Asian Stocks Drop Dramatically
Volatility and risk aversion in global stock markets continued in Asia, where sharp falls in the Nikkei 225 and other indexes all but wiped out an extraordinary rally.
Home Prices Seem Far From Bottom
Home prices are likely to fall through late 2009, if not longer, economists say.
Swiss Banks Get Emergency Funds to Fight Crisis
Switzerland’s two largest banks will receive emergency financing from the government and other investors to shore them up against the financial crisis, they said.
Cuomo Seeks Recovery of Bonuses at A.I.G.
New York’s attorney general, Andrew M. Cuomo, demanded that the insurer recover bonuses and other payments from its former executives, lest he take formal action against the company.
Banks Brace for Slump as Economy Weakens
JPMorgan Chase, Wells Fargo, and State Street announced earnings that beat expectations, but their shares fell on fears of a drawn-out erosion of the economy.
As Consumers Keep Wallets Shut, Economic Outlook Dims
The cutback in spending was underscored by the anecdotal in the Fed’s “beige book,” a regular survey of businesses around the country, which found pessimistic outlooks across the board.
Asia Looks to Its Own Consumers to Bolster the Region’s Economies
As spending falls in the U.S. and Europe, Asian consumers may be the last hope to preserve economic growth around the world — if Asians can be encouraged to spend.