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General Motors has had talks with smaller rival Chrysler LLC about a merger that would combine the No. 1 and No. 3 American automakers at a time when both are struggling to cut costs and shore up cash, according to a source briefed on the matter.

Gold, silver and platinum were pressured lower Friday, but ended higher for the week in London. London silver, gold and platinum prices climbed 4 percent, 7.7 percent, and 4.4 percent, respectively.

The Dow and S&P sank just over 18 percent, while the Nasdaq lost 15.3 percent.

EBay was once an online juggernaut and Amazon.com its weaker rival. Things have changed.

May 7, 1998: Stuttgart, Germany-based Daimler-Benz, the maker of the upscale Mercedes Benz, announces a $36 billion merger with Chrysler.

The new company, DaimlerChrysler AG, begins trading on the Frankfurt and New York stock exchanges on Nov. 17.

As the market continued its steep slide, many Americans say they are sensing losses beyond the short-term hits to their portfolios.

G.M. executives are said to have approached Ford about a possible merger in July, but Ford rejected the idea and ended the discussions last month.

Some veteran investors say that the sell-off has gone much too far and stocks are poised to rally powerfully if the downturn is less severe than feared.

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General Motors Corp. and Chrysler LLC at a glance:

The new approach, which would have the government inject capital directly into banks, is one that administration officials had publicly opposed.