With Congress rejecting a Wall Street bailout, markets are turning towards central banks hoping they will stop the decline.
Wall Street looked set to rally on Tuesday after having plunged the previous day, with investors still hoping Congress will find a way to approve a $700 billion bailout plan for banks which it rejected on Monday.
We talk about Main Street versus Wall Street, and I've been covering a lot of Main Street reaction to this financial crisis. But Scott Cohn was on Wall Street Monday, the actual physical location, as the market dove like never before.
Tuesday promises more treachery for investors as they navigate markets held captive by politicians and the promise of a rapidly faltering economy.
With volatility continuing to soar, the Dow and S&P are on track for their biggest point losses ever.
Investors should expect the Dow Jones Industrial Average to fall below 10,000 points, as the current credit crisis is a repeat of the 'Rich Man's Panic' of 1907, Tom Hougaard, chief market strategist from City Index, told CNBC.
It's been a rough twelve months. The Dow and S&P are looking to have their 4th straight quarter of declines, something not seen in years. Here is a preview of the quarter end stats and the winners and losers to date.
The confidence crisis is spreading to Asia and Europe as financial markets are virtually shut, experts warn.
It was bailout or bust for the markets , but now that Congress has reached agreement on the $700 billion package the focus will shift to the weak economy.
The state of the financial markets' bailout and the credit crunch are dual concerns for investors in the week ahead.
On a week with mounting anxiety over a $700 billion financial bailout plan, following regulators' decision to seize Washington Mutual in the biggest bank closure in U.S. history; the Dow, S&P and NASDAQ fell more than 2% for the week, but ended mixed on Friday.
For the week ending Friday, September 26, 2008, the major U.S. Indices tumbled for the week as uncertainty lingered over the Congressional $700B bailout package. We also witnessed a historic bank failure, unsatisfying housing data, a continued rise in jobless claims, and a record one-day gain in the price of crude. The S&P 500 and NASDAQ Composite shed more than 3% for the week. The NASDAQ had the worst weekly performance amongst the three major indices, losing 3.98%, followed by S&P 500 which lost 3.3%, marking their biggest weekly drops since the start of Sept. for the NASDAQ & since mid May for the S&P.
Year to date the Russell 2000 has outperformed its large cap counterparts, the Dow and S&P 500. Is the tide turning? This week the index, whose constituents have a median market value that is less than 5% of the median value of an S&P 500 company, is down nearly twice as much as the large cap indices.
Markets may test new lows as the US bailout plan is delayed.
Wall Street's wild ride promises to continue as Congress wrangles over details of a financial markets bailout, and investors assess the government-brokered deal for Washington Mutual.
Cash is king is no longer just a cliché, it has become a mantra for markets in times of high uncertainty.
It's never pretty on Wall Street when the action in Washington rules the markets. That's certainly been the case this week, while Congress wrestles with the merit and shape of the $700 billion financial markets rescue package, proposed by Treasury Secretary Hank Paulson
There may still be value in the markets if investors choose carefully from the stocks carnage debris.
Warren Buffett is driving the latest ambulance to show up on Wall Street, and his first aid may in fact give a boost of confidence to the market and Washington's rescue process.
The euphoria is gone, and global markets have fallen in response to Washington’s $700 billion financial sector bailout. Most of the experts are not convinced it would work, although they admit there is a silver lining.