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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.

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.

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.

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?

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.

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

President Bush signed a $700 billion financial bailout package Friday, shortly after the U.S. House passed the rescue measure. The action paved the way for the government to start buying up troubled assets from financial institutions caught on the wrong side of record home foreclosures.

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."

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.

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.