Trading Markets

Stocks Decline, Merrill Lynch Worries Investors

The Dow and S&P 500 are lower on Friday, adding to yesterday’s steep decline. Markets in Asia fell overnight, and the selling continued during the European session, as credit concerns rippled across the world’s financial system.

Stocks Tumble on Credit Worries

Stocks tumbled on Thursday, with credit worries returning to the fore. After cutting interest rates by 25 basis points yesterday, the Fed pumped $41 billion into the financial system today.

Stocks Rise Ahead of Fed Decision

Stocks are higher on Wednesday, after economic data showed U.S. GDP rose by 3.9% in the third-quarter, and ahead of the Fed’s decision on interest rates.

Fed Cuts Rates, Stocks Close Higher

Stocks closed higher on Wednesday, as the Federal Reserve cut interest rates by 25 basis points. The markets initial reaction to the Fed’s decision saw the Dow completely erase an 80-point gain, before a strong ensuing rally.

Stocks Close Lower, Fed in Focus

Stocks closed lower, ahead of the Fed’s decision on interest rates. However, the top story on Wall Street today was the resignation of Merrill Lynch Chairman and CEO Stan O’Neal.