Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Stocks Sink as Bernanke Hints at Rate Cut

After early optimistic surge, Dow falls 300 points

By the Associated Press

Posted Oct 7, 2008 1:28 PM CDT

(AP) – Federal Reserve Chairman Ben Bernanke warned today that the financial crisis has not only darkened the country's current economic performance but also could prolong the pain. The Fed chief's gloomy assessment appeared to hint of an interest rate cut on or before the Fed’s... Read full story »

COMMENTS

Read the comment policy

You need to Log in to Newser to comment. Don't have an account yet? Sign up now!

There are no comments

A snapshot of the day's best news stories.

View Larger Grid

All Today Yesterday Pick a Date

What's Popular Now on Facebook

Cops Shoot Naked Guy Eating Man's Face on Highway

Japanese Artist Serves Up Own Cooked Genitals

Associated Press (Source Grid »)

Money

Ben Bernanke • stock market • Federal Reserve • Dow Jones • interest rate • interest rate cut • economy • financial crisis

More Newser Stories

Fed Cuts Rate to 0%-0.25%

Target is record low as Reserve battles recession

(AP) - The Federal Reserve today cut its target for a key interest rate to the lowest level on record and pledged to use "all available tools" to combat a severe financial crisis and prolonged recession. The central bank says it reduced the federal funds rate, the interest that banks charge each other, to a range of 0% to 0.25%. More»

Record Low Rates Leave Investors Cold

Cut is likely tomorrow, but Wall Street wants more varied approach

(NEWSER) - Tomorrow the Federal Reserve will probably cut its target interest rate to 0.5%, the lowest in decades. But, the Wall Street Journal reports, investors are unlikely to be cheered by a further slash, instead waiting to hear what further measures Fed chief Ben Bernanke is preparing now that interest rate cuts have essentially stopped working. More»

Think 1% Is Low? He Could Go to Zero

Analysts predict Japan-style cuts in interest rates

(NEWSER) - Yesterday Ben Bernanke cut the federal funds rate to an ectomorphic 1%—but the Fed might not be done yet. More and more analysts are predicting that the central bank will have to cut rates all the way to zero if it wants to get the economy moving again. But don't get too excited, writes the New York Times: A 0% funds rate would apply only to interbank lending, and wouldn't mean free money for consumers. More»

Speculation on New Fed Rate Cut Tempers Losses

Stocks dip early, then tick closer to even ahead of mid-afternoon announcement

(NEWSER) - Stocks swung upward after big opening losses today, the Wall Street Journal reports, helped by speculation that the Federal Reserve might step in to help AIG and cut interest rates. The Dow, down 155 early, was just barely negative before noon, with a similar pattern from other indices. “We're in uncharted territory,” one funds manager told Bloomberg. “There's no real historic precedent for what we're going through.” More»

Fed Keeps Rates Low

But central bank sees hope amid slow recovery

(AP) - The Federal Reserve has decided to hold interest rates at a record low and pledged to keep them there for an "extended period" to keep the recovery going and drive down double-digit unemployment. But in a more upbeat assessment, the Fed says the US economy has "continued to pick up" and that "deterioration in the labor market is abating," a nod to the recent slowdown in the pace of layoffs. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Stocks Sink as Bernanke Hints at Rate Cut

After early optimistic surge, Dow falls 300 points

Ben Bernanke • stock market • Federal Reserve • Dow Jones • interest rate • interest rate cut • economy • financial crisis

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Fed Cuts Rate to 0%-0.25%

Target is record low as Reserve battles recession

Record Low Rates Leave Investors Cold

Cut is likely tomorrow, but Wall Street wants more varied approach

Think 1% Is Low? He Could Go to Zero

Analysts predict Japan-style cuts in interest rates

Speculation on New Fed Rate Cut Tempers Losses

Stocks dip early, then tick closer to even ahead of mid-afternoon announcement

Fed Keeps Rates Low

But central bank sees hope amid slow recovery

About Us

Site

Community

Site Maps

Tools

More News

What is Newser?