Spain’s benchmark borrowing costs climbed to a record yesterday, raising the specter of sovereign bailouts for the government in Madrid and then Italy that would stretch European Union finances to their limit.
Tag: European Central Bank
Central banks join forces to ease financial strains
Some of the world’s biggest central banks have announced a programme of co-ordinated action designed to support the global financial system.
Stocks Higher on Wall Street
Positive economic data spurs a rise in the stock indexes
Stocks rose on Thursday December 22nd putting the Standard & Poor’s 500-stock index on the cusp of finishing out the year higher as another decline in jobless claims pointed to further improvement in the labor market.
Another Recession is on the way!
WASHINGTON — Discouraging economic data from around the globe have heightened fears that another recession is on the way.
Fresh evidence emerged Thursday that U.S. home sales and manufacturing are weakening. Signs also surfaced that European banks are increasingly burdened by the region’s debt crisis and sputtering economy.
The rising anxiety ignited a huge sell-off in stocks that led many investors to seek the safety of U.S. Treasurys.