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month values ▾
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|
| -0.25 | -0.30 | -0.30 | -0.30 | -0.35 | -0.45 | -0.45 | -0.40 | -0.60 | -0.29 | -0.75 | -0.27 |
Holiday retail collapse
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A massive short squeeze on Volkswagen, triggered by Porsche's acquisition of 74% of the stock, sent VW's shares soaring over 150% and briefly made it the most valuable company globally. The surge, driven by short sellers rushing to cover positions, disrupted markets and impacted the DAX, though VW later pared gains. U.S. hedge funds and institutions faced pressure, but Goldman Sachs denied significant losses despite speculation.
The U.S. government is providing $17.4 billion in emergency loans to General Motors and Chrysler through the TARP program to prevent disorderly collapse and support restructuring. The automakers must submit viability plans by March 31, 2009, with strict conditions including debt reduction, wage alignment with foreign rivals, and executive pay limits, impacting labor relations and market confidence.