Forex Currency Trading

Just when Wall Street seemed to have settled down, a barrage of bad economic reports collided with fresh worries about European banks Thursday and triggered a global sell-off in stocks.

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What a difference a month — and a brewing financial crisis — makes.

In early July, Moody’s economist Mark Zandi told The Daily Ticker the U.S. economy was poised to "reaccelerate," predicting GDP growth close to 3% growth in the third quarter and approaching 4% in the fourth.

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The stock market once again proved it can be an incredibly unforgiving and swiftly punishing place, as a two-week long downturn was given new fuel by Standard & Poor’s decision last Friday to downgrade the U.S. credit rating.

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U.S. stocks opened sharply lower Friday after the government said businesses added the fewest jobs in June in more than a year. The unemployment rate rose to 9.2 percent.

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Fears that the global economic recovery has stalled pushed the Dow Jones industrial average below 12,000 for the first time since March and drove the stock market lower for the sixth straight week.

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