WATCH: U.S. Stock Market Spotlights Global Economic Fears

StockBG_LW.jpgAll eyes were on the U.S. stock market Friday after two days of steep drops this week.

The G-20 nations are hoping a statement of financial resolve will calm market jitters across the globe.
The U.S. government is also trying to boost its markets and the economy, but the outlook is not encouraging.
The Dow Jones industrial average plunged 391 points on Thursday. At one point it was down by more than 500.
Part of the fear this week came from the Federal Reserve’s latest move. Their strategy — raise short-term interest rates to lower long-term ones.
But economists doubt the plan will do much since U.S. interest rates are already near record lows.
“The Fed didn’t really deliver this time around. They tried to alter the existing stimulus format instead of adding more money. Didn’t move interest rates all that much,” explained Dominic Chu of Bloomberg.
The markets’ negative attitude is also influenced by the gridlock in Congress. Lawmakers rejected a funding bill on Wednesday.
Source: CBN News | Heather Sells

http://downloads.cbn.com/cbnnewsplayer/cbnplayer.swf?aid=25667

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