Thursday, June 19, 2008

America's Financial Worries Continue

Wall Street's credit crisis heads into second ye :
By JOE BEL BRUNO, AP Business Writer Wed Jun 18, 3:59 PM ET
NEW YORK - There are new signs that the worst of the global credit crisis is yet to come, and that banks and brokerages caught up in the market turmoil may lose $1 trillion by the time it has passed.

Stocks drop on bank worries, FedEx profit warning : NEW YORK - Wall Street sank Wednesday for the second straight day on renewed concerns about the financial sector and FedEx Corp.'s warning that weakening demand and surging fuel costs would weigh on its profits in the coming year.

FedEx swings to 4Q loss; guidance disappoints
Airlines weigh more jobs cuts, fees to offset fuel
China yuan hits new high against US dollar
Fifth Third stock plunges 27 pct after moves
Morgan Stanley 2Q profit falls 61 percent
Bank and economic fears drive Dow to 3-month low
GM, auto shares tumble as outlook darkens

No comments: