Oil prices dropped for the third straight day in New York on Thursday, amid continuing worries about the stability of the eurozone and a stunning sell-off in the US financial markets.
Crude futures had nudged higher earlier in the day but headed south as the euro dropped under 1.27 dollars, reaching the lowest level since March 2009. Read more.
Stocks fell Tuesday on Wall Street as Greece’s debt problems and China’s economy again have investors concerned about economic growth.
Upbeat earnings and outlooks from the industrial giants DuPont, 3M and Ford have helped to moderate the losses. Strong first-quarter earnings have sent stocks higher in recent weeks. Read more.
Financial shares dragged the stock market lower Friday as investors worried that the government’s mortgage-related fraud charges against Goldman Sachs & Co. could mean intensified scrutiny for the industry.
The Securities and Exchange Commission accused the Wall Street powerhouse of failing to disclose conflicts of interest in selling certain mortgage investments that led to steep losses for clients. Goldman Sachs denied the allegations. Read more.
The stock market may be sitting near 18-month highs, and volatility has declined sharply, but that doesn’t mean investors aren’t worried about a downturn in the market.
Volatility has declined to a 22-month low, making it cheap for investors to bet on or hedge against a big drop in the market by buying S&P index put options as a hedge. Read more.