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The S&P 500 turned negative for the year on Tuesday as the wrangling over the U.S. debt ceiling faded and investors turned their attention to the stalling economy.

Consumer spending dropped in June for the first time in nearly two years and incomes barely rose, signs the economy lacked momentum as the second quarter drew to a close.

Stocks dropped on Tuesday as worries about the health of the global economy and a possible downgrade for U.S. debt sent the S&P 500 crashing through key technical levels in an ominous sign for markets.

Consumer spending dropped in June for the first time in nearly two years and incomes barely rose, signs the economy lacked momentum as the second quarter drew to a close.

Barclays is set to cut about 3,000 jobs this year to reduce costs after a drop in bond trading and an insurance mis-selling charge cut first half profits by a third.

Wall Street equity futures were lower on Tuesday as a last-minute congressional deal to raise the U.S. debt ceiling failed to assuage investor concerns that a credit downgrade could be avoided.

Wall Street equity futures were lower on Tuesday as a last-minute congressional deal to raise the U.S. debt ceiling failed to assuage investor concerns that a credit downgrade could be avoided.

Oil fell on Monday, reversing gains as weak U.S. manufacturing data and a firming dollar hit crude prices that were buoyed earlier by a deal to raise the U.S. debt ceiling.

The economy stumbled badly in the first half of 2011 and came dangerously close to contracting in the January-March period, raising the risk of a recession if a stand-off over the nation's debt does not end quickly.

The euro stayed under pressure in Asia on Friday as worries about the euro zone debt crisis flared up following a jump in Italy's borrowing costs, while investors also kept the dollar at arm's length amid the ongoing threat of a U.S. debt default.

The number of Americans claiming new jobless benefits hit a three-month low last week and contracts to buy existing homes rose in June, hopeful signs for an economy that has struggled to regain momentum.

A lower house committee of Japan's parliament on Tuesday passed a bill to help Tokyo Electric Power pay billions of dollars in compensation to those hurt by the Fukushima nuclear disaster, ensuring a law will soon be in place to guarantee the utility's survival and get aid to victims.

The U.S. dollar remained on the defensive in early Asia-Pacific having hit record lows on the safe-haven Swiss franc as the market awaited the latest attempt by President Barack Obama to break the deadlock on debt talks.

Stock index futures dropped on Monday as a political impasse in Washington's debt ceiling talks fueled worries of a U.S. default, knocking world equities lower and pushing gold to a record high.

Goldman Sachs has cut its forecast for U.S. second-quarter growth to 1.5 percent from 2 percent, citing weak consumer spending.

Goldman Sachs has cut its forecast for U.S. second-quarter growth to 1.5 percent from 2 percent, citing weak consumer spending.

Pressure on Europe's banks to raise more capital increased on Monday after last week's stress tests revealed their holdings of European sovereign debt, with likely losses on Greek bonds a growing concern.

Banks that scraped through the European Union's stress test of 90 lenders will start feeling the heat Monday from investors to beef up capital buffers.

When the war in Libya started, many young men now on the rebel front line at Misrata were so interested in computer games and mobile phones that older residents never thought they would turn into fighters. Before the uprising, all those young men cared about was hair gel, clothes, music, mobile phones and hanging out in cafes, said Mahmoud Askutri, a businessman who has formed and funds the 1s...

U.S. consumer confidence hit a near 2-1/2 year low in early July and manufacturing output stalled in June, further frustrating expectations of a quick economic growth rebound in the second half of the year.

Moody's cut Ireland's credit rating to junk on Tuesday, warning that the debt-laden country would likely need a second bailout -- just the latest move amid heightening concerns about Europe's ability to address its debt crisis and prevent it from spreading.

Call it a lost two years, and counting.The economic malaise afflicting industrialized economies on both sides of the Atlantic isn't as long-lived as Japan's lost decade yet. But as a distressingly weak June jobs report made clear on Friday, two years after a deep recession ended, central bankers have yet to engineer convincing recoveries.

The Federal Reserve's $600 billion Treasury buying spree is over and the bond market is growing nervous now that its biggest bidder has stepped aside.

The Federal Reserve's $600 billion Treasury buying spree is over and the bond market is growing nervous now that its biggest bidder has stepped aside.

Asian stocks steadied near one-month highs on Tuesday as market players took a breather after five consecutive days of gains while the Australian dollar dipped ahead of a policy meeting of the country's central bank where it may signal a dovish stance.

Asian stocks were steady near one-month highs on Tuesday as market players took a breather after five consecutive days of gains while the Australian dollar slipped ahead of a policy meeting of the country's central bank.

Europe's banks may need to raise over 50 billion euros ($71.6 Billion) after regulators slapped an extra capital surcharge on big lenders to make them safer and forbid the use of debt to pad out the extra cushion.

Shares in Europe's banks dipped Monday after regulators slapped an extra capital surcharge on big lenders to make them safer, and told them they could not use contingent capital for the extra cushion.

European banks and insurers moved closer on Friday to a voluntary rollover of their Greek government debt holdings, hoping to get around rating agencies' reservations and avoid a Greek default.