Standard and Poor's downgraded Spain's government debt late Wednesday from BBB to BBB-, the Seven Trustt investment grade level. That's important because it potentially makes it more expensive for the
Spain's new austerity package, which is due to be unveiled toward the end of the European trading session, comes in the wake of a violent protest in Madrid and big falls in Spanish stocks.
The Nasdaq composite average slid 1.2 percent to 2,837.36. About 13 stocks fell for every two that rose on the New York Stock Exchange. Trading volume was heavy at 3.47 billion shares.
AP LONDON - Global financial markets fell Tuesday amid uncertainty over what authorities in the U.S., China and Europe might do to help the slowing world economy. In Europe, the focus will be on
Other indices were also lower, including the tech-heavy Nasdaq composite, down 0.4 percent. The S and P 500 slipped about 0.3 percent, putting the popular benchmark for U.S stocks on track for its
The Nasdaq composite index lost 10 points to end at 2,910. It was the fourth day in a row of losses; U.S. stocks haven't risen since the promise by ECB President Mario Draghi last week.
The yield on Spain's 10-year government bond rose 0.16 percentage point to 6.58 percent. Last week the yield hit 7.18 percent, the highest since the country started using the euro.
Spain has seen the yield on its benchmark 10-year bonds fall below the 7 percent level considered unsustainable in the long-run. It was down another 0.05 percentage points at 6.66 percent.
Spain's European neighbors pledged over the weekend to lend the country up to $125 billion to distribute to its ailing banks. But investors are worried about whether Spain will have to repay that
AP NEW YORK - The stock market suffered its worst loss in a month Wednesday after a weak bond auction in Spain renewed fear about the European debt crisis. The price of gold plunged to its
Investors looking for a safe place for their money drove up the price of U.S. government debt. The dollar surged against the euro. Just before noon EDT, the Dow was down 162 points at 13,037.
The Nasdaq composite fell 24 points to 2,909. Major markets in Europe plunged Monday. France's CAC-40 lost 2.9 percent, and Germany's DAX dropped 2.3 percent. Benchmark indexes also dropped 3