AP - President Bush said Tuesday the nation's troubled financial system is "basically sound" and urged lawmakers to quickly enact legislation to prop up mortgage giants Fannie Mae and Freddie Mac.

AFP - World equity markets and the dollar fell heavily on Tuesday on scepticism that a dramatic weekend US government rescue of two mortgage giants would contain crisis in American finance.

AP - Asian and European stock markets fell sharply Tuesday as investor confidence in the U.S. financial system eroded further despite a government-backed plan to help beleaguered mortgage financiers Fannie Mae and Freddie Mac.

AFP - US financial markets remained on tenterhooks on Tuesday as the banking sector faced a crisis of confidence even after an unprecedented government rescue of mortgage giants.

AP - President Bush said Tuesday the nation's troubled financial system is "basically sound" and urged lawmakers to quickly enact legislation to prop up mortgage giants Fannie Mae and Freddie Mac.

Reuters - Investors unloaded shares of Fannie Mae and Freddie Mac on Tuesday after a credit agency cut the mortgage finance companies' ratings amid fears that a government rescue plan may come at the expense of embattled shareholders.