The Dow Jones industrial average plunged 334 points as falling energy stocks and worries about the global economy sent investors fleeing out of the market. The blue-chip index rose 275 points the day before.
Former Federal Reserve Chairman Ben Bernanke testified in federal court Thursday that insurance giant American International Group Inc. had to be rescued by the government in 2008 to avert global catastrophe.
Former top regulator Timothy Geithner defended terms of the U.S. government's bailout of American International Group Inc., saying Wednesday that the insurance giant's exceptionally risky behavior had caused losses that called for strict treatment.
Shares of J.C. Penney Co. fell more than 10 percent after the department store operator warned that its sales last month were weaker than expected and cut its outlook for a key sales measure for the current quarter.
Federal Reserve officials, worried about weak growth overseas, agreed last month that they would begin raising interest rates only when measures of the economy’s health and inflation signaled the time was right.
Wall Street had its best day of the year.
Wal-Mart Stores Inc. plans to eliminate health insurance coverage for some of its part-time U.S. employees in a move aimed at controlling rising health care costs of the nation’s largest private employer.
Wal-Mart is taking one-stop shopping to another area: health insurance.
The International Monetary Fund slightly lowered its outlook for global economic growth this year and next, mostly because of weaker expansions in Japan, Latin America and Europe.
Worries about weakening global growth drove the stock market lower Tuesday.
A surge in hiring last month helped drive the nation’s unemployment rate down to a six-year low of 5.9 percent — within striking distance of what economists consider a healthy level.
Orders to U.S. factories fell in August by the largest amount on record, but the drop was heavily weighed by an expected plunge in volatile aircraft orders.
A huge cyberattack against JPMorgan Chase & Co. this summer has compromised customer information for about 76 million households and 7 million small businesses, the bank said Thursday.
A New Jersey high-frequency trader is facing charges for allegedly manipulating commodities prices by issuing false signals to the market and then profiting off them using software that executes trades within milliseconds, federal prosecutors announced Thursday, in what they described as a first-of-its-kind prosecution.
It was a rough start to October for financial markets Wednesday, with the Dow Jones industrial average dropping more than 200 points as investors reacted to a round of negative economic news in the U.S. and abroad.