Washington - US stocks were poised for a massive sell-off Monday after embattled investment bank Lehman Brothers Holdings filed for bankruptcy - one of many financial firms in turmoil amid a significant broadening of the US credit crisis.

News of the venerable Lehman Brothers' failure came hours after financial services firm Merrill Lynch & Co agreed to be sold to Bank of America Corp late Sunday night.

The blue-chip Dow Jones Industrial Average fell more than 300 points - more than 2.5 per cent - and the broader Standard & Poor's 500 Index was down more than 3 per cent Monday morning.

Paris - Caught up in the turmoil caused by the collapse of US investment bank Lehmann Brothers, the Paris Bourse lost nearly 5 per cent of its value by mid-afternoon on Monday, led downward by weak banking shares.

The big losers for the day were the banks Credit Agricole and Societe Generale, which were down 13.79 and 12.51 per cent, respectively.

For the year, Credit Agricole - France's largest retail banking group and the second largest in Europe - has lost more than 43 per cent of its value.

The shares of two other banks, Dexia and BNP Paribas, fell by 12.10 and 11.54 per cent, while insurance giant Axa lost 11.53 per cent of ts value.

Washington - US stocks were poised for a massive sell-off Monday after embattled investment bank Lehman Brothers Holdings filed for bankruptcy - one of many financial firms in turmoil amid a significant broadening of the US credit crisis.

News of the venerable Lehman Brothers' failure came hours after financial services firm Merrill Lynch & Co agreed to be sold to Bank of America Corp late Sunday night.

Paris - Caught up in the turmoil caused by the collapse of US investment bank Lehmann Brothers, the Paris Bourse lost nearly 5 per cent of its value by mid-afternoon on Monday, led downward by weak banking shares.

The big losers for the day were the banks Credit Agricole and Societe Generale, which were down 13.79 and 12.51 per cent, respectively.

For the year, Credit Agricole - France's largest retail banking group and the second largest in Europe - has lost more than 43 per cent of its value.

The shares of two other banks, Dexia and BNP Paribas, fell by 12.10 and 11.54 per cent, while insurance giant Axa lost 11.53 per cent of its value.

Baghdad - US Defence Secretary Robert Gates arrived in the Iraqi capital Baghdad on Monday on the eve of a shift in command of the US-led forces.

US General David Petraeus is spending his last day in Iraq on Monday as commander of US-led forces.

In a ceremony that will be held today, and attended by Gates, Petraeus will hand command to his former deputy Lieutenant-General Ray Odierno.

Odierno served as Petraeus right hand for 15 months until February. He will be promoted to full general on Tuesday.

Washington, September 15 : An Indian-origin mechanical engineer and his colleagues at the University of Utah have developed a new approach to slice thin wafers of the chemical element germanium, so that they can be used in the most efficient type of solar power cells.

Dinesh Rakwal, a doctoral student in mechanical engineering, believes that the new method can lower the cost of such cells by reducing the waste and breakage of the brittle semiconductor.