Investors fled stocks on Monday in the first session since Standard & Poor's cut the United States' perfect AAA credit rating, reflecting growing discouragement about the economic outlook and Washington's ability to meet the challenges.
Bank of America's stock tumbled Monday, down 16 percent as investors reacted to a lawsuit filed against the bank by AIG.
U.S. National Oceanic and Atmospheric Administration predicted four "extreme" solar emissions which could threaten the Earth this decade, and with solar flare activity expected to peak around 2013, the Sun is entering a particularly active time and big flares like recent one will likely be common during the next few years, federal scientists say.
Some investors, who were already jittery about the European debt crisis, and continued bad news on the US economic front, appear to have thrown in the towel.
A majority of states do not approve of President Barack Obama's performance and his national approval rating is hovering just below 50 percent, according to a new Gallup Poll.
Mauritius is cutting its foreign reserve exposure to the U.S. dollar and the euro due to debt concerns in both regions by purchasing commodity currencies and is eyeing government securities from some of the BRIC nations, it said on Monday.
The Kenyan shilling extended its tumble to touch a new record low of 93.58 against the dollar on Monday, while the benchmark share index fell 2 percent as the global sell-off of emerging and frontier assets hit local markets.
South Africa's Reserve Bank sees no reason at this stage to make any significant changes in the make up of its foreign currency reserves, the Bank said on Monday, after Nigeria and Mauritius announced plans to diversify their own holdings.
Gold vaulted to record highs above $1,700 an ounce on Monday, surging nearly 3 percent as European Central Bank's buying of Italian and Spanish bonds failed to ease debt fears after Standard & Poor's cut the top-notch AAA credit rating of the United States.
China's foreign minister was due to meet Sudanese President Omar Hassan al-Bashir on Monday for the highest-level talks between the two allies in the Sudanese capital since South Sudan seceded to form an independent state.
S.Africa's rand and stocks fell to multi-month lows on Monday as investors dumping risk hammered everything from resource firms to banks after the downgrade of the U.S. credit rating prompted a sell-off.
If, as a stock investor, you're a little jittery following Standard & Poor's downgrade of the U.S. Government's credit rating, you're not the only one. The stock market has tumbled, and more declines may be ahead. Even so, keep in mind that a good portion of the money made in stocks stems from not panicking.
President Robert Mugabe said on Monday Zimbabwe would punish firms from Western states who have slapped sanctions on senior officials in his ZANU-PF party, warning that global miners including Rio Tinto could be hit.
Trump believes the whole thing is a ?publicity stunt? by S&P.
A weekend contest at the world's largest hacking convention in Las Vegas showed one reason why big corporations seem to be such easy prey for cyber criminals: their workers are poorly trained in security.
For African-Americans, the unemployment rate is at a lofty 15.9 percent, almost double the 8.1 percent for whites.
Canada has options to deal with disruptions in the financial sector and is well positioned to cope with "global headwinds," Finance Minister Jim Flaherty said on Friday.
In 1986, Moody?s and Standard & Poor?s cut Australia?s debt rating, prompting the Canberra government to impose strict budget cuts.
Toronto's main stock market index sank more than 3 percent to its lowest point in nearly a year on Monday as a downgrade of the U.S. credit rating shook investor confidence globally and drove commodity prices sharply lower.
Stocks tumbled in heavy volume on Monday, with more than 1,000 stocks traded on the New York Stock Exchange hitting 52-week lows, after rating agency Standard & Poor's cut the United States' perfect AAA credit rating, rattling already jittery investors.
The U.S. downgrade drama heated up Monday, as stock markets domestically and abroad plunged. The end of the story hasn't been told, yet. But how it ends lies in the hand of the leading character -- U.S. President Barack Obama.
U.S. meat producer Tyson Foods Inc reported a lower quarterly profit due to higher feed costs for its chickens, while strong pork exports helped results beat estimates.
