NEW YORK — The Nasdaq composite index shot 2 percent higher Wednesday, powered by a surge in Apple. The iPhone maker’s stock climbed $50 after the company once again blew past Wall Street’s profit forecasts.
Europe is economically big — very big. The 17 nation euro-zone is approximately equal to the size of the U.S. economy (depending upon how valuations are calculated in terms of currency conversions), and the more comprehensive 27 nation European Union (EU) is even bigger still. Given the tremendous economic interdependencies among countries of the world, when an economy as large as either of the above entities begins to experience significant economic problems, it is just a matter of time until those difficulties will be transmitted to the rest of the world.
FRANKFURT, Germany — Europe’s plan to fix its debt crisis by imposing budget cuts frayed Monday. Heavy selling rocked financial markets, uncertainty gripped two governments, and the economic outlook darkened across the continent.
NEW YORK — The stock market suffered its worst loss of the year Tuesday because of uncertainty about coming corporate earnings reports and concerns that the borrowing costs of Spain are creeping close to a crisis level.
As quickly as possible people should move to their home’s storm cellar or place themselves in the bathtub with a mattress on top so as to shield themselves from the rapidly approaching economic storm. Or so the message would seem to be, according to many economists, after the Labor Department’s “disappointing” labor market reports last Friday. Fortunately, the stock market was closed for Good Friday observances so the ensuing panic was stalled for a few days.
BALTIMORE — Two public school teachers and a school administrator who call themselves “The Three Amigos” are sharing part of last month’s record Mega Millions jackpot, planning for trips to Europe, new homes and their children’s college funds, Maryland Lottery officials said Tuesday.
Saturn has returned to our central Ohio sky at last. No astronomical sight is more breathtaking, even in a small telescope, than Saturn’s celestial hat brim. Around 10 p.m., look for the ringed planet low in the southeastern sky as a yellow point of light.
WASHINGTON — The managing director of the International Monetary Fund called on the world’s developed nations on Tuesday to “increase our firepower” to better confront global financial strains like those now in play in Greece and several other Eurozone nations.