Greece passed a budget early Thursday with deep spending cuts, but investors will probably remain leery of lending to Greece and some of its indebted European peers.
Don't underestimate the significance of China's rise. We are living through the biggest shift in wealth, power, and prestige since the Industrial Revolution catapulted Western Europe to global dominance 200 years ago.
Stock prices: World markets cautious as South Korea begins military drill.
Silvio Berlusconi has managed to hold onto his job as Italian prime minister. Protesters clashed with police in Rome after the no-confidence vote on Silvio Berlusconi.
Bond market unsettled by worries over Spain and Portugal, but Germany rejects broader rescue efforts.
Spain has slashed government spending amid a stagnant economy and 20 percent unemployment. But investors aren't yet fully convinced that Europe's fifth largest economy is out of the woods.
Fears that the debt crisis will spread to a big economy like Spain should compel Europe to come together to meet this challenge.
Federal Reserve Chairman Ben Bernanke says that the US economic recovery is 'not far' from losing momentum. If the recovery slips further, the Federal Reserve is prepared to act again.
Stock exchange jitters reverberated from Shanghai to New York because of debt problems in Europe.