The U.A.W. president said the union would also suspend its jobs bank and allow carmakers to delay health care payments.

The university’s endowment, the largest in the nation, has lost about 22 percent of its value as its U.S. and foreign stock portfolios have taken hits, school officials said.

G.M.’s lead outside director said the company’s board is behind the chief executive and does not consider bankruptcy an option.

Stocks moved modestly higher after two days of dramatic swings, as investors played defense ahead of this week’s major reports on the economy.

In another report, worker productivity slowed in the summer while wage pressures increased.

Wall Street was lower in early trading as investors took in a report that showed that productivity had slowed in the third quarter.

The university’s endowment, the largest in the nation, has lost about 22 percent of its value as its U.S. and foreign stock portfolios have taken hits, school officials said.

Electricité de France has offered $4.5 billion for half of Constellation Energy’s nuclear power unit, a deal that could scuttle a takeover by Warren E. Buffett.

Stocks fell Wednesday in Europe, after a mixed session in Asia, as a leading technology company issued a dire warning about the business outlook.

Many people in Michigan said in interviews that they could no longer see why the Big Three should be singled out for rescue.