October 2, 2008 7:20 PM

Credit crisis deepens as Congress mulls bailout

Stocks fell sharply Thursday, sparked by rising recognition that a freeze is hardening in the vital credit markets that fund daily business operations. September was the worst month on record for corporate credit, the Federal Reserve said, with the amount of credit corporations got to fund their day-to-day operations falling by $153.5 billion, almost $95 billion of that in the last week.

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