Dow falls more than 300 points as the market's October struggles persist- CNBC--10.18.18
Stocks fell sharply, adding to already steep losses for the month of October. Investors were concerned about a U.S.-China trade war, rising interest rates and lingering worries about overvalued tech stocks.
President Donald Trump says he'll ask Cabinet to cut department budgets by 5 percent- USA Today--10.17.18
President Donald Trump said he would cut the federal budget with the help of his Cabinet. Trump is asking every Cabinet secretary to cut 5 percent for the next year.
Fund managers haven’t been this bearish on global growth since 2008: BAML survey- Market Watch--10.16.18
Fund managers in October turned the most pessimistic on global growth prospects since the depth of the financial crisis in the fall of 2008. According to the survey, 38% of respondents said they expect deceleration over the next year for the global economy.
Milbank: The economy is crushing it – just like in 2008! - The Mercury News--10.16.18
Larry Kudlow, President Trump's chief economic adviser, proclaimed that there was no cause for concern. Many investors have heard Kudlow say similar words before just before the crash of 2008.
Seeds of next global financial crisis being sown, top officials warn- France 24--10.14.18
Rising U.S. rates, tanking emerging market currencies and a U.S.-China trade war could push the world towards its next financial crisis. The world economy is growing, but is facing an "unprecedented" combination of threats.
U.S. budget deficit jumps to $779 billion- Market Watch--10.15.18
The U.S. has recorded a $779 billion deficit in the fiscal year ending September 30, an increase of $113 billion. Interest on public debt shot up by nearly $65 billion while rising interest rates and a bigger debt also played a part in the growing deficit.
Tech stocks got clobbered, and the worst may not be over- CNN Business--10.11.18
Big tech stocks that have been soaring in the last year are tumbling this month. These tech stocks are vulnerable to the recent spike in long-term bond yields and signs from the Federal Reserve that it plans to keep hiking short-term rates throughout 2019.
Trump says the Federal Reserve caused the stock market correction, but he won't fire Chair Powell- CNBC--10.11.18
President Donald Trump is continuing to attack the Federal Reserve, saying Chairman Jerome Powell is being too stringent with monetary policy and is making a mistake.
Stocks close sharply lower as Dow sinks over 800 points in worst day since February- Market Watch--10.10.18
U.S. stocks closed sharply lower as the Dow fell more than 800 points while the S&P 500 suffered its worst day since February as technology stocks went into a freefall.
Wednesday's epic stock market tumble by the numbers- CNBC--10.10.18
Stocks suffered its worst day in eight months after a sharp downturn in tech stocks, coupled with higher interest rates, spooked investors.
The global economy not looking quite as rosy, IMF says - Market Watch--10.9.18
The IMF has cut its growth forecast for the global economy in 2018 and 2019 to 3.7%, 0.2% below its prior estimate for both years. This is a reflection of weaker growth in advanced economies, rising trade tensions and higher oil prices.
Cramer warns that all the CEOs he speaks to worry about a slowdown in earnings growth- CNBC--10.9.18
CNBC's Jim Cramer said that he speaks to dozens of CEOs every week and they're all worried about a slowdown in earnings growth. Cramer is also worried that the slowdown "is not just in housing."
US-China tensions flare as Secretary of State Mike Pompeo meets with counterparts in Beijing- USA Today--10.8.18
Secretary of State Mike Pompeo said the United States and China has "fundamental disagreements" to discuss behind closed doors during a high-stakes stop on Monday.
N.Y. Fed lowers U.S. Q3, Q4 GDP growth view- Reuters--10.5.18
U.S. gross domestic product is expanding at a 2.27 percent clip in the third quarter. The NY Fed is now projecting GDP in the 4th quarter to grow at a 2.80 percent rate, weaker than the 2.92 percent pace estimates the week before.
As stocks slide, investors see turn to a ‘defensive market’- Market Watch--10.5.18
Some market analysts are urging caution and suggesting the recent rise in volatility is likely to continue. One expert believes that in this market "defensive sectors" are where to be.
US Indicts 7 Russians In International 'Hacking Spree'- Zero Hedge--10.4.18
The DOJ has announced indictments against seven members of the GRU, Russia's military intelligence unit on Thursday and has accused Russia of embarking on a worldwide hacking spree.
Congress approved $2.4 trillion in additional debt during fiscal year 2018: Watchdog- The Hill--10.2.18
Congress has approved $2.4 trillion in debt during fiscal year 2018, according to an analysis published this week. The added debt includes $445 billion in new projected deficit spending for 2019.
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