Latest Financial services News

Trade war's losers could include microchips, energy, banks

Aug. 18, 2019 11:58 AM EDT

NEW YORK (AP) — Looking across the stock market, it's hard to find a company that isn't vulnerable in some degree to the U.S.-China trade war. Stocks of companies that do lots of business with China, such as chipmakers and other technology companies, are obvious candidates for investors to sell when trade...

Stock market gyrates as the economic picture gets blurred

Aug. 17, 2019 11:23 AM EDT

You're not the only one confused about where the economy is headed. Just look at the stock market, where perplexed investors have been sending stocks on a wild ride in August. And there could be plenty more where that came from. Two notoriously volatile months for stocks lie just ahead. Stocks around the world...

Signs of recession worry Trump ahead of 2020

Aug. 17, 2019 6:29 AM EDT

WASHINGTON (AP) — President Donald Trump is warning of an economic crash if he loses reelection, arguing that even voters who personally dislike him should base their ballots on the nation's strong growth and low unemployment rate. But privately, Trump is growing increasingly worried the economy won't look...

US stocks end turbulent week with broad gains

Aug. 16, 2019 5:24 PM EDT

You're not the only one confused about where the economy is headed. Just look at the stock market, where perplexed investors have been sending stocks on a wild ride in August. And there could be plenty more where that came from. Two notoriously volatile months for stocks lie just ahead. Stocks around the world...

Markets Right Now: Stocks end turbulent week broadly higher

Aug. 16, 2019 4:09 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Stocks ended a wild week with solid gains, but not enough to prevent major indexes from logging their third weekly losses in a row. Technology companies and banks did the most to pull the market higher Friday. Traders...

Bank of Mexico lowers interest rate, citing global concerns

Aug. 15, 2019 5:42 PM EDT

MEXICO CITY (AP) — Mexico's central bank said Thursday it was lowering its benchmark interest rate by a quarter-point to 8%, citing slowing global economic activity and tensions including the trade war between the United States and China. The drop from 8.25% was reportedly the first rate cut by the Bank of...

US long-term mortgage rates stay near historic lows

Aug. 15, 2019 12:43 PM EDT

WASHINGTON (AP) — U.S. long-term mortgage rates remained near historically low levels this week against a backdrop of volatile financial markets around the globe. Mortgage buyer Freddie Mac said Thursday the average rate on the benchmark 30-year loan was unchanged at 3.60%, its lowest level since November...

Russian court puts French investor under house arrests

Aug. 15, 2019 11:40 AM EDT

MOSCOW (AP) — A Moscow court has put a jailed French investor under house arrest. The Moscow City Court ruled on Thursday to place Philippe Delpal, partner at the Moscow-based private equity firm Baring Vostok, under house arrest, more than six months after he was first detained and sent to jail. Delpal...

Asian stocks lower after US indexes tumble on recession fear

Aug. 15, 2019 12:35 AM EDT

BEIJING (AP) — Asian stock markets followed Wall Street lower on Thursday after the Dow Jones Industrial Average plunged on mounting fears of a possible recession. Market benchmarks in Shanghai, Tokyo and Hong Kong all retreated. U.S. investors dumped stocks, sending the Dow into its biggest one-day drop...

The bond market smells recession as global stress rises

Aug. 14, 2019 3:23 PM EDT

NEW YORK (AP) — Compared to the free-swinging and sometimes emotional stock market, the bond market is supposed to be the sober and measured one. It's getting more alarmed. Bonds sounded their loudest warning bell yet of recession on Wednesday, when the yield on the 10-year Treasury briefly fell below the...