NPR Audio - Business

President Bush has said the U.S. is using a "wide range of tools" to address the chaos in the financial markets. The stock market, however, has continued its downward slide. Many finance-watchers say the credit markets are to blame. Banks are simply not lending money to one another.

For the first time ever, the Dow Jones industrial index traded in a 1,000-point range on Friday. The Dow ended its day of wild swings down 128 points, to close at 8,451.19.

Standard & Poor's downgraded the credit of General Motors and Ford Motor Co. and their financing arms this week. Many fear the automakers lack enough cash to sustain their business during this downturn, and that if they falter, it could have widespread repercussions on the U.S. economy.

Central bankers and finance ministers from the Group of Seven industrialized nations are meeting with President Bush Friday and Saturday. They are looking at ways to restore order to financial markets and avert a lengthy recession.

The measure of the markets that makes policymakers most nervous is the availability of credit. Will Aston-Reese, vice president for money-market sales at Tradition Asiel Securities, says watching the credit markets over the past few weeks has been akin to watching paint dry.

The markets have had a wild ride, with the Dow Jones industrial average falling more than 700 points at one stage before closing down 128 points. More than once, the Dow fell below 8,000 points. Roben Farzad, senior writer for BusinessWeek, says fear has gotten the best of everyone.

Teachers and professors across the nation are using the financial crisis as a lesson for their students. A class on global economics in the MBA program at Thunderbird School of Global Management in Phoenix examines the downturn.

At Lake Oswego High School outside of Portland, Ore., Gerrit Koepping brings current events into the classroom every day. High school students at Koeppings' U.S. government classes are learning from the current economic crisis.

The stock prices for Ford and General Motors have taken a beating this week and there are new concerns that the companies might not survive the economic downturn. The companies have spent three years undergoing massive restructuring and cost cuts.

Rep. Jim Marshall (D-GA) voted in favor of the bailout package. He is now campaigning in his conservative home district and is doing a lot of explaining about his vote. He says his vote was initially very unpopular, but as the economy has unraveled, it has become less unpopular.