Even before tougher sanctions against Russia hit the books, the country faces potential hits as investors turn their backs on its financial assets.» Read More
Turmoil on Wall Street is pushing financial professionals to the therapist's couch, scaring them off power lunches and testing the mettle of small investors caught in the vortex.
That sound you hear around the nation's capital is the political class, chortling. They're amused (rather than outraged) by the spectacle of so many on Wall Street extended their hands, palms up, seeking financial help from Washington.
The size of the Fed’s expected rate cut today may help stimulate a sluggish economy. But it is unlikely to unfreeze the credit markets, especially the mortgage one.
The Federal Reserve slashed a key U.S. interest rate by three-quarters of a point, to 2.25%, but Wall Street didn't seem to care that the cut was smaller than many had expected.
Black gold and gold futures are significantly higher after yesterday's rout. Here's what the energy market seems to think will happen: The Fed will cut rates by 75 basis points (maybe even 100, a few think it could be 50). If the cut is as massive as some suspect, the dollar will weaken even further against the Euro and other currencies.
U.S. Treasury Secretary Henry Paulson said on Tuesday the U.S. economy had turned down sharply but declined to label the situation a recession.
Fed policy-makers are expected to make the biggest interest rate cut since 1982, while two major Wall Street firms provided some relief to investors with better-than-expected earnings.
As the credit crunch worsens, the Federal Reserve is becoming more imaginative in its tactics. Wall Street is now betting on a full-point cut in interest rates, to 2%, when the Fed meets Tuesday.
The flagging U.S. economy got more mixed news from its troubled housing sector on Tuesday, while evidence of inflation pressures continued to lurk in the producer pipeline.
British inflation leapt further above target to a nine-month high in February but the jump was purely due to changes in the way utility bills are calculated, official data showed on Tuesday.
Asian stocks closed mostly higher Tuesday after Monday's selloff as battered financials regained some luster ahead of a Federal Reserve meeting that is expected to yield steep U.S. rate cuts. Japan finished 1.5 percent higher, but Australia closed flat.
China is deeply concerned about the potential global economic fallout from the U.S. subprime crisis, which could make its job of balancing growth and fighting inflation more challenging, Premier Wen Jiabao said on Tuesday.
Australia's central bank was still concerned that interest rates might not be high enough to restrain inflation when it hiked rates to a 12-year high earlier this month, minutes of the policy meeting showed on Tuesday.
The Japanese government put forward on Tuesday a former top finance ministry bureaucrat as its second nominee to become central bank governor, but a senior opposition lawmaker warned the surprise choice was likely to be vetoed.
Even a multi-billion writedown may not be enough to shake investor confidence in Goldman Sachs. Read on to see what could spook traders.
Lehman Brothers appears to be in much better shape than Bear Stearns, but is it good enough to avoid a similar fate? The broker's earnings report on Tuesday should go a long way towards answering that question. What points should you focus on? Read on to find out.
Traders I talked to on the floor of the New York Mercantile Exchange today were rather somber: not because oil futures saw the biggest dollar drop in 17 years but because those who own NYMEX shares watched the stock tank about 10 percent today.
Traders trying to pick bottoms in this commodity free-fall had a tough day. NYMEX crude futures suffered their biggest one day dollar drop since 1991--falling as much as $7 this afternoon.
U.S. crude oil futures fell on Monday as profit-taking hit commodities markets amid mounting concerns about a slowing economy and continued banking and credit uncertainty.
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