Recession Fears Renewed as Wall Street Dives (HPQ, YUM)

For the fourth straight day, Wall Street fells, this time getting slammed by extreme investor sell-offs. The Federal Reserve’s plan to sell short and buy long on treasury bonds, in an attempt to reduce long term expenses, was met with disgust by stock investors. Markets fell dramatically, raising fears of another recession once again. In corporate news, HP (HPQ) fired their CEO, as rumored yesterday, after just 11 months on the job. Yum Brands (YUM) sold two chains to two different buyers, getting rid of A&W and Long John Silver’s.

Word on the Street

• Stocks slammed as investors disagree with Fed’s push to curb long term expenses, spur economy.
• Treasury bonds see highest daily increase since 2008.
• HP (HPQ) dumps CEO Apotheker and replaces with Meg Whitman.
• Toys R Us plans to add 40,000 holiday jobs this season.
• Yum Brands (YUM) sells A&W and Long John Silver in two separate deals.
• Sears Holdings (SHLD) sees rough waters ahead based on economic headwinds.

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