Shares of mining companies dropped Friday with the broader market as the price of oil and precious metals fell on growing concerns that rapid growth in China will slow.
The Dow Jones industrial average dropped nearly 100 points in early afternoon trading, led by sharp losses in energy and materials stocks.
Investors are worried that China might [...]
Archive for the ‘Economic Turmoil’ Category
Mining company stocks fall amid China concerns
November 12th, 2010 by Financial Writer
Tags: Chinese economy, Dow Jones Industrial, exchange rates, inflation, precious metal, stock market
more...China’s Inflation Accelerates to 4.4%, Fastest Pace in Two Years
November 10th, 2010 by Financial Writer
China’s inflation accelerated to the fastest pace in two years in October, building the case for the central bank to add to last month’s interest-rate increase.
Consumer prices rose 4.4 percent from a year earlier, boosted by food costs, a statistics bureau report showed in Beijing today. That was more than the 4 percent median forecast [...]
Tags: bank of china, central bank, Chinese economy, consumers, financial crisis, inflation
Gold Drops From Record as Dollar’s Climb Cuts Investors’ Demand for Haven
November 8th, 2010 by Financial Writer
Gold for immediate delivery declined as the dollar strengthened, paring investors’ demand for the metal as an alternative to currencies. Silver reversed a fall to climb to the highest price since March 1980.
Spot gold dropped for the first day in four, losing as much as 0.4 percent to $1,403.65 an ounce before trading at $1,407.35 [...]
Tags: economic, economists, exchange rates, gold price, inflation, loans, money, precious metal, us economy, us stocks
Inflation Bonds Are Sold With Negative Yield for First Time
October 25th, 2010 by Financial Writer
At a time when savers complain that they are earning almost no interest from their bank accounts, some investors on Monday bought United States government bonds that effectively had negative rate of return.
Bizarre as it sounds, that is correct. In an auction of a special kind of five-year Treasury bond, investors paid $105.50 for every [...]
Tags: borrowers, commerce department, financial crisis, inflation, interest rates, investors, loans, money, us stocks, us treasury
China’s interest-rate hike causes turmoil
October 19th, 2010 by Financial Writer
The central bank’s move is aimed at reining in an unbridled real estate market and inflation in China. The move sends stocks and commodity prices plunging around the globe and raises new concerns about the U.S. recovery.
Reporting from Washington and Beijing — A surprise interest-rate hike by China raised the prospect Tuesday that the world’s [...]
Tags: business, businesses, economic recovery, financial system, Global Economy, real estate sector, us economic
Citi’s Good News Proves Reassuring
October 18th, 2010 by Financial Writer
Vikram Pandit, chief executive of Citigroup, has snatched some of Jamie Dimon’s market momentum. Mr. Dimon, who runs JPMorgan Chase, has lately been setting a comforting tone for the sector’s earnings. But growing foreclosure-related fears overshadowed his bank’s latest decent results. Now, his counterpart at Citigroup seems to be the one reassuring investors.
Not that Citi’s [...]
Tags: business, european economy, Federal Reserve, financial markets, foreclosure, mortgage lenders, us tax
Bernanke’s Caution Doesn’t Dim View On Asset Buys
October 16th, 2010 by Financial Writer
BOSTON (MarketWatch)–While Federal Reserve Chairman Ben Bernanke was regarded as cautious about a second round of bond-buying to stimulate the economy, economists on Friday said the underlying message was still that some sort of program would be enacted.
“Bernanke knows that the market is allocating more than a 90% probability [of a second round of bond [...]
Tags: economists, economy recovery, Federal Reserve, inflation, loans, monetary, money, unemployment rate, us economy
Gold May Climb to Record $1,650 an Ounce on Fed Easing, Goldman Forecasts
October 13th, 2010 by Financial Writer
Gold may rally more than 20 percent from this month’s record to a high of $1,650 an ounce in 12 months as the Federal Reserve takes action to stimulate the U.S. economy, according to Goldman Sachs Group Inc.
Bullion may gain to $1,400 an ounce in three months and $1,525 an ounce in six months, analysts [...]
Tags: Federal Reserve, interest rates, monetary, us economic recovery, us economy
Wall Street feeling some of Main Street’s economic woes
October 12th, 2010 by Financial Writer
Analysts have recently slashed earnings estimates for a number of big players, and several firms have quietly fired staff. Many more layoffs are expected by early next year.
Reporting from New York — For a while, Wall Street seemed impervious to the economic woes clobbering Main Street, with bank profits, bonuses and share prices rebounding sharply.
Not [...]
Tags: business investment, economic growth, financial crisis, financial services, loans, unemployment rate, us economy, wall street
Economy shed 95,000 jobs in September
October 10th, 2010 by Financial Writer
A sharp falloff in local government payrolls, mostly at schools, added an ominous new weight to the depressed labor market last month as the American economy lost 95,000 jobs and the unemployment rate remained at 9.6 percent.
In the last monthly employment report before the Nov. 2 midterm elections, which many see as a referendum on [...]
Tags: Dow Jones Industrial, economic indicators, economists, economy activity, lower interest rates, unemployed americans, unemployment rate