Dec 01 Stocks Pummeled as Recession Becomes Official By Admin, PBS News Hour A group of academic economists confirmed on Monday suspicions that the troubled U.S. economy is in a recession, saying the economic downturn began in December 2007. Continue reading
Nov 20 U.S., World Stocks Tumble Amid Bleak Jobs Report By PBS News Hour U.S. stocks opened lower Thursday as investors worried that a possible failure by automakers to get a bailout would add to the economy's woes and as new data showed the number of new claims for jobless benefits was at its… Continue reading
Nov 10 AIG Aid, China Bailout Boost World Markets After G-20 Conference By Admin, PBS News Hour The bailout of embattled insurance giant American International Group, Inc. got another dramatic boost Monday with the U.S. government easing the terms of its loans to the company. Continue reading
Nov 07 U.S. Unemployment Surges to 6.5 Percent in October By Admin, PBS News Hour Fueled by an economic downturn, the U.S. economy lost 240,000 jobs in October, the Labor Department said Friday. The numbers helped push the employment rate to 6.5 percent, its highest level in 14 years. Continue reading
Oct 31 Watch Stocks Remain Volatile After Worst Month in Decades Wall Street has endured its worst month in 21 years yet its best week in 34 years. The markets continue to remain unsettled on news of consumer spending cutbacks and investors' fears. The Wall Street Journal's economics editor analyzes the… Continue watching
Oct 29 For Ninth Time in a Year, Fed Chops Key Rate Again to 1 Percent By Admin, PBS News Hour As expected, the Federal Reserve slashed a key interest rate Wednesday afternoon by half a percentage point as it seeks to revive an economy hit by a long list of maladies stemming from the most severe financial crisis in decades. Continue reading
Oct 28 Dow Jumps Nearly 900 Points Despite Report of Low Consumer Confidence By PBS News Hour Investors looking for a bargain in devalued stocks helped the Dow Jones industrials soar nearly 900 points, the second-biggest one-day point gain ever, on Tuesday. Continue reading
Oct 24 U.S., Worldwide Markets Plunge Anew on Recession Fears By PBS News Hour U.S. stocks slid Friday, with the Dow Jones Industrial Average closing down more than 300 points, as worries of a global recession pushed investors to shed stocks and rattled markets worldwide. Continue reading
Oct 09 A response as the markets close below 9,000 for the first time in five years. By Business Desk Paul Solman: This afternoon’s question comes from the steward of The Business Desk who wrote, moments ago: “I don’t know how you feel about this, but I thought maybe you could do another response to the day? The market just… Continue reading
Oct 09 Seven-day Slide: GM Drops 30 Percent as U.S. Stocks Continue to Tumble By PBS News Hour U.S stocks tumbled for a seventh straight session Thursday as investors bet recent worldwide efforts to thaw frozen credit markets would not be enough to avert a global recession. Continue reading