Stocks bounced back yesterday, with the Dow up 423 points after a very unstable week. The dizzying fluctuations in the stock market have left many Americans wondering about their financial futures and the value of their 401Ks.
Today on American Morning, Shawn Tully, senior editor-at-large for Fortune magazine, weighs in on why he thinks that stocks are behaving this way and explains where he thinks the market is headed.
Following Standard & Poor's Friday downgrade of the United States' credit rating, Wall Street had its worst day yesterday since the 2008 recession.
U.S. stocks have fallen 15% during the past two weeks and Monday's beating was the most brutal thus far, amounting to a paper loss of about $1 trillion.
Jim Awad, managing director for Zephyr Management, discusses the state of the markets with Ali Velshi on American Morning today.
Politicians in Washington seemed no closer to reaching a deal on raising the debt ceiling and trimming the budget deficit yesterday, sparking a recent sell-off in the market and causing stocks to drop as worries continue to increase that a solution will not be reached by August 2nd.
For average Americans worried about their investments and their 401k, this situation is bringing back frightening reminders of 2008.
Today on American Morning, Leigh Gallagher, assistant managing editor for Fortune Magazine, joins Ali Velshi to break down what you can do protect your personal finances if the U.S. defaults on its debt.
In a televised prime-time speech last night, President Obama warned that with no clear resolution in sight in Congress, the U.S. is moving closer to a default that could deeply damage the economy.
With only seven days left until the country's August 2nd deadline to raise the debt ceiling, many are concerned with how Wall Street will be affected by a default both now and in the long term.
Today on American Morning, Politico's Wall Street reporter Ben White weighs in on how the debt ceiling negotiations are impacting both the U.S. economy and the global markets.