Portal:Current events/2008 January 22

Current events of January 22, 2008 (2008-01-22) (Tuesday)

January 2008 stock market downturn: After further losses in international markets, the United States Federal Reserve System cuts its primary interest rate by 75 basis points to 3.5%, the largest move in the interest rate since 1982. The Dow Jones Industrial Average recovers after initial losses of almost 500 points to close at 11,971.19, down only 1.06%. (AP via Yahoo! Finance) Bird flu cases in poultry spread in India, as the H5N1 virus infects seven districts in the state of West Bengal. (Reuters via Yahoo! News) A study released by two non-profit journalism watchdogs concludes that the Bush administration released "an orchestrated campaign" of 935 erroneous public statements about Iraqi weapons of mass destruction and ties to al Qaeda in the months leading up to the U.S. invasion of Iraq. (AP) U.S. presidential election, 2008: Former Tennessee Senator Fred Thompson withdraws his candidacy. (CNN) The nominees of the 80th Academy Awards are announced. (BBC News) Actor Heath Ledger of Australia dies in New York City of a medication overdose at age 28. (CNN)