European central banks began buying euro zone government bonds under a $1 trillion global emergency rescue package agreed on Monday, sending the euro and European stocks and bonds surging on relieved markets.
A $1 trillion global emergency rescue package to stabilize the euro reversed the slide in world financial markets on Monday but left longer-term questions about whether Europe's weakest economies can manage their debt.
France and Germany completely agree on measures to be unveiled on Sunday by European Union finance ministers to help the crisis-hit euro zone, the French presidency said.
Euro zone leaders decided on Friday they have special measures ready before financial markets open on Monday to prevent financial turmoil in Greece spreading to other countries such as Spain and Portugal.
Euro zone leaders approved emergency loans for Greece on Friday and governments around the world tried to calm financial markets hit by fears that Athens' debt crisis could cause havoc in other European economies.
Governments around the world tried on Friday to calm financial markets shaken by fears that Greece's debt crisis could cause difficulties for other European economies.
Governments around the world sought on Friday to calm financial markets hit by fears that Greece's debt crisis could cause turmoil in other European economies.
Stocks worldwide plunged as fears about Greece's debt crisis went global, with investors seeing it as an omen of turmoil in other European economies and governments struggling to calm markets.
Stocks worldwide plunged as concerns about Greece's debt crisis went global, with investors seeing it as an omen of turmoil in other European economies and governments struggling to calm markets.
World stocks extended sharp falls on Friday while government bonds rose as a global rout triggered by fears of contagion from the euro zone debt crisis prompted investors to dump risky assets.
Shock waves from the relatively small Greek economy reverberated around the world, as investors worried about the chances of other European governments facing a similar debt crisis.
U.S. stocks were down more than 3 percent on Thursday afternoon after briefly nosediving, with the Nasdaq at one point down more than 9 percent and the S&P 500 and Dow briefly falling into negative territory for the year, as worries about contagion from Greece's debt problems mounted.
The Federal Reserve is closely watching for signs the European sovereign debt crisis could derail a fragile U.S. economic recovery, a top Fed official said on Thursday.
Stocks fell on Thursday after weaker-than-expected retail sales and as the European Central Bank stopped short of taking any additional measures to keep a debt crisis from spreading in the euro zone.
The European Central Bank resisted market pressure to ride to the rescue of struggling euro zone countries on Thursday, giving verbal support to Greece's tough savings plan but stopping short of any fresh action.
The Greek parliament prepared to adopt a harsh austerity plan in the face of violent unrest, as European Central Bank inaction disappointed markets fearful a debt crisis will engulf the euro zone.
U.S. stocks were lower on Thursday after weaker-than-expected retail sales and as the European Central Bank failed to offer additional measures to stop a debt crisis from engulfing the euro zone.
The Greek parliament prepared to adopt a harsh austerity plan on Thursday in the face of violent unrest, as markets looked to the European Central Bank to prevent a debt crisis engulfing the euro zone.
U.S. stock index futures pointed to a lower open on Thursday after weaker-than-expected retail sales and the European Central Bank left monetary policy unchanged, disappointing investors who hoped the ECB would prevent a debt crisis from engulfing the euro zone.
Euro zone policymakers and the head of the IMF warned of looming financial contagion on Wednesday unless a euro zone debt crisis is stopped in Greece, as nervous investors fled to the safe haven of the dollar.
Pending sales of previously owned homes hit a five-month high in March as buyers rushed to sign contracts before a tax credit expired, while a jump in factory orders underscored manufacturing strength.
Striking public workers challenged the Greek government's bailout-for-austerity deal with the EU and IMF on Tuesday as investors fretted about Athens' ability to push through ambitious budget cuts.
