Tag: Lee Fisher
To critics, a 39 percent hike in health insurance for some Californians foretells skyrocketing rates for the rest of us. Not so, says the company, arguing the increase only hits a relatively small number of people and the economy is to blame.
But the rhetoric from both sides distorts the reality.
World stock markets and oil prices slid Monday as worries about the consumer outlook in the U.S. reined in hopes about the pace of any global economic recovery — despite the news that Japan has climbed out of recession.
In Europe, the FTSE 100 index of leading British shares was down 76.23 points, or 1.6 percent at 4,637.74 while Germany's DAX fell 95.78 points, or 1.8 percent, to 5,213.33. The CAC-40 in France was 58.69 points, or 1.7 percent, lower at 3,436.31.
Shanghai's market led sharp declines across Asia, plummeting nearly 6 percent, and futures markets pointed to big falls later when Wall Street opens. Dow futures were 157 points, or 1.7 percent, at 9,164 while the broader Standard & Poor's 500 futures fell 18.5 points, or 1.8 percent, to 987.30.
Concerns about the state of retailing in the U.S. are primarily to blame for the latest bout of jitters in the markets, which have come after a month-long rally has sent many of the world's main stock markets to new highs for 2009.