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Consumer Corner: Foreclosure settlement no magic bullet for economy
NEW YORK, July 28 (UPI) -- Stocks indexes tumbled in New York Monday with the slide led by financial firms and automotive giant Ford Motor Co.
Washington Mutual shares fell 3.13 percent. Citigroup fell 7.59 percent and Wachovia shares fell 4.97 percent Monday. Among the most active stocks traded, Ford shares fell 5.4 percent Monday.
By close Monday, the Dow Jones industrial average was off 2.11 percent, or 239.61 points, to 11,131.08. The Nasdaq composite index fell 46.31 points to 2,264.22, off 2 percent. The Standard and Poor's 500 fell 23.39 points to 1,234.37, off 1.86 percent.
On the New York Stock Exchange, 857 stocks advanced and 2,289 declined on a volume of 1.172 billion shares traded.
The 10-year U.S. Treasury note rose 24/32 to yield 4.016 percent.
The euro traded at $1.574 Monday from Friday's close of $1.5699. Against the yen, the dollar was at 107.43 compared with Friday's close of 107.90.
Tokyo's Nikkei 225 Index closed up 19.02 points to 13,353.78, up 0.14 percent.
The FTSE 100 index in London fell 40.00 to 5,312.60, off 0.75 percent.
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SYDNEY, Feb. 13 (UPI) --
Researchers in Australia are developing a solar roof system that uses wasted energy to warm air and water.
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WASGHINGTON, D.C., Feb. 13 (UPI) --
Defense industries are weighing the potential impact of proposed defense cuts running into tens of billions of dollars over the next 10 years.
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Local markets will probably not be swamped by waves of foreclosures following the multi-state mortgage settlement announced yesterday. Rather, the huge inventory of one to two million foreclosures will enter markets gradually....
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Investors will not have the distraction of financial reports to look forward to this week. They will have to look at the spot news headlines instead.
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