U.S. stocks plunged nearly 2 percent or more, with the Dow wiping out gains for the year on escalating tensions between Greece and its creditors.» Read More
Once more, it's the noise coming from Washington Wednesday that could drive markets. Hope that the bill would be resuscitated before the end of the week is sending stocks higher.
As Wall Street tries to survive the credit crunch, business schools are planning their own rescue plans: tinkering with their curricula and preparing students for a different job landscape
Tuesday promises more treachery for investors as they navigate markets held captive by politicians and the promise of a rapidly faltering economy.
The House rejected the Wall Street bailout bill and the market screamed, selling off frantically until the Dow was left with its biggest one-day point drop ever. "This is panic and ... fear run amok," Zachary Karabell, president of River Twice Research told CNBC. "Right now we are in a classic moment of a financial meltdown," he said.
CNBC’s Steve Liesman is hearing the Federal Reserve will support "certain banks" to the bitter end.
This depositor backstop could be our only line of defense until Congress can pass a bailout bill.
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.
Citigroup and Wells Fargo were locked Sunday in a bidding war over a possible emergency takeover of Wachovia, the New York Times reported.
Lawmakers geared up to vote Monday on creating a $700 billion government fund to buy bad debt and alleviate the financial crisis while European regulators scrambled to save two struggling banks.
ABSTRACT / DEK GOES HERE
The state of the financial markets' bailout and the credit crunch are dual concerns for investors in the week ahead.
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.
A government audit obtained by CNBC blasts the Securities and Exchange Commission's handling of the investment banking crisis. In response, the SEC says it is scrapping the way it regulates big investment banks.
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.
Cramer lays out who he thinks are the biggest beneficiaries of this massive $700 billion bailout.
Traders are passing around this document which purportedly lifts the ban on short selling in Russia. Those who are adamantly opposed to a blanket ban on short selling are claiming this makes Russia more of a capitalist country than we are.
Cash is king is no longer just a cliché, it has become a mantra for markets in times of high uncertainty.
Treasury Secretary Henry Paulson has spent a good part of the last two days on Capitol Hill arguing that the government should not demand a stake in any Wall Street firms it bails out. Demanding such a stake, Mr. Paulson says, could scare away many of those firms from participating in the bailout, leaving the credit markets as hobbled as they are now, the New York Times reported.
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