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: Texas Lawyer Blog

Note that the Fed Rate Cut did not Prevent Stock Drop

By J. Michael McBride

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The market fell today 450 points and has since recovered to a drop of 250, but this activity is after the Federal Reserve cut rates in an emergency action not taken since just after the Sept. 11 attacks. "U.S. markets joined stock exchanges around the globe that fell precipitously in recent days amid concerns that a downturn might spread around the world. U.S. bonds were mixed, with investors seeking safer investments as stocks plummeted. The price of oil, meanwhile, fell amid expectations that read more

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Full post as published by Texas Lawyer Blog on January 22, 2008 (boomark / email).

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