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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: tonto who wrote (89309)8/16/2010 10:27:30 AM
From: Hope Praytochange   of 224748
 
The Dow Jones Industrial Average shed 55 points in early trading as investors flocked to safer havens. The price of gold rose to its highest level in six weeks, while the yield on the benchmark 10-year Treasury note fell to its lowest level in more than a year.

Monday's early decline piled onto last week's losses. The Dow ended the week down 3.3% on Friday, and the Standard & Poor's 500-stock index gave back 3.8% as investors worried about the Federal Reserve's economic outlook and economic data from Asia.

Worries about the pace of growth in the U.S. were underscored Monday after New York manufacturing activity grew at a slightly better pace this month than in July, according to the Federal Reserve Bank of New York's Empire State Manufacturing Survey, but fell short of economists' expectations. The Empire State's business conditions index edged up to 7.10 in August from 5.08 in July, when economists had expected a reading of 8.5 in August. However, the report also showed a rebound in hiring this month and the index for employment rose to 14.29 from 7.94.

Fueling concerns about global growth, Japan's gross domestic product rose at an annualized pace of just 0.4% in real terms in the April-June quarter, far below the 2.3% growth expected by economists polled by Dow Jones Newswires. Japan's Nikkei Stock Average fell 0.6%.
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