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Gridlock over raising debt limit weighs on stocks
Stock Market News |
2011/07/26 09:12
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The debt gridlock in Washington is causing more worries on Wall Street.
Stocks fell Tuesday as U.S. lawmakers remained in a bitter stalemate over raising the country's borrowing limit. Republican and Democratic lawmakers have offered competing proposals to avoid a catastrophic default on the government's debt. A resolution appears a long way off. If an agreement is not reached by Aug. 2, the U.S. won't have enough cash to pay its bills.
Industrial companies led stocks lower after earnings reports from UPS, 3M and U.S. Steel raised concerns that the economy is weakening.
In midday trading, the Dow Jones industrial average is down 62 points, or 0.5 percent, at 12,530. The Standard & Poor's 500 is down 3, or 0.3 percent, at 1,334. The Nasdaq composite is flat at 2,843.
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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