Oil prices extended declines on Tuesday, sliding toward $38 on growing economic worries after U.S. stocks slumped to a 12-year low at the previous day's close.
Wall Street shares tumbled on Monday as optimism over reports that the U.S. government could take a bigger stake in Citigroup gave way to fresh questions about whether Washington is doing enough to stabilize the ailing banking...
Wall Street slumped to a 12-year low on Monday as investors lost faith that the U.S. government will be able to stabilize the financial system.
The S&P 500 and the Dow both posted their lowest closes since the spring of 1997 as reports the government may convert its stake in Citigroup into a big common stock holding fell short of what many see as necessary to fix big banks.
It is generally...
JPMorgan Chase & Co , the second-largest U.S. bank, slashed its common stock dividend 87 percent on Monday, a surprise move by a lender considered among the strongest in the U.S. financial sector.
The bank also said it has been solidly profitable this quarter, and that the outlook for the three-month period is roughly in line with analyst forecasts. Shares rose 5.5 percen...
JPMorgan Chase & Co, the second-largest U.S. bank, slashed its common stock dividend 87 percent on Monday, a surprise move by a lender considered among the strongest in the U.S. financial sector.
namely, to help stabilize the banking system and economy.
The bank said it hopes to return to a more normalized dividend as soon as feasible once the environment stabilizes.
Bank of America Corp and Citigroup Inc , JPMorgan's largest rivals, have slashed their dividends to a penny per share since November.
Shares of JPMorgan fell 30 cents to $19.21 in after-hour...
Wall Street slumped to a 12-year low on Monday as investors lost faith that the U.S. government will be able to stabilize the financial system.
The S&P 500 and the Dow both posted their lowest closes since the spring of 1997 as reports the government may convert its stake in Citigroup into a big common stock holding fell short of what many see as necessary to fix big banks.
It is generally...
Even if the government took a large common equity stake in Citigroup Inc, worries would likely persist about the bank's ability to absorb soaring losses in a deepening recession.
The third-largest U.S. bank by assets is in talks with federal regulators on a plan for the government to increase its stake, a person familiar with the matter said. Converting $45 billion of preferred stock, which the ...
American Express Co., battered by mounting credit card losses, is offering $300 to a limited number of U.S. card holders who pay off their balances and close their accounts, the company said on Monday.
The Dow Jones industrial average fell to an 11-year low on Monday as investors dumped shares on uncertainty about the latest potential U.S. government action to shore up beleaguered banks.
Making matters worse, worries about a fall-off in business and consumer spending on technology hurt the biggest names in the tech sector. IBM and Hewlett-Packard were the top drags o...
Stocks slid on Monday, sending the Dow Jones industrial average to its lowest in more than 11 years, as uncertainty about the government's latest bid to shore up ailing banks, including Citigroup , diminished the appetite for riskier assets.
A sell-off in technology shares added to the negative tone amid concerns about declining business and consumer spending.
The S&P 500 broke b...
Even if the government takes a large common equity stake in Citigroup Inc, worries are likely to persist about the bank's ability to absorb soaring losses in a deepening recession.
U.S. regulators including the Treasury and Federal Reserve issued a joint statement saying the government stands firmly behind the banking system and said the government would ensure the banks had enough capital and liquidity to provide credit needed for economic growth.
There was a time when a tumble below $10 in the share price of a company in the Dow Jones industrial average meant ignominy.
U.S. stocks fell on Monday due to uncertainty about the likely success of the government's latest bid to shore up beleaguered banks, including Citigroup , and a drop in technology shares pulled indexes lower.
Initially, investors welcomed reports that the government could convert an earlier investment in Citigroup into a larger common stock holding as a sign the United States is ready...
U.S. agencies detailed financial rescue plans on Monday and insisted they did not want to nationalize banks as investors fretted over how struggling firms will cope with rising recession-driven losses.
Stocks retreated on Monday and the S&P briefly fell more than 1 percent as financials relinquished earlier gains fueled by reports Citigroup is in talks to give the U.S. government a larger stake.
Stocks retreated on Monday and the Nasdaq fell more than 1 percent as a sell-off in technology shares overshadowed gains in banks after reports that Washington could end up with a big stake in Citigroup common stock.
Large-cap technology companies led the Nasdaq lower, including Apple , which fell more than 2 percent. The declines reversed an earlier bounce fueled by gai...
The Dow and the S&P 500 stock indexes rose on Monday as investors took reports that Washington could convert its holding in Citigroup to a larger stake as a sign that it is ready to forestall further paralysis of the financial system.
But with investors snapping up beaten-down financial shares, money moved out of the technology sector, causing the Nasdaq to drift into negative ter...
Stocks trimmed gains shortly after the open on Monday as declines in technology shares offset a bounce in financials on reports that Washington could end up with a big stake in Citigroup common stock.
Citigroup Inc is in talks to give the U.S. government a larger stake, a person familiar with the matter said, while The Wall Street Journal said Washington may end up holding as much as ...
Stocks rose on Monday on reports that Washington could end up with a big stake in Citigroup's common stock as the surest sign yet that it is ready to avert further paralysis of the financial system.
A report in the Wall Street Journal said the U.S. government may end up holding as much as 40 percent of Citigroup's common stock.
The Dow Jones industrial average rose 57....
Stocks headed for higher open on Monday as investors took reports that Washington could take a bigger stake in Citigroup as the surest sign yet that it is ready to avert further paralysis of the financial system.
A report in the Wall Street Journal said the U.S. government may end up holding as much as 40 percent of Citigroup's common stock.
Last week shares of Citigroup and Bank of...
Stocks headed for higher open on Monday as investors took reports that Washington could take a bigger stake in Citigroup as the surest sign yet that is ready to avert further paralysis of the financial system.
A report in the Wall Street Journal said the U.S. government may end up holding as much as 40 percent of Citigroup's common stock.
Last week shares of Citigroup and Bank of A...
