Wall Street's had a terrible Tuesday
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Stocks tumbled Tuesday, continuing the abysmal start to the new year, as investors eyed a sharp jump in consumer credit and a warning from AT&T about its consumer business - and opted to bail out of a variety of sectors.
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Stocks slid sharply on Tuesday, joining a global equity rout on fears of a U.S. recession and pushing the Nasdaq into bear market territory.
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Leading shares closed down Wednesday, just off session lows, with financial stocks providing the main drag on the Footsie, while Wall Street made heavy losses after disappointing pending home sales data hit investor confidence.
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Wall Street got the blues yesterday and took it out on blue chip stocks amid concerns about declining corporate profits, recent oil price spikes and an expected boost today in short-term interest rates by the Federal Reserve.
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Stocks got battered on Tuesday after the minutes from the last Federal Reserve policy meeting failed to reassure investors worried about weak housing, consumer confidence reports and ongoing credit and mortgage market woes.
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Business & money: Wall Street threatened by crumbling housing market.
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On Wall Street, stocks had their worst weekly performance since January 2003.
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The stock market started off badly on Monday, dropping more than it had in any single day since July. Wall Street fared better over the next three days, but a plunge on Friday sent the market down for the week.
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Stocks struggled Wednesday morning after the big selloff on Tuesday as investors weighed earnings from GM and Lehman Brothers against ongoing worries about the subprime mortgage market.
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Weak chain-store sales, stumbling job growth and more record oil prices were too much for Wall Street&#39;s bulls to bear last week.
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Stocks were mixed in volatile trading a day after the market suffered its worst slide since 2001 as weak economic data prompted investor worries.
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Wall Street is expected to plunge at the opening bell today, extending huge losses from last week. Indicators show the Dow will fall by about 500 points when trading begins, the sharpest drop at the open for U.S. stocks since the first session after the 9/11 attacks. World markets also are plunging as traders fear the United States is headed for a recession.
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NEW YORK, June 12 -- Wall Street plunged Tuesday as investors drove the Dow Jones industrial average down nearly 130 points while grappling with a seemingly relentless rise in bond yields.
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Shares fell sharply in early trading as investors grew cautious a day after Wall Street rallied on hopes for an interest rate cut.
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US stocks suffered a late afternoon plunge on Tuesday as downbeat news from AT&T and more trouble in the housing market raised fresh fears over the health of the US economy.
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Stocks plunged Tuesday, driving the Dow Jones industrials down 200 points and erasing the gains from the past three sessions, as troubles for subprime lenders kept piling up and U.S. retail sales came in weaker than anticipated.
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Stocks tumbled across the board Tuesday, with the Dow industrials sinking about 500 points at one point. It closed 415 points down -- the biggest one-day drop in three years. The New York Stock Exchange tried to limit declines by imposing trading curbs. The selloff is on the back of a nearly eight-month rally.