Rolls Royce is laying off 2,000...nail biting time, eh?
Nov. 20 (Bloomberg) -- Stocks declined worldwide and U.S. index futures fell as concern deepened that banks face more writedowns and the global recession will stifle profits. The yen rallied as investors shunned higher-yielding assets.
UBS AG and ING Groep NV dropped more than 6 percent after Citigroup Inc.'s plan to buy troubled investment-fund assets fueled speculation of more bank losses. Copper slumped for a third day and oil slid toward $50 a barrel, sending commodity producers lower. Treasuries rose, pushing two-year note yields to a record low as investors sought the safety of government bonds.
The MSCI World Index lost 1.8 percent to 806.81, the lowest since April 2003, as of 8:05 a.m. in London. More than $31 trillion has been erased from the value of global equities this year as the financial-market turmoil pushes countries from Europe to the U.S. and Japan into recession.
The Federal Reserve last month predicted the U.S. economy will contract through the middle of 2009, according to a record of their meeting released yesterday...(more at Bloomberg.com)
AC_in_mich
· 1 year ago
Welll, another winner for Gerald Celente -he predicted that this would be the last Christmas "shopping frenzy" year we would have. God help us if his 90% drop in the dollar's value with $2000/oz gold prediction comes true
AC_in_Mich
MoxNix
· 1 year ago
Should be Britons' or Britain's.
bob
· 1 year ago
actually, combined debt in the US is now several times GDP (it was 80% about a decade ago)
All Comments
Nov. 20 (Bloomberg) -- Stocks declined worldwide and U.S. index futures fell as concern deepened that banks face more writedowns and the global recession will stifle profits. The yen rallied as investors shunned higher-yielding assets.
UBS AG and ING Groep NV dropped more than 6 percent after Citigroup Inc.'s plan to buy troubled investment-fund assets fueled speculation of more bank losses. Copper slumped for a third day and oil slid toward $50 a barrel, sending commodity producers lower. Treasuries rose, pushing two-year note yields to a record low as investors sought the safety of government bonds.
The MSCI World Index lost 1.8 percent to 806.81, the lowest since April 2003, as of 8:05 a.m. in London. More than $31 trillion has been erased from the value of global equities this year as the financial-market turmoil pushes countries from Europe to the U.S. and Japan into recession.
The Federal Reserve last month predicted the U.S. economy will contract through the middle of 2009, according to a record of their meeting released yesterday...(more at Bloomberg.com)
AC_in_Mich