Obama holds firm lead over McCain as battle for White House nears conclusion

The battle for the US presidency entered its final hours Monday, with polls showing Barack Obama holding a solid lead in his historic quest to become the first black US president while rival John McCain grasped for a last-minute upset.

On the last day of his 21month campaign for the White House, Obama told supporters in Jacksonville,Florida,he could win the longest, most expensive US presidential contest in history but only with their support.

"That's how we're gonna change this country – with your help," he told the crowd, amid chants of "O-bam-a, O-bam-a." "And that's why we can't afford to slow down, sit back, or let up, one minute, or one second in the next 24 hours … Not now. Not when so much is at stake."

McCain meanwhile was racing through seven states in a last campaign swing that ends Tuesday morning in a bid to persuade undecided voters that he, not his rival, was more qualified to lead the world's most powerful nation.

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United States House rejects $700-billion Wall Street bailout Bill, shaky markets plunge

In a moment of historic drama in the US Capitol and on Wall Street, the House of Representatives voted today to reject a $700 billion rescue of the financial industry. The vote against the measure was 228 to 205. Supporters vowed to try to bring the rescue package up for consideration again as soon as possible. Stock markets plunged sharply at midday as it appeared that the measure would go down to defeat.

The Dow, which had been trading down about 300 points for most of the afternoon, fell to a 600-point deficit before recovering slightly. The index was down more than 550 points as lawmakers scrambled, but failed, to round up votes to pass the package.

House leaders kept the voting period open for some 40 minutes past the allotted time, trying to convert “no” votes to “yes” votes by pointing to damage being done to the markets, but to no avail.

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