Stocks plunge on worst day since 08 crisis
The Dow fell 634 points as U S debt downgrade spurred a global selloff. By day’s end the Dow closed down 5.5 percent at 10809.85. Gold hit a record price as investors sought safer assets amid recession fears and weak 2011 growth.
MENTIONED IN THIS ARTICLE
Europe
Dow Jones
Wall Street
Standard and Poor
United States
Dow
S&p
U.S
Scott Brown
Raymond James & Associates
Goldman Sachs
Obama
Washington
Brad Sherman
D-Calif
House Financial Services Committee
Obama reassures credit faith after downgrade assertion
President Obama sought to calm a nervous nation after the U.S. credit downgrade, insisting markets will recover and that Washington can fix deficits with political will. He urged bipartisan compromise on a new $1.5 trillion deficit plan and proposed higher taxes on wealthy Americans and Medicare adjustments, despite opposition.
MENTIONED IN THIS ARTICLE
Washington
Barack Obama
United States
Obama
United States of America
Congress
Bipartisan
White House
Verizon workers strike across the East after contract talks
Thousands of Verizon landline employees from Massachusetts to Virginia picketed after contract talks failed. Union officials accused management of seeking givebacks while arguing the work remains profitable. company spokesmen countered that compensation should reflect past monopoly era values. Talks in New York with CWA and IBEW representatives yielded no progress as the contract expired at midnight Saturday.
MENTIONED IN THIS ARTICLE
New York
Verizon
Massachusetts
Virginia
Verizon Communication Inc
East
Candice Johnson
Company
Richard Young
Communications Workers of America
International Brotherhood of Electrical Workers
Satuday
S&P downgrade sparks debate on political judgment in Washington
The downgrade highlights Washington gridlock as a factor in debt rating. S&P cites Obama Congress standoff as key, while critics question the agency’s political analysis and past accuracy. Stocks fall, Treasuries rally as lawmakers reassess ratings credibility.
MENTIONED IN THIS ARTICLE
Washington
Standard and Poor
S&p
New York
John Chambers
S&P’s
U.S
24Hour baguette vending hits Paris and beyond
Jean-Louis Hecht opens 24 hour automated baguette dispensers in Paris and Hombourg Haut. The machines heat partially baked loaves and deliver steaming bread to late night and shift workers. Hecht envisions expansion across Europe and the U.S. and warns other bakers of a niche market.
MENTIONED IN THIS ARTICLE
Paris
France
Jean-Louis Hecht
Hecht
Europe
U.S
Hombourg- Haut
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Paul Wiseman
Associated Press
South Korea
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Aaa
New York Stock Exchange
Tom Baum
The
Chi
Jean-Louis
Assais Rn
WSS
Wwo
Dow Industrials
Dow Transportation
Dow Utilities
Nyse Com
S&p Mi
Wilshire
Russell
Nyse Amex Naspaa
Tofutti
Jacadars
Virnetx
AnacorPh
Nthno&g
Chenieree
Cres
DrxFnBull
ChiMarFd
Altras
LatAm
CheniereEn
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Forward
DirLatBull
panBhers
SPOR
Ishemkts
Cfcdag
NwGoldg
Oracle
Ishr2k
Virnet
Newscpa
Yahoo
Ipvix
Nihgtm NovaGidg
Micront
Prushs
San
At&t Inc
Nordsons Nasd
DitryLink NY
Nasd
PNG
ParkerHan
Citigness NY
Penney NY BO
Dineequity NY
PolyOne NY
DirFnBr Rs NY
PwShs
DrxFnBul
Prusks&p NY
Prouksp NY
Emersone NY
ProciGam NY
RPM
Nash
Sapsooetfny
FratPice If
E NY
SearsHidgs Nasdeee
FirstEngy
Sherwin NY
A Ford NY
Sirusxm
GenElec NY
Smucker
HomeDp
SprintNex
Honwllint
Engy Spdr Fuel
No NY
iShSilver NY Neste
Inds NY
Steris
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Ussteel NY
Ishr2k NY
Vale SA
Intel
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Invacare NY
VerizonCm NY
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WalMan NY
WallsFargo
LNB
NYMX
Roy Oz
Spo
QMX
New York Mercantile
CBOT
Chicago Board of Trade
CME
Chi Mercantile Sugar
NYBT
New York Board of Trade
Bala m MA
Incbua Mit
CiAmi
Eurpacgra N
Fainva m
Newperspa m
American Funds
Wamutinya i
Dodge & Cox IntiStk
A & Cox Stock
Cow
Fane Fetem
Harbor
Pimco TolRetada
PIMCO
Vanguard
Totintl
Ae Stor
Vanguard TotStina Ae
Vanguard WellinAdm
Cintitselae
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