Reuters - Stocks fell sharply on Friday with the
Dow closing below 12,000 for the first time since mid-March as
rising oil prices and warnings of more mortgage-related
write-downs at banks reignited investor fears of worse to come.
AFP - Whipsawed by fresh worries on the financial sector, Wall Street enters the summer season with investors in a sour mood ahead of a meeting of increasingly hawkish Federal Reserve policymakers.
AP - Stocks tumbled Friday amid escalating worries about the financial and automotive sectors and rebounding oil prices. The major indexes fell by more than 1 1/2 percent, and the Dow Jones industrial average ended at under 12,000 for the first time since mid-March. A downgrade of automakers helped draw sellers into the stock market. -- read full article
AFP - US stocks took a beating Friday as renewed worries about the auto sector accelerated a decline in a market already fretting over the troubled financial sector and rising oil prices.
Reuters - The Toronto Stock Exchange's main index
fell more than 200 points on Friday as financial issues were
hurt by inflation fears and worries over more U.S.
mortgage-related problems, while consumer stocks also fell.
AP - Stocks capped a difficult week with steep losses Friday amid escalating worries about the financial and automotive sectors and a rebound in oil prices. The major indexes fell by more than 1 1/2 percent on the day, and the Dow Jones industrial average gave up more than 200 points to end at its lowest level in three months.
Reuters - Stocks fell sharply on Friday with the
Dow closing below 12,000 for the first time since mid-March as
rising oil prices and warnings of more mortgage-related
write-downs at banks reignited investor fears of worse to come.
Investor's Business Daily - For years, Walter Schubert presented a consistent image of himself on the trading floor of the New York Stock Exchange -- cool and tough. Some dubbed the floor of the NYSE "the club," as if it were a sports team or a combat unit. -- read full article
AP - Japanese stocks fell Friday on renewed worries over the health of the U.S. financial sector and its impact on the economy at home. -- read full article
BusinessWeek Online - They're the bespoke suits of the investment world -- financial products that can be designed to meet almost any investing goal. They don't look so fancy at first glance. They're bonds, basically, backed by a bank. It's the financial accoutrements layered on that basic frame that distinguish these products and lead to their name: structured notes. I Most of these products share a common foundation in pairing a Treasury or corporate bond with an options contract; the option bets on the direction of a stock or stock index over time. ... -- read full article
AFP - Europe's main stock markets dropped Friday, with London hit by losses to heavyweight banks after share prices fell further in Japan, traders said.
Reuters - Shares of General Motors Corp
and Ford Motor Co plummeted after credit ratings agency
Standard & Poor's said it may cut the U.S. automakers' ratings.
Reuters - Stocks extended their losses on Friday
after Standard and Poor's said it may cut the credit rating of
the Big Three automakers, compounding banking-related jitters
also driving the market lower.
Reuters - The Toronto Stock Exchange's main index
slid on Friday, losing more than 100 points, as resource shares
retreated and the financial sector weighed. -- read full article
