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Today's News

  • The markets and your nest egg

    Whether you’re a Republican or Democrat, or whether you like it or not, what’s going on in the financial markets affects us all.
    On Aug. 4, we saw the Dow Jones Industrial average drop more than 500 points, the worst one- day drop since December 2008.
    Not even a better-than-anticipated jobs report released the next day allayed fears — the market at one point dropping by as much as 200 points and ending in positive territory only when good news about the Italian economy was announced.
    But last week’s overall market loss has the unwanted distinction of being one of only three weeks since World War II that has had a weekly decline of this magnitude.

  • Real Madrid signs a 7-year-old prodigy

    MADRID (AP) — He has a contract with one of soccer’s biggest clubs and the same long, floppy hair and nickname Leo of his idol, Lionel Messi.
    It may take awhile, however, before Leonel Angel Coira can match the wondrous Messi: He is 7 years old.
    Real Madrid said Monday it signed the Argentine prodigy to its youth academy after seeing him in tryouts. He will start training with Madrid’s youth team in September.
    Coira hopes to follow the path set by Messi, a countryman who joined Barcelona from the Argentine club Newell’s Old Boys as a teenager and has gone on to win the World Player of the Year award two times.

  • US stocks rise after Monday's big fall

    NEW YORK (AP) — Bargain hunters helped push the Dow back above 11,000 briefly Tuesday.

    The Dow Jones industrial average rose 193 points, or 1.8 percent, to 11,003 in morning trading. On Monday, the Dow had its worst day since 2008. It plunged 634.76 points as fear coursed through global markets.

    Investors worried about the first-ever downgrade to the U.S. credit rating, the slowing U.S. economy, debt problems in Europe and rising inflation in less-developed countries.

  • UK PM recalls Parliament for London riot crisis--video extra

    LONDON (AP) — British Prime Minister David Cameron recalled Parliament from its summer recess Tuesday and nearly tripled the number of police on the streets after three days of rioting in London blossomed into a full-blown political crisis.

    Cameron described the scenes of burning buildings and smashed windows in London and several other British cities as "sickening," but refrained from more extreme measures such as calling in the military to help beleaguered police restore order.

    Instead, he said 16,000 officers would be on the streets of the capital Tuesday night, almost tripling the number that were out Monday night.

  • Japan ignored own radiation forecasts

    NAMIE, Japan (AP) — Japan's system to forecast radiation threats was working from the moment its nuclear crisis began. As officials planned a venting operation certain to release radioactivity into the air, the system predicted Karino Elementary School would be directly in the path of the plume emerging from the tsunami-hit Fukushima Dai-Ichi nuclear plant.

    But the prediction helped no one. Nobody acted on it.

    The school, just over six miles (10 kilometers) from the plant, was not immediately cleared out. Quite the opposite. It was turned into a temporary evacuation center.

  • Plunge on Wall Street threatens to spook consumers

    WASHINGTON (AP) — It's the last thing a nervous consumer and a fragile economy needed: a confidence-killing nosedive on Wall Street.

    Americans struggling with lean wages, job insecurity and high gasoline prices have seen a 15-percent plunge in stock prices shrink their 401(k) accounts over the past 2½ weeks. When consumers feel less wealthy, they're less likely to buy new furniture, new appliances or new cars. And their spending drives about 70 percent of the economy.

    Murray Specktor, 58, a retired Northwest Airlines pilot, says he has enough money tucked away to support himself in retirement. But after the stock market's plunge, he's taking further precautions.

  • Stocks tank as markets enter bear market territory

    LONDON (AP) — Stocks tanked again Tuesday as many global markets entered official bear market territory after one of the worst days on Wall Street since the collapse of Lehman Brothers in 2008.

    Asian markets briefly recouped many earlier losses and European stocks opened higher. That rally proved short-lived, as investors worried about the consequences of the U.S. credit downgrade, Europe's debt crisis and mounting expectations of a global recession.

    Many investors are looking for relatively safer assets to park their cash and the price of gold and the Swiss franc continued to rise to record levels.

  • Injured hiker airlifted to safety after Sunday mishap

    On Sunday afternoon a hiker broke his lower leg hiking near the Rio Grande below White Rock and was airlifted by Tristate CareFlight to the Los Alamos Medical Center for treatment.

    The unidentified hiker, who officials said is in his 40's,  and a friend hiked down the Blue Dot Trail from White Rock to the Rio Grande, where the injury occurred. Both hikers were very familiar with the Los Alamos County Trail System. The injured man’s hiking partner made a 911 cell phone call requesting rescue.

  • S&P also downgrades Fannie and Freddie, US-backed debt

    WASHINGTON (AP) — Standard & Poor's Ratings Services on Monday downgraded the credit ratings of Fannie Mae and Freddie Mac and other entities linked to long-term U.S. debt.

    S&P also lowered the ratings for: farm lenders; long-term U.S. government-backed debt issued by 32 banks and credit unions; and three major clearinghouses, which are used to execute trades of stocks, bonds and options.

    All the downgrades were from AAA to AA+, reflecting the same downgrade S&P made of long-term U.S. government debt on Friday.

    The downgrade of the mortgage giants Fannie and Freddie reflected their "direct reliance" on the U.S. government, S&P said.

  • Dow plunges more than 600 points after downgrade--video extras

    NEW YORK (AP) — Stocks plunged Monday as anxiety overtook investors on the first trading day since Standard & Poor's downgraded American debt.

    The Dow Jones industrials fell 634.76 points. It was the sixth worst point decline for the Dow in the last 112 years and the worst one-day drop since December 2008. Every stock in the Standard & Poor's 500 index declined Monday.

    Investors worried about the slowing U.S. economy, escalating debt problems threatening Europe and the prospect that fear in the markets would reinforce itself, as it did during the financial crisis in the fall of 2008.