Hosted by seasoned financial reporter Matt Mller, 'Bloomberg Rewind' condenses all of the day's financial news and expert interviews into something fun and digestible every night.
Stocks fell sharply on a variety of factors – from a pessimistic Federal Reserve to reports that Europe might be headed for a recession. But falling stocks don't guarantee a recession is coming.
Global markets reflect worry about rising interest rates for eurozone's weakest nations and possibility of a US recession. Among global markets to tumble most: Germany, down 5.3 percent and France, down 4.7 percent.
The Dow Jones Industrial Average shed 419.63 points to close at 10,990.58. News from Europe and unfavorable economic reports in the US appear to be factors.
The markets are counting on Washington to raise national debt ceiling by Aug. 2, but that's not all. Wall Street also expects a deal that cuts the size of US budget deficit. How much is it looking for?
Because of concerns about Greece, the US stock market has fallen about 7 percent, dropping for six weeks. Although it broke the losing streak last week, there is still uncertainty among investors.