Word: tuesdays
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Under pressure to demonstrate their viability in order to qualify for more government loans, General Motors and Chrysler couldn't produce any additional evidence on Tuesday. If they were taking physical exams, they both would have flunked...
...Japan's Nikkei fell to a near 26-year low before rebounding and closing down just 0.7% on Tuesday. Hong Kong's Hang Seng retreated 2.3% and Shanghai's main index dropped 1.1%. Seoul's KOSPI, however, finished up 0.7%, with Taiwan's index also slightly higher. (See pictures of the global financial crisis...
...Most European markets opened to small gains Tuesday, before wavering between green and red. By noon, London's FTSE 100 was down 1.2%, Paris' CAC was up 0.35 %, and Frankfurt's DAX was virtually flat...
...that self-fulfilling spiral also means relative calm can follow bouts of chaos. Though the causes of Monday's global sell-a-thon remain unchanged, by Tuesday markets had mostly digested it all - and began looking for ways to pick up, muddle on, and possibly find a deal to be had in dumped stock. One reason for the bargain hunting is that investors know inordinately depressed markets mean there are deals to be had. "Half of the companies on Paris' CAC 40 have seen their stock fall to less than their equity capital - which makes no economic or financial sense...
...breakfast with reporters on Tuesday morning, Baucus predicted that his committee could have legislation on the Senate floor as early as June, adding, "The conversation is going great guns." Among the ideas the six-term Montana Senator said he is willing to consider is one that has significant support among Republicans: changing the tax treatment of employer-provided health benefits, so that they might not be fully deductible for companies that provide them, and would be treated as income for the workers who receive them. Health-care experts say this would have the effect of encouraging more people...