Financial pain hits close to home

Rough start seen for stocks
U.S. stocks were poised for a rough start Wednesday, ahead of a barrage of reports expected to reinforce the dismal outlook for the economy.

Obama vows to 'reform' US budget
US President-elect Barack Obama names more advisers and sets out measures to tackle the ailing economy.

Growth figure points to US gloom
The US economy contracted at an annual rate of 0.5% from July to September, according to revised official data.

Economy: Biggest GDP drop in 7 years
The troubled U.S. economy posted its biggest drop in seven years, according to a government report Tuesday.

UK to suffer 'severe' recession
The OECD says that the UK will suffer a deeper recession than any other major economy in 2009.