USA UK and Malta News
08/10/2008 - 20:20

USA Today Editoweb 8 october 2008

Stocks fluctuate despite emergency rate cut - Saudi stock market rebounds after rate cut - Stocks rise on bargain hunting.

Stocks fluctuate despite emergency rate cut

Wall Street zigzagged Wednesday as an emergency interest rate cut failed to alleviate investors' fears that the paralysis in the credit markets will set off a global recession. The major indexes moved in and out of positive territory, with the Dow Jones industrials at times falling more than 200 points or rising more than 100.

Saudi stock market rebounds after rate cut

Arab shares tumbled for the fourth day running on Wednesday but the Saudi bourse, the region's largest, rebounded after an international rate cut while the Egyptian market made up some ground.

Stocks rise on bargain hunting

Stocks rose on Wednesday as investors scoured for bargains after five straight sessions of losses, but trading was extremely volatile on fears the coordinated interest rate cuts by central banks around the world would not be enough to contain the credit crisis.

'Better days ahead' despite economic nightmare : Obama

Barack Obama told Americans Wednesday "there are better days ahead" despite plummeting global stock markets, rising job losses and dark clouds of economic gloom.

Central banks unleash rate cut offensive against finance turmoil

Major central banks launched coordinated interest rate cuts on Wednesday in a new gamble to counter the global financial crisis but failed to quell panic on global stock markets.

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