Word: stockely
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Fear and despair returned to Asian stock markets on Friday as a drumbeat of bad economic news helped send share prices across the region plunging to historic losses...
Despite the stomach churning stock plunges, the situation with insurance companies simply doesn't compare with the failed banks, says financial analyst Barry Rabkin of Financial Insights, an IDC company. "They're solvent - solidly solvent" thanks to conservative investments and tight state regulator oversight. The big companies are "not going anywhere...
...fall? People have been anxiously wondering as they watch the plunging stock market. But increasingly the same question is being asked about another crucial figure: the price of oil. It has plummeted nearly 40% in just three months, from about $147 a barrel in July to below $83 on Friday, with no obvious bottom in sight. If that sounds good, you are probably a driver who winces these days at filling your gas tank. But the downward spiral could mean trouble for oil-rich countries and for the environment...
...producers have good reason to be nervous. Many are still haunted by a disastrous error made at an Opec meeting in Jakarta in 1999, when the cartel - which produces more than a third of the world's oil - opted to raise its production levels. Within weeks Asian stock markets tumbled, driving world oil prices down to $11 a barrel. Oil officials in Saudi Arabia and elsewhere have cited that price crash as the reason they've rebuffed pleas from President Bush to pump more oil. Says Benali: "Countries have learned the lessons of the past...
...stock-market investors, this week was the worst ever. The Dow industrials fell a record 18%, with the NASDAQ down 15% and the S&P 500 off 18%, as the crisis that has been roiling debt markets finally slopped over to equities in full force. The euphoria of the last hour of trading on Friday - when major markets turned positive and then ended the day only slightly down, with the Dow dropping a relatively modest 128 points, to 8,451.19 - hardly offset the terror of a rambunctious 700-point drop in the Dow at the opening bell. Events were...