i'm andrew streechbs. you're watching "world business today." the top stories this friday, august 19th. many people are happy it is indeed a friday because the market sell-off continues to roll around the world as fear takes hold of global investors. >>> bank of america announces plans to cut thousands of jobs. >>> and the story of a small business that's thriving despite the tough economic environment. >>> now, the stock market sell-off has made its way right around the world as andrew is saying, driven in particular by fierce of recession in the united states and spreading debt crisis in europe. markets have opened mainly lower, extending thursday's heavy losses. here is how we stand one hour into the trading day as andrew is saying, thankfully the final trading day of what has been a bloody week. the zurich s mvrnlths. >>> starting to the tune of down 3%, already down 19% so far this year. cac 40 down in excess of 3%. the heaviest losses coming from the dax. that was one of the better performers until the start of this month among this main c

i'm andrew streechbs. you're watching cnn's coverage of the battle for libya's future. >>> opposition leaders claim rebel forces now control 90% of libya. they also say think ooer planning to move some of their power base today from the eastern city of benghazi to the capital tripoli. meantime, the last vestiges of moammar gadhafi's power base appear to be crumbling. after hours of fighting, rebels finally over ran his heavily fortified compound on tuesday, carting out weapons, knocking over statues and raising their flag. there's no sign of colonel gadhafi at the compound nor anywhere else. but libya reportedly heard from its embattled leader in an audio broadcast directed to his supporters. his exact whereabouts remain unknown. residents turned out on tuesday to celebrate the rebel takeover of the gadhafi compound. the gadhafi loyalists still control libya's rixist hotel. they're preventing people from leaving it, including our matthew chance. >>> colonel gadhafi's radio speech is the second from about 1