MARKETWATCH FRONT PAGE Energy and financial stocks pace a sharp drop in U.S. equity prices, as economic reports from around the world compound anxiety about a global recession. See full story. Economic Report: Recession began a year ago, economists say The U.S. economy entered a recession in December 2007, a committee of economists at the private National Bureau of Economic Research say. See full story. The Fed: Bernanke says Fed still has arrows in quiver The Federal Reserve has lowered interest rates just about as far as they can go, but the U.S. central bank still has plenty of available firepower it could deploy to restore financial markets to normal, Fed Chairman Ben Bernanke says. See full story. Futures Movers: Oil drops over 9% as OPEC keeps output on hold Oil futures tumble more than 9%, coming under heavy selling pressure after OPEC left current output targets unchanged and in the face of weak economic data from around the world. See full story. MARKETWATCH COMMENTARY David Callaway: Dancing with the Big Three, and other reality TV nightmares The U.S. markets have entered a dangerous new phase, triggered by plunging financials, lack of economic hope, and relentless broadcasting of wealthy auto executives begging for taxpayer money like so many Olivers at the orphanage. See full story. MARKETWATCH PERSONAL FINANCE The 12 days of Christmas tech gifts that offer the best deals The good news is that consumer-electronics companies and retailers are also feeling the pinch. Many are offering terrific deals on an array of high-tech devices. What’s more, great prices can be found every day on the Web, especially at respected online retailers such as Amazon and J&R Electronics.

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