123jump.com Staff
10 Oct, 2008
New York City
Stocks in New York trading continue to slide despite another round of assurances from regulators and President Bush. The Dow and S&P 500 indexes dropped more than 5%. Crude oil plunges more than $5 a barrel. Lehman credit default swap settlement indicates a price of near 90 cents for insurance.
123jump.com Staff
10 Oct, 2008
New York City
Asian markets plunge as global credit markets remain seized. Yamato Life in Japan filed for bankruptcy protection on sharp losses in investment portfolio. Markets in India plunge to as low as 9.6%, rupee drops to a record low and the RBI lowered the cash reserve ratio for banks.
123jump.com Staff
10 Oct, 2008
New York City
Prudential Financial reported after the close a loss in investment portfolio and suspended stock buyback. Horace Mann, another insurer tapped bank credit line to cover losses related to investments and hurricanes. Lincon Financial dropped ahead of earnings at the end of the month.
123jump.com Staff
09 Oct, 2008
New York City
Banks in UK are likely to tap as much as
123jump.com Staff
09 Oct, 2008
New York City
Hong Kong market averages rebounded from sharp declines on Wednesday as financial and realty stocks advanced on interest rate cuts in the region. Gains were limited as the interbank rates remained steady but near its record level, despite a rate cut by Hong Kong and China.
123jump.com Staff
09 Oct, 2008
New York City
Stocks in Australia shrugged of a series of interest rate cuts in the region and closed lower after unemployment rate increased in September and global economic worries dominate the economy. The Reserve Bank of Australia injected A$3.49 billion into the money markets today.
123jump.com Staff
09 Oct, 2008
New York City
Japan stocks trade lower despite interest rate cuts by central banks in the region. China lowered rates and bank cash reserve requirements, Korea lowered rates and India relaxed bank reserve ratio. Australia few days ago lowered days by full one percentage point. Machinery orders in Japan fell.
123jump.com Staff
09 Oct, 2008
New York City
Stocks plunge as investors lose confidence in the bank bailout plan and interbank lending remains tight. Of the stocks in S&P 500 index, 22 increased, 477 declined and 1 was unchanged. Of the index stocks, 5 rose more than 3% and 403 fell more than 3%. And 91 stocks plunged more than 10%.
123jump.com Staff
09 Oct, 2008
New York City
The New York Fed was forced to lend additional $37.8 billion to the fallen insurance giant AIG after its securities lending division faced a barrage of cash calls. Of the $85 billion loan issued by the Fed, $61 billion has already been used and more money may be needed to meet cash requirements.
123jump.com Staff
09 Oct, 2008
New York City
Stock in New York reversed the earlier gains and fell 1%. IBM reported better than expected earnings and guided 22% rise in the current fiscal year earnings. Interbank lending remains tight and rate hovered bear 5%, despite global rate cut.
123jump.com Staff
08 Oct, 2008
New York City
Stocks in Australia plummeted sharply on the weaknesses in the global economy as the International Monetary Fund forecasted that the losses on U.S. based loans and securities might rise to $1.4 trillion. The benchmark index in Australia dropped 5%.
123jump.com Staff
08 Oct, 2008
New York City
China and Hong Kong lowered key lending rates in lock steps with the Fed led coordinated to move to lower rates. HK lowered rates by 0.5% and China dropped lending rate by 0.27% for 1-year or longer dated maturities. In trading, benchmark stock indexes in Hong Kong plunged 8% and in China 3%.
123jump.com Staff
08 Oct, 2008
New York City
The global markets continue to reel under the widening banking crisis and weak confidence in the investor community. Stocks in New York, Europe and Asia continue to drift lower. The central bankers in the U.S., Europe, china other countries lower rate to improve liquidity.
123jump.com Staff
08 Oct, 2008
New York City
UK offered up to
123jump.com Staff
08 Oct, 2008
New York City
Rupee in Mumbai trading fell near five-year low and is likely to trade below record set in June of 2002. Rising trade and current account deficit and lack of interest from foreign investors has battered stocks and rupee. Sensex index dropped 3% and has lost nerly 50% from the peak in January.
