World Economy


  • Wall Street Turmoil Ripples Across Main Street Tuesday, 18 Mar 2008 | 3:24 PM ET

    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.

  • Fed Can't Unfreeze Credit Just by Cutting Rates Tuesday, 18 Mar 2008 | 2:24 PM ET
    Credit Crunch

    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.

  • Fed Lowers Rates 3/4 Point, Fueling Huge Stock Rally Tuesday, 18 Mar 2008 | 2:19 PM ET

    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.

  • TEXT: FOMC Statement Tuesday, 18 Mar 2008 | 2:17 PM ET
    The Federal Reserve headquarters in Washington, DC.
  • Fed Move Could Give Oil A Volatile Trading Day Tuesday, 18 Mar 2008 | 12:40 PM ET

    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.

  • Paulson: We're in A Sharp Economic Downturn Tuesday, 18 Mar 2008 | 11:11 AM ET

    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 Is Expected to Slash Interest Rates Again Tuesday, 18 Mar 2008 | 10:51 AM ET
    Federal Reserve Bank Chairman Ben Bernanke

    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.

  • Fed Keeps Altering Tactics As Credit Crisis Deepens Tuesday, 18 Mar 2008 | 10:27 AM ET
    Credit Crunch

    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.

  • Wholesale Inflation Hotter; Housing Slumps Further Tuesday, 18 Mar 2008 | 10:21 AM ET

    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.

  • UK Inflation Soars on Utility Bills Tuesday, 18 Mar 2008 | 7:08 AM ET

    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.

  • Fed Hopes Lift Asia Stocks, Japan Climbs Tuesday, 18 Mar 2008 | 5:58 AM ET

    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's Wen Is Worried About Dollar, Global Economy Tuesday, 18 Mar 2008 | 2:29 AM ET
    Chinese Premier Wen Jiabao speaks at a press conference after the closing ceremony of the National People's Congress, in Beijing's Great Hall of the People Friday March 16, 2007. (AP Photo/Greg Baker)

    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 Is Still Wary on Inflation Tuesday, 18 Mar 2008 | 12:14 AM ET

    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.

  • Japan Nominates BOJ Governor, Opposition Wary Monday, 17 Mar 2008 | 9:39 PM ET

    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.

  • Goldman: (GS) = Good Stuff? Monday, 17 Mar 2008 | 5:18 PM ET
    Goldman Sachs

    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 Earnings: Moment of Truth Monday, 17 Mar 2008 | 4:04 PM ET

    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.

  • Cash Is "Place To Be" With Oil, Commodities Monday, 17 Mar 2008 | 3:22 PM ET

    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.

  • Oil Closes Below $106, More Than 4 Percent Lower Monday, 17 Mar 2008 | 3:06 PM ET

    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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