NEW YORK (Reuters) - Stocks dived more than 3 percent on Thursday, extending losses for a fourth day, as a bleak outlook from the Federal Reserve and weak data from China heightened fears of a global recession.
Originally from Reuters: Business News
NEW YORK (Reuters) - Stocks headed for their biggest drop in more than a month on Thursday as an unsettling outlook from the Federal Reserve and weak data from China stoked global recession fears.
Originally from Reuters: Business News
NEW YORK (Reuters) - Stocks fell further on Thursday, with the Dow industrials briefly down 4 percent, as a bleak outlook from the Federal Reserve and weak data from China heightened fears of a global recession.
Originally from Reuters: Business News
NEW YORK (Reuters) - World stocks and commodities tumbled on Thursday as weak data from China crystallized investor fears of a global recession one day after a grim economic outlook from the U.S. Federal Reserve.
Originally from Reuters: Business News
NEW YORK (Reuters) - World stocks and commodities tumbled on Thursday as weak data from China crystallized investor fears about a global recession one day after a grim economic outlook from the U.S. Federal Reserve.
Originally from Reuters: Business News
NEW YORK (Reuters) - Stocks tumbled on Thursday, extending losses for a fourth straight session, as the Federal Reserve's weak outlook for the U.S. economy and disappointing data from China heightened fears about a global recession.
Originally from Reuters: Business News
NEW YORK (Reuters) - Stocks tumbled on Thursday, extending losses for a fourth straight session, as the Federal Reserve's weak outlook for the U.S. economy and disappointing data China heightened fears about a global recession.
Originally from Reuters: Business News
From the Associated Press:
The U.S. Federal Reserve’s tacit acknowledgment that America’s economic slowdown is likely to persist for quite a while sent global stock markets skidding Thursday as investors brushed off the central bank’s efforts to spur growth and focused instead on its gloomy assessment.
Oil tumbled too but the dollar held its own against the euro, which has been weighed down in recent weeks over concerns that Greece might go bankrupt. Hong Kong’s Hang Seng led the retreat lower earlier during the Asian session with a near 5 percent dive.
The losses began Wednesday afternoon in the U.S. after the Fed announced a highly anticipated program to trade in $400 billion worth of short-term bonds for the same amount of longer-term bonds. The goal is to ensure low borrowing rates for a long period, thereby helping to stimulate the housing market and other economic activity.
The program—known as Operation Twist—was bigger than expected, but that seemed to work against the Fed’s purposes: Investors took it as a signal that the central bank was growing more concerned about the economy. In its statement, the Fed noted “significant downside risks to the economic outlook, including strains in global financial markets.”
“Confidence was already shaky, at best, and the Fed’s words only heightened worries about the outlook,” said Benjamin Reitzes, an analyst at BMO Capital Markets.
In mid-afternoon trading in Europe, France’s CAC-40 was down a hefty 5.4 percent at 5,186 while Germany’s DAX slid 4.6 percent to 5,185. The FTSE index of Britain’s leading shares was down 4.9 percent at 5,027.
Wall Street was also set for big losses at the open soon—Dow futures were 2.3 percent lower at 10,752 while the broader Standard & Poor’s 500 index futures fell 2.6 percent to 1,126.
Read the whole thing here.
Originally from Big Government
NEW YORK (Reuters) - Major stock indexes fell more than 3 percent on Thursday morning as a grim outlook from the Federal Reserve and downbeat data in Europe and China heightened fears about a global recession.
Originally from Reuters: Business News
Economists see a one in three chance the U.S. will slip into recession over the next twelve months and doubt any steps the Federal Reserve might take at its meeting next week can change that.
Originally from WSJ.com: Economy
Articles and Discussions on The Federal Reserve
