Dow skids 600, worst day since credit crisis

The Dow closed down 634 points, the S&P 500 lost 79 points, and the Nasdaq ended 174 points lower. For every stock that rose at the New York Stock Exchange, more than 69 fell.

By JeeYeon Park, CNBC.com

Skip to next paragraph

Stocks took a sharp nosedive in another choppy day Monday to finish at session lows as investors fled from risky assets following S&P's downgrade of U.S.'s credit rating last week in addition to ongoing economic jitters.

The Dow Jones Industrial Average plunged 634.76 points, or 5.55 percent, to finish at 10,809.85, well-below the psychologically-significant 11,000 mark. The move marks the blue-chip index's biggest point and percent drop since Dec. 1, 2008.

BofA and Alcoa were the top laggards on the index.

The S&P 500 plummeted 79.92 points, or 6.66 percent, to close at 1,119.46, its lowest close since Sept. 10, 2010.

Nasdaq sank 174.72 points, or 6.90 percent, to end at 2,357.69, its lowest close since October 4, 2010.

August is already on track to be the worst month for the S&P and Nasdaq since Oct. 2008.

The CBOE Volatility Index, widely considered the best gauge of fear in the market, spiked above 40 to touch its highest level since Mar. 2009.

All 10 S&P sectors were lower, led by banks, energy and materials. Financials have plunged more than 20 percent this year.

?Once we took out Friday?s lows, it was like a trapdoor opened,? Art Cashin, director of floor operations at UBS Financial Services told CNBC. ?This is very heavy volume again and that tells me that we?ve got people liquidating to raise cash.

Moody's said while they are maintaining the U.S.'s AAA status, the agency said it has doubts over the long-term enforceability of the budget cuts already decided by Congress.

This comes after Standard & Poor's move to downgrade U.S.'s rating to AA-plus from AAA last Friday after a wild week for stocks?its worst in more than two years.

And in its latest move, S&P also lowered Fannie Mae, Freddie Mac and Federal Home Loan Bank's debt to AA-plus from AAA.

S&P came in for significant criticism from U.S. Treasury Secretary Timothy Geithner, who said the rating agency showed "terrible judgment" in lowering the U.S. government?s credit rating.

Meanwhile, President Obama said financial markets around the world "still believe our credit is AAA and the world's investors agree," although his speech did little to cheer up the market.

Meanwhile, S&P also revised Berkshire Hathaway's rating outlook to "negative" from "stable."

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/QR7AWV9BnBo/Dow-skids-600-worst-day-since-credit-crisis

blow sara bareilles spyware doctor cake boss gastritis cats crowne plaza

Source:

the new yorker young and the restless belgian malinois burj khalifa jamie lynn spears facade nhc

Source:

gina carano kristin cavallari nfl lockout news nfl lockout news watermelon watermelon obama

Source:

cm punk wiener walking dead season 2 walking dead season 2 pirates of the caribbean unc usa soccer

Does Your Marriage Need Relationship Help | Save Marriage

There are few marriages that do not need help in maintaining their relationship. A marriage without a good relationship is probably a marriage that is not going to last. If it does last, those involved are usually not very happy and content.

What is the difference between a marriage and a relationship, you might ask. A marriage is a bond formed by two people in holy matrimony; and in the eyes of man and the law they are united and only death or divorce can separate them.

A relationship is a meaningful feeling that is formed after marriage and will continue to grow and deepen as long as the marriage is maintained. Relationships should actually begin long before the wedding vows are given.

It is easy to tell if your marriage needs relationship help although others may notice it long before you. Tell tell signs include going to functions but going alone and offering excuses for the spouse not attending.

If you are together, you are constantly criticizing each other and complaining about numerous petty annoyances. Or, it can go to the other extreme and you sit with each other but never talk. No matter what the other does or talks about, it is boring and uninteresting.

Other signs of a declining relationship might be a dramatic lack of interest in the intimacy department. you are both young and attractive, yet the spark is not there anymore while you fantasize about others.

Affection from your relationship is not existent. There are no hugs, no kisses and no one says I love you. Human beings need to be touched to feel worthy, happy and satisfied. If the touching is gone then there is a serious problem with your marriage.

Jealousy can be a turn off for your partner if carried to extremes. For the person who is jealous he or she may withdraw from being intimate because they may view their partner as being unfaithful. For the person who is being accused of wrong doing, they could also hold back feelings being tired of the constant badgering of jealous questions.

Be sure you are not exaggerating the situation while establishing ground rules for both of you to abide by. If jealousy is a continuing problem and is growing, you should seek help. If intimacy is to return in your relationship, jealousy has to be curtailed.

Relationship problems can arise from debt. Lack of enough money in a marriage is always cause for concern but two people working together on a budget to live within their means can overcome a small income.

It is when one or both spend too much money and the marriage begins to drown in debt that the relationship also begins to sink. Debt can literally drain the life blood from a once loving relationship.

All marriages suffer day to day problems in their relationship. Conflicts and disagreements are common and should be expected. Just take a relationship inventory from time to time to determine if you and your spouse are where you want to be. If adjustments are necessary make them and move forward.

Tags: Affection, Does Your Marriage Need Relationship Help, Dramatic Lack, Eyes Of Man, Feelings, Good Relationship, Holy Matrimony, Human Beings, Intimacy, Jealousy, Kisses, Lack Of Interest, Marriage, Marriage Help, Marriage Need, Marriage Relationship, Marriage Relationships, Petty Annoyances, Relationship Help, To Extremes, Wedding Vows

Source: http://www.datingonlinesite.info/getexback/does-your-marriage-need-relationship-help/

chico legionnaires disease nordstrom green card lottery merriam webster anna paquin harry potter and the deathly hallows part 2 reviews

Fannie Mae loss widens; asking taxpayers for $2.8B (AP)

NEW YORK ? Government-controlled mortgage company Fannie Mae said Friday that its second-quarter loss widened as it continues to seek loan modifications to help reduce defaults amid the ongoing difficulties in the housing and mortgage markets.

Fannie Mae also made $2.3 billion in dividend payments to the U.S. Treasury during the period, which reduces the amount it will be asking taxpayers for to $2.8 billion from $5.1 billion.

Fannie's rescue has been one of the most expensive government bailouts. The amount of money it has received from the Treasury to stay afloat is set to rise to $104.8 billion when accounting for the latest request. Fannie has paid back $14.7 billion to the Treasury in dividends as of the end of June.

Fannie Mae, based in Washington, D.C., and sibling Freddie Mac, based in McLean, Va., were created by Congress to buy mortgages from lenders and package them into bonds that are resold to global investors.

They own or guarantee about half of all mortgages in the U.S., or nearly 31 million home loans worth more than $5 trillion. Along with other federal agencies, they backed nearly 90 percent of new mortgages over the past year.

The government took over the companies in September 2008 after massive losses on risky mortgage bonds threatened to topple them. The government then put them into conservatorship, a legal arrangement under which the companies' government regulator controls their financial decisions.

In the second quarter ended June 30, Fannie Mae lost $5.18 billion, or 90 cents per share. That compares with a loss of $3.13 billion, or 55 cents per share, a year earlier.

Revenue climbed 16 percent to $5.24 billion from $4.5 billion.

Net interest income, or money earned from deposits and loans, increased 18 percent to $4.97 billion from $4.21 billion.

The quarter included $6.1 billion in credit-related expenses tied to the company's pre-2009 book of loans. Fannie anticipates future loan defaults and related charge-offs tied to this book of business will occur over several years. But there is a bright spot, as these loans are becoming a smaller percentage of its guaranty book of business, declining to 34 percent at quarter's end as compared with 39 percent of its guaranty book of business as of Dec. 31, 2010.

The problem with many of the loans from the pre-2009 book of business is that they were obtained when home prices were rising and people thought they could afford the mortgages that came with them. Home prices peaked during the third quarter of 2006, Fannie said.

Since that time the U.S. economy has fought to regain its footing after a recession. This economic uncertainty, combined with high unemployment levels and low levels of consumer confidence, has pushed home prices down. Many homeowners now struggle to pay for their mortgages, while others feel stuck in their homes due to the supply that's on the market.

Fannie Mae said Friday that it aims to lower its credit losses while keeping as many families as possible in their homes and protecting property values.

"We remain the largest source of liquidity for the U.S. mortgage market, and we are committed to creating long-term value by helping to build a stable, sustainable housing market for the future," President and CEO Michael J. Williams said in a statement.

Fannie completed more than 80,000 single-family loan workouts in the quarter, with more than 59,000 of them involving loan modifications, repayment plans and forbearances.

The single-family foreclosure rate of 1.20 percent on an annualized basis was less than the 1.52 percent from a year ago. But Fannie said that it is taking more time to cycle through foreclosures, which is increasing its credit-related expenses and hurting its single-family serious delinquency rates. The company predicts these delays will hurt the overall recovery of the housing market because it will take more time to get rid of the distressed home supply that is out there.

Fannie Mae said 47 percent of its new single-family book of business includes loans bought or guaranteed since the start of 2009. The company anticipates loans acquired in 2009, 2010 and the first half of this year will be profitable over their lifetime, but said it is still too early to tell what will happen.

Its shares slipped a penny to 30 cents in morning trading Friday.

Source: http://us.rd.yahoo.com/dailynews/rss/personalfinance/*http%3A//news.yahoo.com/s/ap/20110805/ap_on_bi_ge/us_earns_fannie_mae

cloud computing craigs list jersey shore season 4 the hunger games rupert murdoch news corp caroline wozniacki

Advertisement:

We were unable to forward you to the advertisement you clicked on.

The likely cause for this is that your browser, feed reader, or email application is configured to not accept cookies, or your reader may launch an external browser to view links without sharing cookies.

• If you're using Internet Explorer, make sure your privacy setting is at medium or below.
  • Select 'Internet Options' from the 'Tools' menu in your browser window
  • Click the Privacy tab
  • Adjust your privacy setting if necessary
    ?
• If you're using a reader that embeds Internet Explorer (examples: Microsoft Outlook, Outlook Express, Feed Demon), you'll also need to select Internet Explorer as your default web browser.
  • Open Internet Explorer
  • Select 'Internet Options' from the 'Tools' menu in your browser window
  • Click the 'Programs' tab and check the box for Internet Explorer to check if it is the default browser and save your change
  • Close your browser, re-open it, and when prompted, select Internet Explorer as your default
  • You can then click on an ad in your newsletter and visit the site you wish to view

Source: http://ads.pheedo.com/click.phdo?s=86cd7397576ad832f0906855a5caf52d&p=4

gout symptoms erin andrews erin andrews swing map of usa map of usa kenny powers