The Dow suffered its worst day since December 2008, when the US was sliding into recession. The flight to bonds was so extreme that stock market investors were paying the US to hold their money.
Stocks tanked on Thursday, with the Dow losing 513 points, the Nasdaq falling 137 points, and the S&P closing 60 points lower. Twenty stocks fell for every one that rose.
Record-low interest rates on mortgages are one outcome of debt-ceiling deal. But they are just one piece of recovery for the housing market, which is beset by falling prices and high jobless rates.
The stock market is tanking. At midday Aug. 4, the Dow had fallen 300 points. The bond market is also beginning to growl like a bear. Investors are buying long-dated bonds while eschewing shorter-term securities to protect their assets, a clear indication that they feel the economy is likely to weaken further. High-profile economists are also turning gloomy. Former Treasury Secretary Lawrence Summers put the chances of another recession at 1-in-3; Harvard economist Martin Feldstein put it at 1-in-2. What's behind all the pessimism? Here are four big factors that are weighing on stocks and could determine the course of the global economy in the coming months:
MasterCard debit and credit card spending was 12 percent higher in July than it was in the same month last year. About 2 percent of the increase in MasterCard spending came from buying gas.
Cargill recall involves 36 million pounds of ground turkey. Here's how to tell if the Cargill recall affects you.
Mortgage rates reached a national average of 4.45 percent for a fixed, 30-year loan. But the near-record lows in mortgage rates are not boosting home sales.
Airbnb apologizes, acknowledging they were insensitive after a member was robbed by a guest Airbnb sent her.
After sliding for 8 days, the Dow's meager 30-point bump on Wednesday leaves investors 'very nervous,' say analysts. But the experts aren't sweating – yet.
The Dow closed 30 points up, the S&P 500 gained 6 points, and the Nasdaq finished the day 24 points higher, after a day of ups and downs
Unfinished roads around the country suggest that perhaps the private sector is better suited to complete projects
Gold prices surged to a record $1,657 per ounce Tuesday, while oil slid lower. A commodities analyst points to how investors can take advantage of oil, gold prices.
The political deal to raise the debt ceiling averted a fiscal crisis, but a big question remains: Will the cuts in spending help or harm the economic recovery? So far the markets are unimpressed.
Four stocks fell on Tuesday for each one that rose, with the Dow closing 266 points down, the Nasdaq falling 75 points, and the S&P 500 losing 33 points