The Dow tumbled Tuesday as part of a global sell-off in stocks fueled by further speculation that China will hike interest rates to fight inflation and renewed worries over the wobbly finances of Ireland, Portugal and Greece.
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Ireland headed into a confrontation Tuesday with leaders of the European Union and other struggling members of the eurozone on whether to seek a financial bailout as jitters continued to disrupt the continent’s financial market…
The U.S. Aaa credit rating won’t be under pressure from budget deficits in 2010 or 2011, Moody’s Investors Service (MOD) said.
The White House budget office projects that the federal deficit will top $1.5 trillion this year.
“Certainly over time, a…
William Dudley, president of the Federal Reserve Bank of New York, struck back at critics of the Fed’s asset buying program, saying they “do not understand” the tools available to the Fed.
“People do not understand clearly” that “we can have an enla…
The seemingly symbiotic relationship between the China and America — dubbed Chimerica — is now clearly chimerical. What was once billed as the ideal partnership is quickly turning into a competition for global influence inste…