North American markets pummelled
Congress's rejection of U.S. bailout plan leads to staggering losses
- By: Megan Harman
- September 29, 2008 September 29, 2008
- 16:29
Congress's rejection of U.S. bailout plan leads to staggering losses
Analysts and insiders expect central banks to inject liquidity and cut rates in an effort to prevent credit from drying up
The drivers of Ontario’s past success are long gone; it’s now time for the province to set its sights on a new type of prosperity
But the proposed bill is more limited than the one originally drafted as it provides more oversight and limits on executive compensation
Legislation is expected to restore flow of credit to households and businesses
Selloff continues as banking problems persist
Sees more than 1 million exchange trades for four days in a row
Current market more difficult than “even the most bearish” predictions
But with a fundamentally stronger mortgage regime, the downturn will not be as severe as that of the U.S.
New market cap-weighted index designed to track the companies traded on the Nasdaq OMX Europe marketplace also launched
The operations are intended to address funding pressures over quarter end
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But U.S. markets fared much better as negotiations for the U.S. bailout plan continue
There would be downside for equities, cyclical commodities, commodity-linked currencies and financial sector bonds if no deal is reached
Uncertainty regarding U.S. bailout plan still weighing on investors
U.S. markets surge on news that an agreement for the US$700-billion bailout has been reached
However, there are still concerns of how successful it will be — and what it will cost in the long run
Bank of Canada governor stresses that global markets are at a critical juncture
The two banks have the most favourable internal rates of return in a “no premium deal and a capital outlay”
The international organization says rebuilding investor confidence is vital to helping the economy get back on track
U.S. President Bush’s plea to have the bailout adopted is giving investors confidence
U.S. markets also take a fall on continuing uncertainty about the U.S. financial market
The situation is mirroring, and even surpassing, that of the U.S. and Britain of the past few years
Although its concerns aren’t insurmountable, it will require some careful crafting of the enabling legislation
U.S. Treasury secretary Henry Paulson and Federal Reserve Board chairman Ben Bernanke will continue to plead their case to congress on the U.S. US$700-billion bailout…