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U.S. stocks sink after Fed paints grim outlook
NEW YORK — US stocks fell sharply Wednesday after the Federal Reserve’s “Beige Book” portrayed a still-weak economy in September, as big losses from tech stars Apple and Amazon pulled the Nasdaq down more than 2.0 percent. Reports of ongoing discord over the coming comprehensive rescue plan for the eurozone…
U.S. markets sink with no EU resolution in sight
NEW YORK — US markets sank Monday after a three-week rally after a meeting of G20 finance chiefs failed to boost confidence that a solution to the eurozone debt crisis is near. The Dow Jones Industrial Average was down 246.58 points (2.12 percent) to 11,397.91 in closing trade. The broader…
U.S. markets extend losses, Dow down 4%
NEW YORK — US stocks extended a brutal sell-off Thursday, plunging more than four percent in the final hours of trade, fueled by the Federal Reserve’s stark warning about the health of the US economy. The Dow Jones Industrial Average was down 478.47 points (4.30 percent) to 10,646.37 at 1800…
Recession scare sparks new plunge in U.S. stocks
NEW YORK — New worries about a second recession in the United States and Europe, prompted by an investment bank report, sent US stocks into a new sharp fall Thursday. The Dow Jones Industrial Average closed down 419.63 points (3.68 percent) to 10,990.58, following an earlier rout on Europe’s bourses.…
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…
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…
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…
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