01 Aug '11, 2pm

US stocks reverse course after opening surge: NEW YORK - US stocks turned negative on Monday after data showed t...

US stocks reverse course after opening surge: NEW YORK - US stocks turned negative on Monday after data showed t...

NEW YORK - US stocks turned negative on Monday after data showed the pace of growth in the manufacturing sector slowed more than expected in July and on concerns the country's credit rating may still be downgraded despite a last-ditch debt deal in Washington. The Dow Jones Industrial Average (DJIA) dropped 65.73 points or 0.54 percent to 12,077.51. The Standard & Poor's 500 Index lost 8.60 points or 0.67 percent to 1,283.68. The Nasdaq Composite Index fell 14.29 points or 0.52 percent to 2,742.09. Earlier Monday, the DJIA soared 93.54 points (0.77 percent) in the first 15 minutes of trading as investors welcomed an 11th-hour deal struck between President Barack Obama and top lawmakers on raising the government's debt ceiling. The deal announced late Sunday would raise the US government's US$14.29 debt ceiling by about US$2.4 trillion in two steps, while calling for roughly...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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US stocks tumble over 2% despite debt deal

US stocks tumble over 2% despite debt deal

channelnewsasia.com 02 Aug '11, 9pm

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channelnewsasia.com 21 Jul '11, 9pm

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channelnewsasia.com 08 Aug '11, 7am

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straitstimes.com 02 Aug '11, 2am

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