Recession will last the year, but it will be shorter and much shallower than the Great Recession.
Strait of Hormuz will be sign of Iran army exericises, Iran official says, sending oil prices up immediately. Although 30 percent of world's seaborne oil exports is shipped through the Strait of Hormuz, analysts doubt Iran would act.
Stock market prices in Europe and much of Asia are buoyed as Merkel and Sarkozy meet in Paris to discuss closer political, economic union. But the stock market in China fall on its worsening economic outlook.
Stocks drop 1 percent or more on major European indexes because of concerns about Italian debt. Japan limits losses with yen intervention. US stocks expected to open lower.
Stocks up in Asia, Europe after Fed chairman's speech. Futures point to higher open for US stocks.
European stocks shrug off local debt woes, while traders look forward to Bernanke speech. But European stocks are expected to remain volatile.
Today is the first day that most stock exchanges have been open since ratings agency Standard & Poor's announced its US credit downgrade from a AAA rating to AA+. Here’s how world markets have responded so far:
India's huge domestic demand helped it weather the financial crisis of 2008. But since then, Indian companies have invested internationally, increasing India's vulnerability to economic downturns.