Monday, the Dow Jones Industrial Average closed below the psychologically-important 10,000 level for the first time since 2004.
Despite the milestone-marker breach, however, there was a large group of Americans with reason to cheer. As stocks sold off, mortgage markets rallied to the benefit of home buyers and mortgage rates shoppers everywhere.
Conforming mortgages rates improved yesterday.
Monday, the Dow Jones Industrial Average closed below the psychologically-important 10,000 level for the first time since 2004.
Despite the milestone-marker breach, however, there was a large group of Americans with reason to cheer. As stocks sold off, mortgage markets rallied to the benefit of home buyers and mortgage rates shoppers everywhere.
Conforming mortgages rates improved yesterday.
Alex Mathew, head - research centre, Geojit Financial Services said, ``We had seen a choppy session with Nifty ending in red at 4,039.7, losing 0.23%. The culprits for the fall today were IT counters of which Infosys, Satyam, TCS and Wipro faced heavy bull liquidation due to fear of slow down in these sectors. The situation was further dampened after the forex losses revealed by the company. This
Lehman Shares Fall Below $28 Price In Capital-Raising >LEH
Last Update: 6/10/2008 11:50:06 AM
DOW JONES NEWSWIRES
Shares of Lehman Brothers Holdings Inc. (LEH) continued their fall, dropping over
6% Tuesday as their month-long swoon resulted in the brokerage shedding 40% of
its market value.
Monday’s projection of a $2.8 billion quarterly loss deepened anxieties that
banks and [...]
Hopes that 2008 will bring a rebound in the Bay State’s battered real estate market are fading, with new numbers showing another big drop in home sales and prices.Massachusetts single-family home sales plunged last month by 17.1 percent, the Warren Group reported.And median home prices also fell beneath the $300,000 mark for the first time since March 2004. The state’s median home price in October was $290,000, a 6.5 percent decrease.
Oil prices fell Monday following last week's release of British sailors detained by Iran, but concerns over the tight U.S. demand-supply balance and other geopolitical issues supported prices.
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From India DailyThe world stock markets were rising with hope that the emerging economies will absorb the deflation and underemployment of the US, Japan and Euro Zone economies. But things now look entirely different.The rapid growth in China and India have brought hyperinflation back with huge disparity in income levels and uneven distribution of wealth. China and India both are concerned about the same.China raised interest rates for the third time in 11 months to curb inflation and reduce asset bubbles in the world's fastest-growing major economy.Indian Prime Minister has vowed to take all possible measures to curtail the rapidly rising inflation.But no one understands that the inflation getting registered in these countries and in the Western nations are driven by debt. Debt driven mild inflation is actually deflation. By borrowing and spending consumers are shift the deflation to the future. Eventually when they cannot service the debt in future, everything will collapse.[Read mo
