Entries Tagged 'Market Crash' ↓
November 30th, 2009 — Arab, Crisis, Debt, Dubai, Market Crash, UAE
Stocks in the Persian Gulf state of Dubai fell more than 7% Monday, the first day of trading after the state’s debt problems shocked financial markets around the world last week.
The index for the Dubai Financial Market, the emirate’s primary stock exchange, ended the day down 7.3%.
The announcement last week raised fears about the overall health of the global financial system and made investors nervous across the globe. Concerns were eased slightly on Sunday after the United Arab Emirates (UAE) offerd Dubai some support.
The UAE, a federation of seven emirates announced that it will establish an emergency liquidity facility to help prevent Dubai from defaulting on its debts.
Fellow emirate Abu Dhabi also announced plans to provide aid to some selected Dubai banks and financial establishments.
Major indexes in Europe remained under pressure this afternoon, with shares in London, Paris and Frankfurt down about 1% in afternoon trading.
March 13th, 2009 — CNBC, Comedy Central, Economy, Market Crash, Pundits, Television
Jim Cramer went up against Comedy Central’s Jon Stewart last night, in an event billed as “Brawl Street: Get ready to buy low. And sell die!”
Watch this historic event:
March 7th, 2009 — Bankrupt, CNBC, Cut Dividend, Economy, Failed Company, GE, General Electric, Immelt, Market Crash, NBC, Stock Price
Lehman Brothers, Bear Stearns, Merrill Lynch, Citibank, AIG, Morgan Stanley, and now - General Electric.
GE’s stock, which had been trading around $17 a share a few months ago, dropped to under $6 this past week. Richard Hofmann, an industry analyst told the NY Times, “That’s a scary number for GE.”
On Thursday morning, Keith Sherin, GE’s CFO, appeared on CNBC, (which GE owns) and attempted to defend the company. He may have helped a little - the stock closed Friday at $7.66.
A former writer who has covered GE for Fortune Magazine pointed out to the Times that the last time GE cut a dividend was during the Great Depression, and that “If GE is in trouble, God help us all.”
[Read the full article]