Saturday, February 9, 2008

The Latest on US Market and Economy

A. Wall Street mainly lower after economic stimulus bill passes 9 Feb, 2008, 0353 hrs IST, AGENCIES NEW YORK:

US stocks finished mostly lower Friday as investors remained skittish a day after Congress approved an economic stimulus plan of some 150 billion dollars to help lift sagging growth...

Goldman said the market was seeing unusual swings amid a highly uncertain economic outlook.

B. US recession to be longer than usual: UMich
8 Feb, 2008, 2145 hrs IST, AGENCIES

YORK: The U.S. economy has entered a recession that will be more painful and drawn out than the usual downturn,

With Americans getting hit with everything from a housing downturn to excess borrowing, things will get worse before they get better. "Consumers must take more drastic steps to stabilize their finances in the midst of high fuel and food prices, stagnant incomes, and record debt," Curtin said.

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