https://personal.vanguard.com/us/insights/article/economic-week-review-08052011
Economic Week in Review: Rocky week for the markets as Congress avoids debt default
August 05, 2011
A week that began with the federal government striking a deal to avert defaulting on the nation's debts ended with the release of better-than-expected unemployment numbers. The week also saw the largest one-day drop for the Dow Jones Industrial Average since autumn 2008. Consumer spending fell for the first time in nearly two years, while service industry expansion slowed to its lowest rate of growth in 17 months. For the week ended August 5, the S&P 500 Index fell 7.2% to 1199 (for a year-to-date total return—including price change plus dividends—of about –3.6%). The yield on the 10-year U.S. Treasury note fell 24 basis points to 2.58% (for a year-to-date decrease of 72 basis points).
Unemployment numbers beat forecasters' expectations
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Zim.
Mad Poet Strikes Again.
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