PARIS — Standard and Poor's downgraded Egypt's rating on Tuesday to BB-, citing weak prospects for public finances and rising risks to macroeconomic stability during the nation's political transition.
European equities edged higher on Friday as the G20 attempted to calm markets after the recent rout, but sentiment was plagued by global economic woes and the eurozone debt crisis centred on Greece.
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.
WASHINGTON — The threat of a new recession is rising in the United States, economists say, as they slash their growth forecasts for the second half of the year.
The Federal Reserve pledged Tuesday to hold interest rates near zero for two more years and said it was mulling the tools it has to boost a slowing economy.
