Stocks retreat on news of slowing recovery
Published: August 11,2010
NEW YORK — Stock futures and interest rates are tumbling as investors worldwide grow concerned about the health of the U.S. economy after the Federal Reserve said the recovery was slowing down.
Overseas markets are falling sharply today.
The Fed says it will start buying government bonds with money it receives from maturing mortgage-backed bonds. The goal is to try to cut interest rates on mortgages and corporate loans, which in turn would increase borrowing and help the economy grow faster.
Dow Jones industrial average futures are down 126, or 1.2 percent, at 10,492. Standard & Poor’s 500 index futures are down 15.40, or 1.4 percent, at 1,104.30, while Nasdaq 100 index futures are down 27.75, or 1.5 percent, at 1,868.75.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- BILL CRAWFORD: Dan Jones not the angel he is portrayed to be
- JOSH MABUS: Bill Murray and business misfits
- The Dan Jones-IHL saga: Is this the story that started it all?
- Analysis: Closed meetings can feed false public impressions
- Email from Nash to Delta Council’s Morgan included in DHA court file
- Bill would use casino taxes for bridges, little for tourism
- DAVID DALLAS — From Dan and Dixie with love
- Suit against Kemper employee Brett Wingo is dismissed
- Statue depicts famous duel that originated 'Bowie knife'