Fears Rise That Plunging Stocks Could Pose Risk to Economy if volatility continues
Major U.S. stock indexes plummeted Friday after a worldwide sell-off overnight triggered by another slide in oil prices, raising concerns about possible spillover effects on the nation’s still-recovering economy. The Dow Jones industrial average closed down 391 points, or about 2.4 percent, to 15,988.08, a level it had not been at since August. The Dow was down more than 500 points before recovering somewhat. The Standard &...
Jobs Data Ups Odds Of Hike
The U.S. job market has almost fully healed from the deep wounds of the Great Recession, raising expectations that the Federal Reserve will begin withdrawing its support for the recovery by the end of the year. Government data released Friday showed that the economy added a blockbuster 271,000 jobs in October — the highest amount this year and beyond analysts’ most optimistic forecasts. The unemployment rate dipped to 5 percent, and...
