Morning papers on Wednesday lead with the crash of the international money markets and what it means for New Zealanders.
Under a banner headline "World holds its breath as the US tries for a new plan", The New Zealand Herald looks at whether the US Congress could pass a revised version of its $US700 billion bailout bill, which failed on Monday.
In an opinion piece, the paper's economics editor says it's vital Congress has another attempt - and gets it right this time.
The Dominion Post headline says "Markets take fright" and warns New Zealand will feel the pain of the US bailout collapse.
The Press looks at the market meltdown, but focuses on how tax relief is being promised by both main parties, with Labour's tax cuts taking effect from Wednesday, 1 October.
The Otago Daily Times says billions have been lost. However, a feature story says restructuring and a drop in the dollar has been a bonanza for documentary makers Natural History New Zealand.
Other news
The Herald carries a Government pledge to look at power price rises, which could eat into tax cuts.
The Dominion Post also looks at the stabbing of a liquor store owner in Ota on Tuesday and a prediction from the National Institute of Water and Atmospheric Research that hotter-than-normal temperatures are expected through to December.
The Press looks at the disappearance of Trisha Lowry, 28, of Christchurch who was last seen six days ago, with pictures of her grieving mother.
An education story says high decile schools are asking for more help to cope with unruly students.
The ODT looks at the likelihood of two Dunedin investigators getting their licences renewed after all 16 objectors withdrew from a private hearing.
Otago rugby captain Craig Newby, who plays his last match on Saturday, says the game has gone "too professional".
