Business

Another Rough Week

The hardships continue. The S&P, Dow, and Nasdaq all dropped at least 0.6% this past week. 1.42 million Americans filed for unemployment benefits this past week, accelerating for the first time in nearly four months. Market expectations were only at 1.30 million.

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Business

Tip of the Iceberg

Markets have been showing indications of another slowdown. Some of the largest banks, including Wells Fargo, JP Morgan, and Citigroup, have nearly doubled the amount of money set aside for corporate loans. This totals up to $33 billion. It has been revealed that the good news of second quarter gains was in reality due to banks collecting fees by helping companies stockpile their cash, not in helping companies in deals.

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