NEW YORK — The drop in a key interest rate to a 66-year low is a sign of one thing — fear. Traders don’t actually think a Treasury note paying 1.62 percent is a good investment. They just trust Uncle Sam to keep their money safe if Europe falls apart.
NEW YORK — A big final-hour comeback pulled the Dow Jones industrial average nearly back to where it started Wednesday.
In what now seems to be a weekly ritual, U.S. financial markets fluctuated throughout the past week based upon anticipated future economic and political developments. But as has become more and more common, it is not the potential outlook for our country that has memorized financial market participants, but rather that of the European Union’s 27 country confederation, or even more specifically, the euro-zone’s 17 member nations that utilize a common currency, the euro.
BRUSSELS (AP) — European leaders were wrestling Thursday over how much of their sovereignty they are willing to give up in a desperate attempt to save the ambitious project of continental unity that grew from the ashes of World War II.