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Stocks rally at day’s end, erasing most of Monday’s major losses
NEW YORK (Reuters) – Stocks rallied on Tuesday in a volatile session as investors struggled to decipher the Federal Reserve’s signals on the economy after a dizzying two-week slide. The Dow Jones industrial average was up 429.69 points, or 3.97 percent, at 11,239.54, based on the latest figures. The Standard…
US stocks rebound after Monday’s rout
US stocks rebounded strongly in early trade Tuesday, surging well over one percent one day after their steepest plunge since the 2008 financial crisis. The Dow Jones Industrial Average added more than two percent in early trade before falling back slightly, while the Nasdaq’s early gain topped 2.6 percent. At 1415 GMT the…
U.S. Fed under pressure to take action in wake of market meltdown
WASHINGTON (Reuters) – The Federal Reserve gathers on Tuesday under growing pressure to take some type of action to stem a financial market meltdown linked to fears of a new U.S. recession. The trouble is, the Fed’s policy toolkit looks rather depleted, making some question the likely effectiveness of any…
Obama says America still a ‘triple-A’ country
WASHINGTON — President Barack Obama vowed Monday that America would always be a “triple-A country,” defending US credit after a historic downgrade and insisting the reeling economy was “eminently” fixable. Speaking against a backdrop of tumbling global stock markets, Obama said he would present his own solutions for mending US…
Wall Street plunges after S&P’s U.S. debt downgrade
NEW YORK (Reuters) – U.S. stocks plummeted for the second straight session, driving the S&P 500 and the Nasdaq down 6 percent on Monday in the first session since Standard & Poor’s cut the nation’s perfect AAA credit rating. The downgrade — the first in the country’s history — reflected investors’ rising fear…
Obama defends America’s credit
US President Barack Obama vowed Monday that America would always be a “triple A country,” fiercely defending US credit after a historic debt downgrade and saying the economy could be fixed with political will. Speaking against a backdrop of tumbling global stock markets, Obama said he would present his own…
Asia markets plunge amid recession fears
Asian stock markets plummeted on Friday following carnage in the US and European markets amid fears the world was heading towards another financial crisis. Already-fragile investor confidence was hammered by more weak US economic data and a warning from the head of the European Commission that the eurozone debt crisis…
US stocks plunge, Dow falls more than 500 points
The Dow Jones Industrial Average plunged 4.3 percent Thursday, its worst one-day drop in more than two years, as global markets melted down over fears of another world economic downturn. The Dow was down 512.76 points to 11,383.68; the broader S&P 500 lost 4.8 percent to 1,200.07, while the tech-heavy…
U.S. markets plunge; Dow loses 500 points
Update: Just minutes from the closing bell, the Dow was down about 500 points. US stock markets plunged Thursday, as worries over global growth grew following a rout in Europe’s markets driven by sovereign debt fears and more poor US data pointing to the economy stalling. At 1600 GMT the…
Stocks fall as debt-ceiling vote looms
NEW YORK — US stocks fell on Monday as a last-minute deal on raising the government’s debt ceiling and averting a potentially disastrous default headed for a contentious vote in Congress. The Dow Jones Industrial Average shed 10.75 points (0.09 percent) to close at 12,132.49. The broader S&P 500 dropped…
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