The stock market got off to a rough start to October on Wednesday. The Dow Jones industrial average dropped nearly 240 points as investors reacted to a round of negative economic news.
(Corrects first and second paragraph to show that Fannie and Freddie are two of Pershing's smallest holdings, not largest.) Investors in the initial public offering of Pershing Square Holdings Ltd.
Dwindling demand cut factory activity across much of Asia and Europe in September, sending it to multi-month lows and raising the chances that global growth will slow in the months ahead.
Bank of America Corp. (BAC) elected Chief Executive Officer Brian T. Moynihan chairman of the board after he helped lead the company through legal disputes tied to the financial crisis.
In the oil world, geopolitical risks seem to have taken a backseat - at least for now - and the focus is shifting to the growing crude oil surplus.