Market site. We start off with the straw that might have finally broken the rallys back fitchs downgrade of the United States longterm Credit Rating sent the yield on the tenyear treasury to its highest level since last november and that took the wind out of the sails in the equity rally. The dow going negative for the week the s p down 1. 4 for its lowest close in more than two weeks the nasdaq shedding more than 2 take a look at the stocks that were particularly hardhit data dog, crowd strike, all dropping more than 6 . Semiconductors taking a leg lower. Amd, which was up about 6 after its Earnings Report last night ends the day down more than 7 investors turning instead to the safety of more defensive sectors, Consumer Staples, health care, the only groups in the green today. So, did fitch show how tenuous this rally has been . And weve seen this before, karen. 4 seems like the magic number whatever the reason for getting above 4 is, this time, its fitch. Stocks fell off. Right well
A look now at challenges in the property Insurance Market. Witnesses discuss marketplaces and insurance providers leaving california, texas and other states. This hearing held by the Senate Banking financing in urban affairs committee. The committee a banking, housing and urban affairs come to order. Looking back witnesses who have been here before and welcome colleagues and staff. First hearing obviously posed labor day. A few Financial Decisions more important than buying a home, homebuyers making an investment in themselves, their families, their communities. It is an act of optimism and also stressful. Families have so much to think about, making sure they are covering the down payment, navigating the mortgage and closing process, catching up with the new school if they have children. Buying Homeowners Insurance has always been a part of that process giving families peace of mind. Homeowners are confident their premiums are a backstop against devastation that could ensue if the lar
Democracy. A look that what challenges the property Insurance Market. Witnesses discussed the impact of rising Interest Rates, oversight of state Insurance Marketplaces and insurance providers departing california, texas and other states his hearing is on the Senate Banking housing and urban affairs committee. [background noises] [background noises] [background noises] [laughter] [background noises] the command banking housing and affairs come to order. Welcome back witnesses who have been here before and welcome colleagues and staff. The first hearing post labor day. A few Financial Decisions are more important than buying a home. Homebuyers make an investment in themselves, their families, their communities. Homebuying is an act essentially active optimism. It is also stressful. Families buying a new hole have so much to think about making sure they cover their down payment, navigating the mortgage included thing a process. Ovmoving in, getting kids set ua new school theft shall divi
Been arrested in the deaths of 71 migrants find found in a truck abandoned on a highway in austria. Probablyy they suffocated and at least some of the victims were refugees fleeing violence in syria. , president george w. Bush visits the site of one of the low points of his presidency. He traveled to new orleans to mark the 10th anniversary of Hurricane Katrina. The former president was criticized for his administrations response to the disaster. President obama was there yesterday and watched through the new orleans neighborhood that was one of the hardest hit. The president said new orleans is a model for resilience in the face of catastrophe. I am here to say that on that larger project, stronger, more , the progress that you have made this remarkable. Mr. Obama called new orleans recovery a work in progress, saying the job is not to rebuild the city as it used to be but to rebuild it a new. Defense secretary Ashton Carter is on a friend raising mission to Silicon Valley. Carter wan
Koreas foreign minister says hess country has the right to shoot down strategic u. S. Bombers even if theyre not in north korean air spas. Stocks dropped sharply. The major indexes did recover some of those. The Dow Jones Industrial averag dropped 53 points to 22,296. The nasdaq was off 56, and the s p 500 was down five. Well, north korea got a lot of investor attention, so did something else. Bob pisani explains. Tensions are on the rise once again after a war of words between President Donald Trump and north Korean Leader kim jongun escalated today. North koreas foreign minister said trump has effectively declared war on the rogue nation, and that north korea now, quote, has every right to take countermeasures, including the right to shoot down u. S. Bombers even if theyre not in north korean airspace. Weve had hear similar exchange of threats now, the markets have mostly shrugged them off up until now. The gold was up. Bond yields dipped to lows, lifting real estate, defensive nails