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.
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.
NEW YORK — The stock market cleared another barrier Thursday in its long recovery from the Great Recession: The Standard & Poor’s 500 index closed above 1,400 for the first time since June 2008.
Despite spending 12 years in Washington, D.C. as a congressman, U.S. Rep. Pat Tiberi (R-Genoa Township) feels as though he has plenty of work left to do.
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.
BERLIN — European nations were pressed Tuesday by a credit downgrade threat and the U.S. Treasury chief to deliver on markets’ huge hopes for a solution to the 2-year-old financial crisis engulfing the continent. Germany and France downplayed Standard & Poor’s warnings to downgrade 15 eurozone nations and Europe’s bailout fund. But a downgrade of their AAA ratings would complicate their efforts to restore investor confidence in Europe.
PARIS (AP) — Seeking to restore confidence in the euro, the leaders of France and Germany jointly have called for changes to the European Union treaty so that countries using the euro would face automatic penalties if budget deficits ran too high.