Global airline losses may total $4.7 billion this year as revenues plunge below levels seen after the terrorist attacks of September 11, 2001, the International Air Transport Association said today (Tuesday).

In the currency market, the dollar edged lower against the euro. Late Monday, the euro was trading at $1.275 vs. $1.2712 on Friday. China’s state-run news agency, Xinhua, said that the government’s stimulus program will “will loosen credit conditions, cut taxes and embark on a massive infrastructure spending program in a wide-ranging effort to offset adverse global economic conditions by boosting domestic demand.”