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Stocks are down sharply after the House of Representatives rejected a $700 billion bailout of Wall Street. At one point, the Dow Jones industrial average was down more than 700 points.

During their debate Friday night, Barack Obama and John McCain clashed on the ongoing wars in Iraq and Afghanistan and on the U.S. role in the world. A flare-up over Iran was the most contentious part of the debate. Were the candidates' statements about their foreign policy positions truthful?

Fifteen cities in Italy, most of them in the country's center and south, were under heat advisories. Czech temperatures soared to a new record high. European countries father north also sweltered.

The U.S. House has rejected a $700 billion bailout of Wall Street. The rejection is a blow for the Bush administration and for congressional negotiators who backed the deal. The Dow Jones industrial average closed down more than 770 points on the news.

John McCain and Barack Obama met in their first debate Friday night and clashed over the financial crisis, taxes, spending and the wars in Iraq and Afghanistan. The theme of the night was supposed to have been foreign policy, but the Wall Street meltdown and continuing negotiations over a federal bailout forced their way onto the agenda.

Charlotte, N.C.-based Wachovia has been bought by Citigroup. It is the latest major bank that has been sold in order to stave off collapse. The deal was orchestrated by the government's Federal Deposit Insurance Corporation.

Scott Simon talks with NPR's Juan Williams about how the candidates performed last night and how they prepped for the debate.

Stubbs gave voice to emotion — to love, to hurt, to desire, to loneliness. Songs like "I Can't Help Myself," "Reach Out, I'll Be There" and "Baby I Need Your Lovin' " made him one of Motown's most recognizable voices. He died Friday in Detroit.

Federal Reserve Chairman Ben Bernanke has told lawmakers they should be "considering" another stimulus package. He said a new stimulus plan should be "targeted" and focused on ways to "help improve access to credit by consumers, home buyers, businesses and other borrowers."

Vice presidential candidates Joseph Biden and Sarah Palin met Thursday night in St. Louis for their only debate of the presidential campaign. They clashed on various topics including tax policy, the wars in Iraq and Afghanistan and energy.