Stocks resume sell off as Dow falls 519 points
The Dow closes down 519 points, extending a loss of over 2,000 points in under three weeks. European debt fears, bank stress, and a global slowdown drive renewed selling after a brief Fed prompted rebound. The day ends with the S&P 500 down 4.4 percent and Nasdaq off 4.1 percent.
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Dow
New York
Wall Street
Europe
United States
France
U.S
Britain
Italy
Germany
Federal Reserve
Fed
Apple tops Exxon as most valuable company in America
The report shows Apple overtaking Exxon Mobil to become the nation’s most valuable company by market value with a $337 billion figure versus Exxon’s $331 billion. Apple share price sits around $363 while Exxon trails. The deficit discussed remains near $1.1 trillion through July, with projections to exceed last year but not 2009’s peak.
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United States
Congress
White House
Treasury Department
Apple
America
Exxon Mobil
Exxon
General Electric
Microsoft
Markets Fall as Dow Dips and Commodities Rise
Wednesday trading saw the Dow Jones Industrial Average drop 519.83 points to 10,719.94 while the Nasdaq rose 101.47 to 2,381.05 and the S&P 500 fell 51.77 to 1,120.76. Treasury yields edged higher with the 30 year at 3.54 percent. Corn held steady at 6.89, soybeans rose to 13.02, wheat advanced to 7.85 and crude oil traded at 82.89.
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Dow Industrials
S&p 500
Treasury
Chicago
Kansas City
New York
Fed keeps rates low but retirees face risk to income
The Fed plans to keep rates near zero for at least two more years, helping borrowers but threatening retirees who rely on interest income. Pension funds remain far short of obligations, as low yields widen gaps and pressure fixed income portfolios. Mortgage refinancings surge while housing stays weak, with buyers scarce and prices deterring offers.
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Federal Reserve
Milliman Inc
Fed
Federal Funds
U.S. Treasurys
Treasury
Greenwich
Conn
Tuck Bradford
Mortgage Bankers Association
Cincinnati
Jeff
Jo Ann Hawkins
Danielle DeGrazia
Bethel
Carol Clemens
Edmond
Okla
Debt panel sparks pessimism over bipartisan debt plan
Republicans and Democrats name a mixed panel to cut 1.5 trillion from the deficit over ten years. Critics doubt a majority vote amid deep divides as the panel must finish by Thanksgiving with Christmas votes looming in 2012.
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GOP
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R-Wyo
John Boehner
Ohio
Jeb Hensarling
Texas
New Panel
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Fred Upton
Michigan
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Barack Obama
Obama
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Deficit Commission
Simpson
Erskine Bowles
G. William Hoagland
Cigna Corp
Congress
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Stan Choe
Associated Press
Mark Lamkin
Lamkin Wealth Management
Stephen Steinthal
New York Stock Exchange
Richard Drew
Aia
Ky Scot Adami
Mitch McConnell
Jon Kyl
Arizona
Pat Toomey
Pennsylvania
Rob Portman
George W. Bush
Harry Reid
Patty Mur
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Cotton-O’neil Clinical
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