Stocks slump on news that Bank of America may be sued over bad mortgages. China's rate hike worries traders who've bet on the country's rapid economic growth. Gold and oil slump.
The big question: Will the rally continue? Watch for more deals. The Fed's Beige Book report will be closely studied. So will President Obama's stimulus proposals to boost the economy.
American employers shed 54,000 jobs in August, fewer than expected. The unemployment rate rises to 9.6%. Goldcorp will buy Andean Resources for $3.4 billion.
Home prices rise more than expected. Consumer confidence increases. The Federal Reserve agrees to consider more steps to boost economy if necessary.
The blue chips reverse an early 102-point decline. New-home sales drop to their lowest level on record. Industrial production is weak. Gold and silver rise.
But the major indexes are still lower on the year. Leaders include Home Depot leads the Dow, Airgas on the S&P 500 and Baidu among Nasdaq-100.
Huge losses in the morning are trimmed in the afternoon. Jobless claims worsen. Concerns about Greece grow. Will Apple split its shares?
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