NEWSMAX: The Dow Jones Industrial Average plunged below the key psychological 12,000 level for the first time since March on Friday as fears spread that the global economic recovery is losing steam.
Meanwhile, a top Federal Reserve official warned that the pace of growth will remain “painfully slow” for many and the risks to recovery have increased.
Although financial conditions have improved and the pace of job creation has quickened in the last year, a recent run of disappointing data suggested the recovery is increasingly at risk, New York Federal Reserve President William Dudley said in a speech to business leaders in Brooklyn, N.Y… (more)
