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Central banks around the world, including the Federal Reserve, reduced rates to help relieve the global economy and stem the financial crisis, while stocks ends lower for the sixth consecutive trading session. Following are today's top videos:
Coordinated Global Rate Cut
“I think we’ve done a lot to address the fundamental problems we have. And maybe the Fed ought to stand down now and put some confidence into this, instead of responding everyday to the next crisis.”
—James Paulsen, Wells Capital Management
Paulson On Global Rate Cut
“We will continue to coordinate with other federal regulators and use these tools to implement our strategy to address the four key challenges in our financial markets today: confidence, capital, systemic risk and liquidity. Although we are facing particularly difficult circumstances, I am confident that we will work through this challenge as we have always successfully worked through every economic challenge in the history of the United States...”
—Henry Paulson, Treasury Secretary
Dollar Becoming a Safe Haven
“The worst period of the US dollar is behind us and the dollar is now in a new uptrend. The conclusion is that the US dollar is now like a safe heaven for investors internationally… Money is going to bond markets, it’s looking for a safe heaven, and I believe that’s the place to be for the next two to three months.”
—Royce Tostrams, Technical Analyst Tostrams Group
Banks, Rates & Beyond
“I think it’s very likely that we have gone into a recession in the last few weeks. It’s the result of all of the angst and panic that has been going on. It basically means that everybody pulls back. If everyone’s watching the stock market, then they are not making any transactions.”
—Sam Zell, Chairman, Equity Group Investments
Maria’s Market Message
“The latest report on jobless claims and wholesale trade could move the markets on Thursday, but stocks slid again on Wednesday—189 points lower on the Dow, despite a rare coordinated interest rate cut. Central banks around the world, including the Federal Reserve, reducing rates to help revive the global economy and stem the financial crisis…”
—Maria Bartiromo, CNBC’s Closing Bell
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Data is a real-time snapshot *Data is delayed at least 15 minutes