The Dow, Nasdaq and S&P 500 are off about 3% right now, as worries about the global economy continue to linger--in spite of what CNBC calls "the positive effect of China's stimulus package." Hey, the chances of a depression in 2009 are 15%, so the glass is 85% full, right? The bond market is closed today, for Veterans Day, but there's still lots of news: Developer Toll Brothers reported a 41% drop in third quarter revenue and Citigroup announced it would rework thousands of mortgages, focusing on areas "likely to face extreme economic distress," and may help homeowners stay current with payments.
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