The Afternoon Wrap: Wednesday

Stock market falls 6 percent—its worst losses since last Wednesday—as investors worry over weak corporate earnings. [NY Times]

FirstService completes its acquisition of GVA Williams Real Estate. [CPN]

New York No. 1 among global cities, London No. 2. Take that! [Foreign Policy]

Dutch Kills—a new saloon by Sasha Petraske (owner of the invite-only Milk & Honey)—comes to Long Island City’s frontier country. [liQcity via Curbed]

A 600-seat opera house(!?) to reopen in Williamsburg. [Curbed]

According to a report by PricewaterhouseCoopers, coastal cities like New York, L.A., and Boston will be the first to recover from the nation’s economic crisis, though not until 2010. [TRD]

Cuomo forces AIG to freeze ex-CEO Martin Sullivan’s $19 million compensation package. [Crain’s]

Street furniture company Cemusa misspells another New York street on one of its new bus shelters. [City Room]

More of the 50 most influential people in Brooklyn real estate: Nos. 21 through 30. [Brownstoner]

The East Village’s Russian Orthodox Cathedral of the Holy Virgin Protection plans to add eight residential stories on top of its 60-foot, 141-year-old frame. [SLES! via EV Grieve]

Brooklyn scammers responsible for switching costumers’ energy providers without their consent spotted today in Carroll Gardens. [Gowanus Lounge]

A series of pedestrian-friendly improvements coming to major streets in the vicinity of BAM and LIRR’s Atlantic Terminal. [StreetsBlog]

The Afternoon Wrap: Wednesday