Wall Street stocks fall on Greenspan&#39;s warning on trade deficit
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Wall Street stocks traded sharply lower Friday after Federal Reserve Chairman Alan Greenspan gave a warning over the nation&#39;s spiraling trade deficit.
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The dollar slipped  on Friday, after  Federal Reserve Chairman Alan Greenspan's remarks on the U.S.  trade gap and on foreign demand for dollar-denominated  assets.
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U.S. stocks fell on Wednesday on deepening concerns that a crisis in lending could spread and a warning from the Federal Reserve chairman that weakness in housing could hurt economic growth for some time.
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WASHINGTON - Stock markets in the United States dropped sharply Friday after Federal Reserve Board Chairman Alan Greenspan warned about the risks to the economy posed by continued high US trade deficits.
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The dollar slid on Friday after  Federal Reserve Chairman Alan Greenspan said foreign demand for  U.S. assets, which has financed the country's massive current  account deficit and propped up the dollar,  would eventually  fall.
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Stock futures fell on Thursday,  indicating another drop on Wall Street after renewed worries  about the outlook for the financial sector overshadowed a rate  cut from the Federal Reserve.
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Investors' appetite for U.S. assets will eventually dwindle and the United States must reduce its budget deficit to prevent major economic damage, Federal Reserve Chairman Alan Greenspan said on Friday, in remarks that hit the dollar hard.
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Insatiable foreign demand for dollar  holdings will eventually fall and help reduce the massive  shortfall in the U.S. current account as investors diversify,  U.S. Federal Reserve Chairman Alan Greenspan said on Friday in  remarks that landed hard on the dollar.
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U.S. stocks declined on Thursday, pushed down by declines in banking shares after Britain's HSBC  warned that bad debts from its U.S. mortgage lending business would hurt results.
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European equities fell on Thursday after Asian stock markets were rattled by comments about the prospect of a Chinese economic slowdown from Alan Greenspan, former Federal Reserve chief.
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U.S. stock index futures sank in  holiday-shortened trading on Monday as fear of a U.S. recession  gripped investors, indicating Wall Street was likely to join a  global equity markets plunge that may usher in a bear market  when trading resumes on Tuesday.
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Alan Greenspan, the chairman of the Federal Reserve, said that America's trade deficit might be poised to stabilize and even fall because of market pressures.
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U.S. stocks slipped on Wednesday as Federal Reserve Chairman Alan Greenspan, speaking before Congress about the health of the economy, did little to quell expectations for a rate hike later this month.
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US stock-index futures declined before Alan Greenspan&#39;s presentation to Congress, where the Federal Reserve chairman may restate his commitment to a ``measured&#39;&#39; increase in borrowing costs.
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Wall Street stocks fell sharply on Wednesday after an index of manufacturing contracted last month to its lowest level since April 2003, raising fears that the US economy is slowing more than expected.
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The weak U.S. dollar and a huge trade deficit eventually may cause dire economic problems for the country, Federal Reserve Chairman Alan Greenspan warned Friday.
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US Federal Reserve chief Alan Greenspan has warned that the deficit in US trade with the rest of the world cannot be sustained indefinitely.