The Dow Jones Industrial average fell over 300 points today, over 3%, which wiped out its entire 2011-to-date gains. Why? The Standard & Poor 500 also fell over 3% today, "a 10 percent drop from its April 29 peak and weakest level in nine months." The NY Times says, "The stock market fell sharply Thursday on intensifying investor fears about a slowdown in global economic growth and worries about Europe’s ongoing debt crisis, which is centered now on Italy and Spain." more ›

World leaders convening for the G20 summit agreed they will "do more" (in the worlds of British Prime Minister Gordon Brown) to help bolster their economics and the global economy as a whole--not that they had any other choice. However, the NY Times reports, "they put off thornier decisions about how to overhaul financial regulations until next year, providing a serious early challenge for the Obama administration." more ›