Banks take big hits in the stock market today as the investment world waits on the Slovakian euro-zone bailout vote.
Dexia becomes the first European bank to receive a bailout amidst the European debt crisis.
With the possibility of a Grecian default looming, chaos is growing within the worldwide market.
September begins with unemployment rate and treasury levels similar to August.
The FOMC announced that it will keep its benchmark interest rate at record lows through mid 2013. After the announcment the stock market quickly rebounded from the previous day’s huge losses. Today we are higher from yesterday’s close as fears over slowing economic growth is supporting Treasuries and mortgages.
Stocks are expected to open lower today following a massive 8.9 magnitude earthquake and tsunami in Japan which also triggered a selloff in Asian and European stocks. In economic news, the retail sales report showed an increase of one percent last month.