♦ Bad day ahead? Stocks fell sharply in Europe and Asia overnight and ugly corporate earnings have investors worried. [MW]
♦ Wachovia, which is being acquired by Wells Fargo, reported a third-quarter loss of $23.9 billion. [Bloomberg]
♦ Yahoo says it will lay off 10 percent of its work force. [NYT]
♦ Federal prosecutors looking into the collapse of Lehman have subpoenaed other firms to find out if their analysts were misled by Lehman execs. [WSJ]