CNBC's John Harwood recaps President Obama's news conference on the state of the U.S. economy, the conflict in the Middle East and CIA spying allegations.» Read More
Market expectations for future growth shifting rapidly towards uncertainty over global debt servicing.
Investors woke up Monday to a world in which America is seen as a greater credit risk than anytime in recent history, and they didn't like what they saw. The conversation around why we were downgraded can get as wonky as we want, but let’s not get caught up in the weeds. We are where we are because the problem is simple: Our country spends far more than it takes in—trillions more.
"I think US investors got a little more confident about the future, or perhaps a little less pessimistic about where we are going ,and perhaps there is some expectation that the Fed is going to come in and provide the markets with a bit of a lift," Peter Dixon, senior economist at Commerzbank Securities told CNBC.
Central London's police cells are full to the brim as more than 200 people were arrested on a third night of disorder in the U.K.'s capital. Some 16,000 police officers will hit the city's streets Tuesday night, as the government tries to stem the rising tide of violence.
The Swiss franc and yen are flying high as investors bail out of riskier currencies — it's time for your Tuesday FX Fix.
Former IMF chief Dominique Strauss-Kahn sexually assaulted a housekeeper in a "violent and sadistic attack" in his hotel suite in Manhattan in May, a civil lawsuit filed on Monday alleges.
"We are invested pretty heavily in a lot of large dividend paying stocks from around the globe, things that pay in the 6, 7 and 8 percent range, which is a great place to be right now. I'm not sure that I would want to be jumping into treasuries at this point," Randy Warren, chief investment officer at Warren Financial Services, told CNBC.
"The debacle in Congress in terms of coming to a deal really highlighted the US government's inadequacy in dealing with the deficit, perhaps a little bit earlier than the government wanted, certainly in terms of the election cycle," Sir Martin Sorrell, chief executive at WPP told CNBC
August is famously the month when most of Europe hits the beach. Markets are quiet, parliaments are closed, and very little happens.
Following huge losses for the Dow on Monday and further selling in Asia overnight, the markets are watching what the Fed and Ben Bernanke will do at their July Meeting today. Speculation is mounting that the Fed will attempt to restore calm but one fund manager thinks that policy action is unnecessary.
Matthew Grossman, Chief Equity Market Strategist at Adam Mesh Trading Group and Bill Smead, CEO, CIO and Portfolio Manager of the Smead Value Fund at Smead Capital Management, talk about the U.S. market plunge.
Standard & Poor's president defended his company's downgrade of the U.S. triple-A credit rating, saying S&P had no political agenda and was not overcompensating for missing the subprime mortgage mess that precipitated the current economic situation, the president said.
During a period like this, with stocks plunging almost on a daily basis, it’s clear that fear and shock are ruling the roost. But fear can be overdone. As someone who has been around awhile and has seen many sell-offs, let me offer some advice: Do not panic. Market corrections come and go. They are not the end of the world. Most times they are actually healthy.
CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.
Ben cut interest rates to zero, devised a zillion bowls of "alphabet soup" rescue programs as the Wall Street Journal put it, and bought every bond put out for bid and ballooned the Fed's balance sheet by trillions. Maybe it saved us from disaster, but we haven't seen the growth expected.
Now that Standard & Poor's has done the unthinkable, you need to know who might take the next ratings hit. Here's the list, and how to trade it.
Why isn’t the price of U.S. Treasurys falling after the S&P downgrade; why are equities under pressure; and why is gold surging? Developments in Treasurys appear, at first sight, the most puzzling.
I hate to say it, but Nancy was right! I try to be apolitical. I think I succeed most of the time. Trashing both parties more or less equally allows me to stay balanced. So in that continuing effort to stay bland and uninteresting, I have to give mention to Nancy Pelosi who said a few weeks ago it might take a decline of hundreds of points in the market to get the Republicans attention.
President Obama speaks out on the downgrade of U.S. debt, saying our problems do not stem from a lack of confidence in our credit, but rather our challenge is to control our deficits over the long term.
This financial situation is no joke, but when times get tough, Americans cope by cracking wise.