Today's Front Pages Analysis
'Dark Day' makes news all over the world
No matter where you are, chances are good that the newspaper you pick up today will have major Page One coverage of the House of Representatives’ failure to pass financial rescue legislation to help resolve the economic problems.
The Morning Call in Allentown, Pa., reports about a “Dark Day,” and The Dallas Morning News banners the dollar amount of the stock market drop because the $700 million bailout failed – “$1.1 trillion lost.”
The Press-Register in Mobile, Ala., leads with “Shock, then a drop,” and The Press-Enterprise in Riverside, Calif., reports “Derailed rescue triggers chaos.”
Many U.S. newspapers use much of their front page in creative packages, often charting the downward spiral of the Dow in red ink. The St. Petersburg Times in Florida asks in second-coming type “NOW WHAT?” The Chicago Tribune also has a question, this one about the stock market – “How low will it go?” The Boston Globe incorporates a chart, four stories and four solemn photos in a “Crashing Down” package. The Las Vegas Review-Journal and The Oregonian in Portland incorporate 777 – the stock market’s largest one-day point drop ever – into their design.
The Bangor (Maine) Daily News uses a one-word banner:“Meltdown,” while The Forum in Fargo, N.D., also uses a one-word, all-caps headline: “FAILOUT.”
But we will give today’s prize to the editor of Newsday in Long Island, N.Y., for the Page One that you have to see to appreciate, with the BIG head proclaiming “WELL, THAT DIDN’T WORK.”
The economic problems that started in the U.S. and cut deeply into the stock market have affected markets abroad.
South China Morning Post in Hong Kong leads with “Markets fall as European banks falter,” Lidove Noviny in Prague, Czech Republic, has a photo of President Bush that is anything but happy, and La Tribune in Paris says, “The banks crack.”
U.S. Treasury Secretary Henry Paulson is the Page One poster boy for Nepszabadsag in Budapest, Hungary, while La Vanguardia in Barcelona, Spain, says it in one big English word – “Crash!” In London, The Guardian’s banner reports “Panic grips the world’s markets,” and Clarin in Buenos Aires, Argentina, tells its readers about the “worldwide crisis.”
The Times in Johannesburg , South Africa, says it all with a photo of a troubled trader labeled “Nightmare on Wall Street.”