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Bank of America's stock tumbled Monday, down 16 percent as investors reacted to a lawsuit filed against the bank by AIG.

In opening minutes of trading, the Dow Jones Industrial Average is down 1.2 percent, S&P 500 has slid 2.2 percent and Nasdaq has fallen 3.1 percent.

Investors scrambling for cover during the U.S. deficit and debt ceiling talks and Europe's ongoing sovereign debt crisis sold stock funds and bought emerging market debt and commodities, data from EPFR showed on Friday.

Solid July job gains calmed U.S. markets on Friday, but Wall Street remained nervous among talk that the nation may be falling into a double-dip recession.

Markets remained jittery Friday even as Dow futures rose ahead of a jobs report that was slightly better than expected.

President Barack Obama turned 50 on Thursday. But the celebration was muted by a big decline on Wall Street. Some economists are suggesting the U.S. is just "one shock" away from another recession, and questions are being peppered to Obama about his plans for turning around the U.S. economy.

The U.S. is just one-shock away from a double-dip recession, one economist says.

The top pre-market NASDAQ Stock Market gainers are: Foster Wheeler AG, SIRIUS XM Radio, Cognizant Technology Solutions, Sohu.com, and Pan American Silver. The top pre-market NASDAQ Stock Market losers are: Ctrip.com International, Allot Communications, Nova Measuring Instruments, Kulicke & Soffa Industries, and Ryanair Holdings.

HighTower Advisors, a firm that is expanding by poaching financial advisers from the big brokerages, on Monday said it hired a private banking team from Merrill Lynch managing more than $1 billion of client assets.

Merrill Lynch, the second largest U.S. brokerage by assets and financial advisers, on Monday said it hired seven new advisers overseeing more than $800 million in combined client assets.

HighTower Advisors, a firm that is expanding by poaching financial advisers from the big brokerages, said on Monday it hired a private banking team from Merrill Lynch managing more than $1 billion of client assets.

Interest rates on most Treasury bills fell on Monday after a tentative deal among top Washington lawmakers to raise the debt ceiling soothed anxiety of a sovereign debt default.

More than a dozen traders have quit Goldman Sachs Group Inc's (GS.N) North American government bonds and derivatives trading desk in New York in recent months as the bank takes fewer risks and big bonuses for ambitious traders dry up.

Fear the United States will lose its AAA credit rating or even default on its debt is driving foreigners away from U.S. assets, and the dollar is taking the biggest hit.

Dunkin' Brands (DNKN.O) has raised $422.75 million after pricing its IPO at $19 per share, well above the range set by underwriters, signaling strong demand for this week's biggest deal.

President Barack Obama's Democrats and their Republican rivals were further apart than ever on Tuesday in an impasse over the government's debt limit as investors braced for a looming default and downgrade.

President Barack Obama's Democrats and their Republican rivals were further apart than ever on Tuesday in an impasse over America's debt limit as Wall Street braced for a looming U.S. default and credit downgrade.

Global sovereign wealth funds are set to hasten investing the billions of dollars of cash holdings they have built up in a rebound from the 2008 financial crisis that has lifted their combined assets to a record.

Policymakers worldwide oscillated between hope and confidence on Monday that U.S. lawmakers will break a debt impasse that threatens to trigger a default and up-end global financial markets.

A sharply divided Congress pursued rival budget plans on Monday that appeared unlikely to win broad support, pushing the United States closer to a ratings downgrade and debt default that would send shockwaves through global markets.

Senior executives at Morgan Stanley expressed impatience with the profitability of the company's retail brokerage business on Thursday, despite reporting progress in the unit's joint venture with Citigroup's Smith Barney.

Social coupon network LivingSocial has selected three banks to leads its IPO.

The top after-market NASDAQ Stock Market gainers are: PAETEC Holding, SIGA Technologies, MYR Group, Zalicus, and Maiden Holdings. The top after-market NASDAQ Stock Market losers are: DragonWave, Quidel, Abaxis, BJ's Restaurants, and Signature Bank.

Zynga Inc, developer of popular Facebook games like FarmVille and Mafia Wars, is all set to hit the capital market with an initial public offer (IPO). The company filed with regulators for an IPO of up to $1 billion on Friday, hopping that its close ties with Facebook will be a key to its future success.

Next version of Samsung Galaxy S2 pitted directly against Apple iPhone 5

The top after-market NASDAQ Stock Market gainers are: SIGA Technologies, Sky-mobi, Northwest Bancshares, Shanda Games, and Cytori Therapeutics. The top after-market NASDAQ Stock Market losers are: Life Partners Holdings, Achillion Pharmaceuticals, China Recycling Energy, Zhongpin, and SciClone Pharmaceuticals.

A Chinese-language commercial Times quoted Dan Heyler, a semiconductor analyst with Merrill Lynch in Taipei hinting the upcoming arrival of iPhone 6 in 2012.

Some companies will win, some companies will lose as growth slows in the American economy and inflation rises. Here's a list of five winners, and five losers.

The top after-market NASDAQ Stock Market gainers are: AeroVironment, Asia Entertainment & Resources, A-Power Energy Generation Systems, Globus Maritime, and Merge Healthcare. The top after-market NASDAQ Stock Market losers are: NuVasive, Adobe Systems, Atmel, Globe Specialty Metals, Altera, Research In Motion, and Apple.