September 20, 2012 |
A former Wall Street trader plans to tell a congressional panel investigating computerized trading that the stock market is in a "crisis. " "U.S. equity markets are in dire straits," David Lauer, now a consultant with the advocacy group Better Markets Inc., said in his prepared testimony. "We are truly in a crisis. Over the past three decades a technological revolution has swept over Wall Street. " A Senate banking subcomittee holds a hearing Thursday on how regulations might rein in lightning-fast trading that precipitated the flash crash of 2010.
May 11, 2012 |
NEW YORK - Investors are selling off shares of major U.S. banks in midday trading on Wall Street, following news of JPMorgan Chase & Co.'s stunning $2-billion trading loss. While major indexes were initially down in early trading, all had turned positive three hours after the opening bell. The Dow Jones industrial average was up 42 points, or 0.3%, to 12,897. The Nasdaq was up 19 points, or 0.7%, to 2,953. JPMorgan's stock, however, was down sharply - losing $2.82, or 7%, to $37.92 a share.
August 19, 2011 |
A selloff in global stocks gathered pace Friday, reflecting mounting concerns that the U.S. economy is heading into another recession. Nervous investors fled to the safety of core government bonds, Swiss francs and gold, which hit a record high, with many seeking to unwind holdings of riskier assets such as stocks, commodities and higher-yielding currencies before the weekend. European shares extended steep losses from Thursday, when they suffered their biggest daily slide in 2 1/2 years, with key indexes in Britain, France and Germany deep in the red. U.S. stock index futures pointed to a sharply weaker open for equities on Wall Street, a day after the Nasdaq shed more than 5 percent and the S&P 500 tumbled 4.5 percent on rising recession fears.
September 9, 2011 |
Stock markets around the world fell sharply as investors feared that a European debt crisis was coming to a head and threatening to tip the global economy into a recession. The market declines were driven largely by reports from Germany that its leaders were preparing for Greece to default on its bonds but were struggling to reach a consensus on how to handle it. The news sent German stock markets down 4.1% on Friday, similar to the declines elsewhere in Europe. Leading U.S. stock indexes followed, with the Dow Jones industrial average experiencing its worst day in more than three weeks, wiping out gains made earlier in the week.
January 22, 2013 |
Stock and bond markets in the U.S. were closed Monday for the Martin Luther King Jr. holiday, but trading took place in the rest of the world. European stocks rose while German bonds declined as European finance ministers met for the first time this year to discuss the debt crisis. The Stoxx Europe 600 Index added 0.3%, with the volume of shares changing hands 34% less than the 30-day average. In Japan, the yen rose from a two-year low, strengthening 0.5% to 89.64 yen per dollar.
September 14, 2012 |
Investors' faith in the stock market has been shaken badly in recent years, and Wall Street's latest trading snafu could further chip away at their trust. The New York Stock Exchange agreed Friday to pay $5 million to settle charges that it made stock quotes available to select customers before the general public. It was the first-ever monetary penalty against a stock exchange. The fine itself was a pittance by Wall Street standards, and professionals got the quotes by only seconds, or even fractions of a second, before everyone else.