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Paul Krugman: Deficit Hawks Used the Economic Crisis to their Benefit
Don't Just Be Afraid Amid Market Chaos—Be Angry
paul krugman
Aug 12, 2011 1:57 PM CDT

Don't Just Be Afraid Amid Market Chaos—Be Angry

Deficit hawks exploited this crisis and made it worse: Krugman

(Newser) - All this stock market turbulence should make you not only afraid but mad, writes Paul Krugman in the New York Times . That's because deficit hawks have worsened the mess by "hijacking" the crisis to focus on their “favorite hobbyhorse," he writes. "What the market was...

Dow Rises 100+ on Retail Sales Report

S&P 500, Nasdaq also rise

(Newser) - Markets are up, at least for now: The Dow was up more than 100 points at open, with the S&P 500 and Nasdaq following suit, up about 11 and 13 points, respectively, MarketWatch reports. An upbeat report on retail sales no doubt prodded stocks upward: July sales rose a...

European Countries Ban Short Selling

First Western ban on practice since Lehman fall

(Newser) - European markets are up today following the decision by four countries to ban short-selling of some stocks. After stumbling this morning, London’s FTSE 100, Frankfurt’s Dax, and Paris' Cac rose between 1.5% and 2.5%, the BBC reports. The last major Western short-selling ban came in the...

Buffett on Stocks: I'm Buying

The lower prices go, the more aggressive he gets

(Newser) - Amid economic uncertainty, how’s Warren Bufftet holding up? “Never been better,” he tells CNNMoney . “The lower things go, the more I buy. We are in the business of buying.” Meanwhile, he says he still sees US treasuries as triple-A, “in that there is no...

Dow Surges Back Again: Up 423

S&P 500 and Nasdaq join the rebound

(Newser) - Dizzy yet? The stock market rebounded strongly yet again, with analysts giving credit to decent jobs data, better-than expected results from tech bellwether Cisco, and decreased worries about Europe. The numbers:
  • Dow: Up 423 (3.9%) to 11,143
  • S&P 500: Up 52 points (4.6%) to 1,173
...

Apple Nails Spot as World's Most Valuable Firm

Overtaking Exxon caps amazing turnaround

(Newser) - Steve Jobs, who says Apple was 90 days from bankruptcy when he returned to the company in 1996, wakes up today as chief of the world's most valuable company. Apple, which briefly overtook Exxon in trading Tuesday , was ahead of the oil giant at the close of trading for...

Dow Plunges 520
 Dow Plunges 520 
Aug 10, 2011 3:06 PM CDT

Dow Plunges 520

Nasdaq and S&P 500 plummet, too

(Newser) - Yesterday's big market gains vanished and then some today as investors worried about Europe's debt problems and the weak US recovery, reports MarketWatch .
  • Dow: Down 520 points, or 4.6%, to 10,719
  • S&P 500: Down 52 points, or 4.4%, to 1,121
  • Nasdaq: Down 101
...

Stock Rally Stutters
 Stock Rally Stutters 
Aug 10, 2011 4:38 AM CDT

Stock Rally Stutters

Falling futures mean we're not out of the woods

(Newser) - Global stocks were up early today following an uptick on Wall Street in the wake of the Fed's pledge to keep interest rates low. But it wasn't clear if the rebound would hold. Asia rates climbed and modest hikes marked Britain's FTSE 100 index (up .2%) and...

Apple Becomes Most Valuable Company in World, Briefly

It overtakes Exxon for No. 1 spot before falling back again

(Newser) - For the first time since 2005, ExxonMobil found itself only the second-most valuable company in world: Apple briefly took the No. 1 spot today before relinquishing it. Analysts think a more permanent changing of the guard will happen soon, however. At one point today, Apple's market capitalization reached $347....

Stock Futures See-Saw After Crushing Fall
 Dow Licks Wounds, 
 Rises Above 11K 
updated
Aug 9, 2011 9:43 AM CDT

Dow Licks Wounds, Rises Above 11K

Stocks rebound at the bell, open up 100+ points

(Newser) - After yesterday's beating, the Dow opened with cautious optimism, up about 137 points to 10,947—and it has inched above the 11,000 mark since then. As of 10:40am EST, it was up 215 points to 11,025. The Nasdaq opened up 41, and the S&P...

Asian Markets in Tailspin
 World Markets Sinking 
UPDATED
Aug 9, 2011 1:21 AM CDT

World Markets Sinking

Investors 'rattled by fear,' says analyst

(Newser) - Get ready for another wild ride. Asian markets recouped some of their losses after scary declines early today, but European stocks were being buffeted a day after US markets suffered their biggest drop since 2008. By mid-morning London time, Germany's DAX was down 5.6%, France's CAC-40 had...

Battered Dow Ends Down 635
 Battered 
 Dow Ends 
 Down 635 
UPDATED
Aug 8, 2011 3:14 PM CDT

Battered Dow Ends Down 635

US' downgraded credit rocks Wall Street in punishing session

(Newser) - The Dow Jones plummeted under 11,000 today, dropping 635 points as the United States' downgraded credit rating punished the markets. The drubbing took the Dow down 5.55% to 10,810, reports MarketWatch . The Nasdaq and S&P 500 bled more, shedding 6.90% and 6.66% respectively.

Stocks Plummet on Downgrade
 Dow Dives Below 
 11K on Downgrade 
Updated
Aug 8, 2011 1:28 PM CDT

Dow Dives Below 11K on Downgrade

Dow loses 135 points at open, now down more than 500

(Newser) - Investors reacted to the S&P's US credit rating downgrade and Europe's debt woes today exactly the way you'd expect: They panicked. Stocks started low, and have sunk ever deeper throughout the day. As of 2:26pm EST, the Dow was down a whopping 600 points, taking...

Dow Rises 61 After Seesaw Day

S&P 500 and Nasdaq decline

(Newser) - This would fall under the category of "volatile" trading day: The Dow rose 61 points to close at 11,445 after a series of wild fluctuations. This morning's better-than-expected jobs report led to an early surge—the Dow rose 170 points shortly after the opening bell, but the...

Sorry, Our Economy Has Never Been on the Mend

Washington better get focused on jobs fast: Paul Krugman

(Newser) - For far too long, we’ve been preoccupied with “the wrong worries,” focusing on the deficit when we should have been working on job creation, writes Paul Krugman in the New York Times . Now we’re seeing the fallout from that misguidedness. “Those plunging interest rates and...

Bank Charges for Deposits as Investors Panic

Banking giant slaps fee on major accounts

(Newser) - So many big investors are fleeing stock market turmoil for the safety of bank accounts that money market rates have dropped below zero and large amounts of cash have become a nuisance for at least one institution. Bank of New York Mellon, which specializes in handling cash for corporations and...

Global Markets Follow Wall Street Down

Sell-off fever spreads to Asia, Europe

(Newser) - Stock markets around the world are tumbling in the wake of yesterday's Wall Street meltdown . Market indexes across Asia saw major dives, and European markets are down in early trading, AP reports. The sell-off is "just a knee-jerk reaction to what's going on," said an analyst...

How to Be Happy About Today&#39;s Stock Sell-Off
How to Be Happy About Today's Stock Sell-Off
Felix Salmon
Aug 4, 2011 6:38 PM CDT

How to Be Happy About Today's Stock Sell-Off

For one thing, your 401k contribution goes further: Felix Salmon

(Newser) - Let's see: Europe's stocks tanked, US stocks tanked , Asian stocks will no doubt tank, tomorrow's jobless report is likely to be awful, and "it’s hard to see where confidence and optimism are going to come from in the coming months," writes financial blogger Felix...

Dow Plunges 280+ Points
 Dow Plummets 513 
Aug 4, 2011 3:08 PM CDT

Dow Plummets 513

All major indexes are in negative territory for the year

(Newser) - The only good thing to say about today's stock market is that it's finally over. The Dow fell a staggering 513 points, or 4.3%, to close at 11,384. It's the worst point drop since December 2008 and the worst percentage drop since February 2009, reports...

Sinking Confidence Behind Market Collapse

Investors starting to panic that nobody has answers

(Newser) - What's behind the market meltdown? Some on-the-fly observations:
  • Ezra Klein, Washington Post : The market is "diving because of forces Washington can’t control, and in many cases, doesn’t understand very well. How many members of Congress do you think could give a coherent account of what has
...

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