The Dow Jones Industrial Average was recently down 154.76 points, or 1.3%, at 12100.23, hurt by declines of more than 2% in each of its three banking components. The Nasdaq Composite Index was down 1.2%, or 27.26 points, at 2245.55. The Standard & Poor's 500 was off 1.6%, or 21.04 points, at 1312.66, led by its financial sector, off 2.9%.

MOSCOW -- Russia's state gas monopoly OAO Gazprom said it has ended its reductions in supplies of natural gas to Ukraine after the two countries' presidents helped reach an agreement aimed at resolving a debt and contract dispute.

"The restrictions on deliveries for Ukrainian consumers have been lifted," Gazprom said in a joint statement with the Ukrainian gas company Naftogaz.

The agreement came after telephone negotiations involving Russian President Vladimir Putin, Ukrainian President Viktor Yushchenko and the heads of Gazprom and Naftogaz. The statement also said that transit of Russian gas across Ukraine to Europe continues in full.

The statement said gas supplied to Ukraine in January and February would be paid for by Naftogaz in accordance with the arrangement that was in place as of the beginning of the year. It said talks on other aspects of the gas trade between the two countries would continue.

China Premier Proposes
Economic Adjustments

BEIJING -- Chinese Premier Wen Jiabao called for changes to make China's economy more efficient, equitable and environmentally friendly as it faces the contradictory challenges of quickening domestic inflation and a global slowdown.

Delivering China's version of the U.S. presidential State of the Union address, Mr. Wen told legislators the government must "concentrate on changing the way the economy develops and adjust the economic structure to improve the quality and efficiency of economic growth." The speech, on the first day of the annual meeting of the National People's Congress, hit Mr. Wen's signature themes of curbing waste and pollution, increasing spending on social services, and ensuring that growth boosts jobs and incomes.

 

Mark Zuckerberg, Facebook Inc.'s 23-year-old chief executive, is finding that he and his company have to grow up at Internet speed. The latest sign: He has poached a top Google Inc. executive, Sheryl Sandberg, to help expand his social-networking company.