WASHINGTON - FEDERAL bank regulators, seeking to address criticism about the US government's $700 billion (S$1 trillion) bailout plan, have issued new guidance to banks encouraging them to continue lending to credit worthy borrowers.

NEW YORK - US STOCKS opened sharply lower on Wednesday amid uncertainty over government efforts to stem a global financial crisis, with a profit warning from electronics retailer Best Buy zapping sentiment.

The Dow Jones Industrial Average slid 183.99 points (2.12 per cent) to 8,509.97 in opening trade and the Nasdaq dropped 26.43 points (1.67 per cent) to 1,554.47.

BRUSSELS - THE European Commission on Wednesday slapped a fine of 1.4 billion euros (S$2.71 billion) on four car glass makers for rigging the market, the biggest penalty ever imposed in a cartel case.

Europe's top antitrust watchdog accused Asahi, Pilkington, Saint-Gobain and Soliver of dividing up the European market for car glass among themselves and sharing trade secrets between 1998 and 2003.