MARKETS / FINANCE

Stocks tumbled 3 percent on Wednesday in the market's worst day since mid-August as a spike in Italian bond yields signaled the European debt crisis had worsened.

Stocks tumbled 3 percent on Wednesday in the market's worst day since mid-August as a spike in Italian bond yields signaled the European debt crisis had worsened.

Italian borrowing costs reached breaking point on Wednesday after Prime Minister Silvio Berlusconi's insistence on elections instead of an interim government threatened prolonged instability and kindled fears of a split in the euro zone.

Stocks tumbled 3 percent on Wednesday in the market's worst day since mid-August as a spike in Italian bond yields signaled the European debt crisis had worsened.

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Election Day 2011 will best be remembered for Democratic victories on ballot initiatives in Ohio and Mississippi, but another statement was made when the few states electing legislators and governors generally held on to incumbents and their parties.

Cisco Systems Inc is normally a turbulent stock after earnings, but the options market is not expecting a wild ride following its results after the close on Wednesday.

Gold prices slipped modestly Wednesday as stock investors in Europe and the U.S. dumped their holdings and abandoned the euro in a global stampede to safety.

Stocks tumbled 3 percent on Wednesday, erasing gains for the week so far, as a spike in Italian bond yields fanned worries about contagion in the European debt crisis.

First Majestic Silver Corp.'s third-quarter profit rose as higher silver prices lifted revenue 88 percent, offsetting a decline in silver produced, the Vancouver-based mining company said Wednesday.

Goldman Sachs Group Inc faces lawsuits over $15.8 billion worth of mortgage securities, the bank said in a regulatory filing on Wednesday, a more than 30-fold increase from the amount disclosed three months earlier.

AngloGold Ashanti , the world No. 3 gold miner, reported record-breaking quarterly earnings on Wednesday, beating forecasts as bullion's bull run filled its coffers.

An acceleration in the pace of U.S. economic growth in the second half of this year is expected to ebb as 2012 gets underway, although the odds of another recession have receded to one-in-four, a Reuters poll showed on Wednesday.

HSBC gave its starkest warning to date that new regulations might force it to leave Britain and said its U.S. bad debts had jumped as more homeowners stopped payments on their mortgages.

A one-day protest by communities in the northern region of Cajamarca on Wednesday against Newmont's $4.8 billion Conga gold project was peaceful and did not hurt mining operations, the government and the company said.

General Motors Co posted a third-quarter profit that fell 15 percent after a loss in Europe and disappointed investors with a forecast that closed the door on any improvement in the current quarter.

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The chief executive of AngloGold Ashanti said the world's No. 3 gold producer could employ deep-mining technology under development in South Africa in other countries, with future ore discoveries expected to be far below the surface.

Gold and silver mining company stocks rose Wednesday, defying a global downdraft in equities and underscoring the traditional role precious metals have as a safe haven for investors.

Stocks fell about 2 percent on Wednesday as a spike in Italian bond yields heightened fears the debt crisis in Europe was spreading.

Chinese industrial output grew at its weakest annual pace in a year in October and inflation fell sharply, raising expectations Beijing will do more to support economic growth by fine tuning policy.

Stocks dropped more than 2 percent in early trading on Wednesday as a spike in Italian bond yields prompted fears the region's debt crisis was spiraling.

One message from financial markets has become quite clear: attempts by the euro zone to ring-fence Greece and stop contagion to other, more significant economies has failed.

The transformation of Seattle's South Lake Union district stands as a metaphor for this city's emergence as what some would argue is the West Coast's second most important hub of technology and entrepreneurship.

The New York Stock Exchange and NYSE Amex Cash Markets on Wednesday invoked a rule to smooth trading at the market open as futures tumbled following a spike in Italian bond yields.

Germany's wise men panel of economic advisers warned the European Central Bank it risks losing credibility by buying the bonds of heavily-indebted euro zone states, and that monetary and fiscal policy are becoming worryingly blurred.

Silver Wheaton Corp.'s third-quarter profit doubled as the selling prices of gold and silver soared and sales volume jumped.

The Greek nation has had a vastly different history and trajectory from the dominant countries of Western Europe.