Reuters - The Federal Reserve and Securities
Exchange Commission (SEC) are finalizing an agreement to start
the process of redrawing how Wall Street is regulated, the Wall
Street Journal said on its website on Sunday.
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.
