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
- ANITA MODAK-TRURAN — Mississippi’s motion picture renaissance
- Entergy gives solar a shot
- Critics say Pearl out to eliminate mobile homes and apartments – not safeguard them
- Challenging times ahead for Pearl’s manufactured home residents, apartment complex owners
- State Sen. McDaniel traveling Mississippi to promote PAC
- Nehi Bottling Company has been a Cleveland fixture for 85 years
- Despite obstacles, craft beer industry growing
- (VIDEO) DON GLIDEWELL — The threat of cyber crime to businesses is real
- WRESTLING SUCCESS — Ted DiBiase Jr. leaves ring to become entrepreneur