Word: plummeted
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Another bet that didn't pay off for Freddie was on interest rates. The firm's managers bought derivatives that would pay out if interest rates rose. Instead, a global financial meltdown has caused interest rates to plummet. That resulted in a $15 billion loss for Freddie from its hedges...
...children out of their international schools, and he still frequents the American Club sports bar, where the TV screens hanging from the ceiling blare more CNBC financial news than football or tennis. Most evenings, the crowd of bankers and businessmen groan and gulp their drinks as they watch markets plummet...
What appears to make little sense is that the rally spread to firms that have nothing to do with the financial and banking sector. Intel (INTC) rose 11%. PC sales are still expected to plummet this year. Shares of TIME Warner (TWX) soared 13%. The company's studio released Watchmen, which was No.1 at the box office over the weekend but since TWX is in several large businesses beyond films the increase is inexplicable...
...letter last month to the Harvard community, Faust announced that the construction of the $1 billion science complex would be slowed following bleak projections for the University’s endowment that could plummet as much as 30% in the year ending on June...
...bears, instead, are looking at the Chinese economy's continued signs of weakness. Exports, a key driver of growth, continue to plummet as demand for China's toys, blue jeans and TV sets dries up in the United States. In January, exports plunged 17.5% from the same month a year earlier. Nor are the more negative convinced that the better data coming out of China are as meaningful as they appear. Take, for example, the record level of loans, which some argue won't stimulate growth as much as expected. There are signs that some borrowers, for example, are trying...