Economic Doubts Drag Down Stocks; Blackberry Reaches Deal to Go Private (BBRY, AAPL)
On Monday the markets struggled as uncertainty grew regarding the possible budget standoff in Washington. Many wonder what the Federal Reserve's next move will be, especially after announcing last week that the taper will not begin just yet. Financial stocks were hit hard today, including Citigroup (C) and Goldman Sachs (GS). Blackberry (BBRY) ended higher after announcing a deal worth $4.7 billion that will take the company private.Both Asian and European markets slipped today despite promising export data released in China. Angela Merkel won a historic victory in Germany and will begin her third term as German Chancellor. The US dollar ended mostly lower against major rivals on Fed remarks and economic worries.
Word on the Street
- Economic and budget concerns cause stocks to fall on Monday.
- General Electric (GE) signs $2.7 billion worth of contracts to supply power generation.
- It's official - Blackberry (BBRY) signs privatization bid for $9 a share.
- Asian shares fall flat ahead of Fed talk and despite positive data.
- Apple (AAPL) releases iTunes radio and causes Pandora (P) to drop.
- The Upcoming Convergence of the Healthcare, Tech and Sports Industries (CERN).
Published on Sep 23, 2013By InvestorGuide Staff