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Stocks Bounce, End Mixed

Stocks are up... no down... what's going on?!

By Sam Gale Rosen, Newser Staff

Posted Mar 17, 2008 3:50 PM CDT

(Newser) – Stocks seesawed throughout the day, finally ending today's session mixed, with the Dow closing up. The markets struggled to rebound from serious losses sustained after Bear Stearns' fire sale; buyer JPMorgan Chase's stock closed up 11%. The Dow ended up 21.16 at 11,972.25, the Nasdaq down 35.48 at 2,177.01, and the S&P 500 down 11.54 at 1,276.70.

"I'm optimistic as to the ultimate outcome, but the failure of a major bank is something that goes beyond the isolated event and creates a great deal of systemic risk for the financial markets," one expert told CNNMoney. The dollar also hit an all-time low against the euro, and a 13-year low against the yen.

Stocks were a little nutty today. ((c) Fullyarmedvishnu)

breakfast cereal ((c) .meow!.)

Stocks bounced crazily today, much like Tigger. ((c) ConspiracyofHappiness)

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Japan, China Cut Currency Deal, Shun Dollar

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(NEWSER) - Japanese Prime Minister Yoshihiko Noda met with Chinese President Hu Jintao in Beijing today, and emerged with a number of deals—including one that will marginalize the US dollar in Asia. The countries agreed to promote direct yuan-yen trades, the Wall Street Journal reports; until now, the money has usually been converted to dollars first. Japan will also hold yuan in its typically dollar-dominated foreign-exchange reserves. More»

Dollar Nears 3-Year Low

Set for biggest weekly plunge since January

(NEWSER) - The dollar’s value today remained near its lowest in three years against multiple currencies, and it’s set for its largest weekly drop since January, Reuters reports. The figures follow the Federal Reserve’s suggestion that it had no immediate plans to tighten its monetary policy, prompting a big sell-off of the dollar. With the dollar index down 0.1%, the euro held close to a 17-month high reached yesterday; it’s poised to break $1.50. The Australian dollar, meanwhile, is near its highest value in 29 years against the US dollar. More»

Greece Mess Means Big Trouble for Euro

Athens will probably have to leave the currrency

(NEWSER) - Greece is not the "next Lehman," writes Paul Krugman. It's not "big enough or interconnected enough" to cause that scale of global mess, or even yesterday's nightmare on Wall Street. But don't be too reassured. "Greece’s problems are deeper than Europe’s leaders are willing to acknowledge," he writes in the New York Times , predicting not only default for Greece but the "unthinkable" action of dropping the euro. More»

Count the US Dollar Down, But Not Out

Fears of a looming currency crash are overblown

(NEWSER) - With the US economy in a prolonged slump and the Fed likely to keep interest rates low for the foreseeable future, many worry that a dollar crash will be the next shoe to drop. Currency pessimists can point to a 6-month decline in the dollar; this week the currency hit $1.50 against the euro. But concerns of an imminent full-on crash are exaggerated—the dollar’s recent decline is a normal readjustment after the shocks of the financial crisis. More»

Euro Cracks $1.50, Dollar Hits New Lows

Investors shun low-yielding greenback for riskier currencies

(NEWSER) - The dollar fell below the $1.50 threshold against the euro yesterday for the first time in 14 months, as investors with renewed appetites for risk continue to abandon the greenback. The dollar is at its lowest level against six other currencies in more than a year, and foreign exchange experts foresee more falls for the low-yielding currency to come. But Europeans aren't happy at all about the strong euro; an adviser to Nicolas Sarkozy called the $1.50 level "a disaster" for business. More»

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Stocks Bounce, End Mixed

Stocks are up... no down... what's going on?!

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stock market • Bear Stearns • euro • yen • US dollar • JPMorgan Chase

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Japan, China Cut Currency Deal, Shun Dollar

Leaders also discuss North Korea

Dollar Nears 3-Year Low

Set for biggest weekly plunge since January

Greece Mess Means Big Trouble for Euro

Athens will probably have to leave the currrency

Count the US Dollar Down, But Not Out

Fears of a looming currency crash are overblown

Euro Cracks $1.50, Dollar Hits New Lows

Investors shun low-yielding greenback for riskier currencies

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Stocks Bounce, End Mixed

Stocks are up... no down... what's going on?!

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OTHER STORIES ON OUR RADAR

stock market • Bear Stearns • euro • yen • US dollar • JPMorgan Chase

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Japan, China Cut Currency Deal, Shun Dollar

Leaders also discuss North Korea

Dollar Nears 3-Year Low

Set for biggest weekly plunge since January

Greece Mess Means Big Trouble for Euro

Athens will probably have to leave the currrency

Count the US Dollar Down, But Not Out

Fears of a looming currency crash are overblown

Euro Cracks $1.50, Dollar Hits New Lows

Investors shun low-yielding greenback for riskier currencies

About Us

Site

Newser By Users

Community

Site Maps

Tools

More News

What is Newser?