123jump.com Staff
08 Oct, 2008
New York City
Stewart Enterprises plunges 25% after the rival Service Corp withdrew the offer. Merrill Lynch falls on the worries that current quarter loss will be wider than expected. Bank of America drops on $10 billion capital raising plan. MetLife plans secondary offering.
123jump.com Staff
08 Oct, 2008
New York City
Japan stocks plunged in a record one-day loss since 1987. Rising bankruptcies, worries related to banking sector health and falling profits from automakers dragged markets lower. Toyota dived 11% after media reports suggested 40% fall in profit for the current year.
123jump.com Staff
08 Oct, 2008
New York City
The Fed in a coordinated move with five other central banks lowered its key lending rate. The move comes after the Fed became the lender in the commercial paper market and offering nearly $900 billion in short term lending and expanding several times lending facility this year.
123jump.com Staff
08 Oct, 2008
New York City
Asian and emerging markets plunge. Japan dropped the most since 1987. Indonesia halted after 10% fall. Russia drops 11% and closed exchanges till Oct 10. India with 3% loss is down 50% for the year. Hong Kong plunges 8.2% and cut rates. Australia declines 5%.
123jump.com Staff
07 Oct, 2008
New York City
Real estate investment trusts plunged on the worries that tight credit conditions may force some companies to bankruptcies. General Growth Properties dropped 42% and Simon Property fell 10%. Bank of America sank 26% after it cut its dividend. Airlines plunged on aircraft financing worries.
123jump.com Staff
07 Oct, 2008
New York City
For the first time in the year all thirty stocks in Dow Jones Industrial Average dropped two days in a row. Record number of stocks in S&P 500 index closed down, 400 stocks fell more than 3% and 74 stocks fell more than 10%. The Fed acts to provide liquidity in short term loan market.
123jump.com Staff
07 Oct, 2008
New York City
UK stocks gained a fraction after dropping the most in a single day in the previous session in seven years. The UK government is at advanced stages of discussion to pump between
123jump.com Staff
07 Oct, 2008
New York City
The Reserve Bank of Australia lowered its key lending rate by 100 basis points to 6%. The larger than anticipated cut was prompted by tight lending conditions in the global markets. Stocks rallied on the rate decision. Mining and energy stocks rallied but gains were trimmed in late trading.
123jump.com Staff
07 Oct, 2008
New York City
Early rally in Mumbai trading faltered despite Sebi lifting the ban on P-note transactions and the RBI lowering cash reserves ratios by 0.5%. Tata Motors agreed to relocate its Nano manufacturing plant to Gujarat. Rupee dropped to another low. Infosys drops to a 2-year and TCS falls to 3-year lows.
123jump.com Staff
07 Oct, 2008
New York City
The Bank of Japan left its key lending rate at 0.5% and cautioned that commodities prices are likely to drop but inflation is expected to remain near 2.5%. Japanese yen edged lower but traded near three-year high against euro and dollar.
123jump.com Staff
07 Oct, 2008
New York City
The Fed set up a special fund to purchase high quality short term loans in the commercial paper market. The move is likely to improve liquidity and restore confidence in the short term loan market that has faced historic volatility and near seizure in the last few weeks.
123jump.com Staff
06 Oct, 2008
New York City
Hong Kong and China stocks fell as bank crisis extends to Europe from the U.S. Germany was forced to bailout second largest real estate lender. stocks in China fell on the worries that exports from the region will fall. Hong Kong and Shanghai fell 5%. Casino and shipping stocks plunge.
123jump.com Staff
06 Oct, 2008
New York City
Worries of developed nations economy sliding into a recession and dragging economies of China and India unnerved Australian investors. Exports of commmodities may fall on the weakening economies of Asia. Financials,energy and miners dropped.
123jump.com Staff
06 Oct, 2008
New York City
Stocks in Japan fell sharply after the banking crisis in Europe deepened and Germany was forced to bailout second largest real estate lender. Fearful investors worried that exports from Japan are likely to fall as credit market tighten in the U.S. and Europe. Commodities stocks fell.
123jump.com Staff
06 Oct, 2008
New York City
The Reserve Bank of India relaxed cash reserve ratio to pump liquidity in the financial system. Stocks fell to two-year low as the benchmark index declines 42% for the year. Rupee dropped to a 5-year low after international investors withdraw money from the market. Reliance drops 6%.
