits_record_high/