Jarred by new jobless alarms, Congress raced to approve legislation Thursday to keep unemployment checks flowing through the December holidays and into the new year for a million or more laid-off Americans whose benefits are running out.

With the U.S. all but certainly in a recession and many skittish consumers hesitant to buy even a Honda Accord, it would seem the last thing anyone would need is a $400,000 Rolls-Royce Phantom.

Oil prices fell to a 3-year low below $49 a barrel Friday in Asia as plunging stock markets, driven down by more bad U.S. economic news, battered investor confidence.

Japan's central bank kept its already low interest rates on hold Friday but warned of a prolonged economic slump at home and abroad.

Most Asian and European markets rebounded Friday after sharp declines in recent days as investors scooped up battered financial and technology shares.