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Shockwaves as Germany goes into recession ; ECONOMY

Article from: Evening Standard - London Article date: November 13, 2008 Author: HUGO DUNCAN

THE global economy took a new battering today as Germany became the first major nation to officially enter recession.

Gross domestic product in Europe's largest economy fell 0.5% in the third quarter, having dropped 0.4% in the previous three months.

While Germany was the first Group of Seven nation to officially enter recession, defined as two consecutive quarters of economic decline, other countries including Britain, the United States, France, Japan and Italy are expected to follow suit.

The Organisation for Economic Cooperation and Development today cut its forecast for global growth next ...

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Stocks Take Early Plunge

Posted Oct 24, 08 8:54 AM CDT in Business 

Stocks Take Early Plunge
Source: AP Photo/Richard Drew

(Newser) – Stocks took a big plunge at the open today, with the Dow down 411 points, after a morning that saw Dow and S&P futures fall so far that trading was halted. Driving the pessimism were similar plunges overseas, with the Nikkei down 9.6%, and London’s FTSE down more than 8%, the Wall Street Journal reports. “Everyone is staring at their screens in disbelief,” said one London strategist.

The S&P fell 5% while the Nasdaq dropped 4.7%. The specter of global recession was once again looming large, as Britain’s economy contracted a worse-than-forecasted 0.5% in the third quarter, while Korea posted its weakest growth in four years. Investors scrambled into treasuries, sending yields down 10 basis points. “Emotions are ruling the markets” said one bond strategist. “Treasuries seem a safe haven indeed.”

More about:  Dow Jones • stock market • S&P 500 • recession • global economy • NASDAQ • stock futures

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Wall Street Journal Wall Street Journal Nov 13, 08 8:55 AM CST
(Newser) - Jobless claims rose to a 7-year high last week, but that didn’t appear to move the needle for stocks, which barely budged at today's open. The Dow crept up 66 points, while the S&P and Nasdaq rose 0.9% and 0.4% respectively. A staggering 32,000 filed new jobless claims last week, to a seasonally adjusted 516,000, a much bleaker number than analysts anticipated. More »

More about:  Financial Crisis • Dow Jones • stock market • S&P 500 • recession • Wal-Mart • unemployment • Intel • NASDAQ • jobless claims

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 Dow Rises 108 to End Year 

Dow off 33%, S&P down 40% for 2008

MarketWatch MarketWatch Dec 31, 08 3:21 PM CST
(Newser) - Stocks posted gains in the last trading session of the year, but this two-day rally will do little to erase the indices' dismal record in 2008, MarketWatch reports. Amid light trading volume ahead of New Year's Day, the Dow gained 108 points to close at 8,776. The Nasdaq closed up 26.33 points at 1,577, and the S&P 500 rose 12.61 points to settle at 903. More »

More about:  Dow Jones • stock market • S&P 500 • Nasdaq • recession • unemployment • New Year's Eve

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 Bloodied Stocks Rebound 

Selloff brings in sellers

Wall Street Journal Wall Street Journal Nov 21, 08 8:45 AM CST
(Newser) - Stocks took a big bounce at the open today, after two brutal days that sent markets to 11-year lows. The Dow jumped 137 at the open, with the S&P and Nasdaq trading 2.2% and 1.8% higher, respectively. Citigroup shares jumped 5%, on news the company was considering selling all or part of itself. The company has dropped 50% in the past two days. More »

More about:  Dow Jones • stock market • S&P 500 • NASDAQ • Dell


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