Gripped by fear of another recession, the Dow Jones industrial average fell more than 500 points.
British banking company HSBC said Monday it will sell just under half its retail banking branches in the United States to First Niagara Bank for around $1 billion.
Obama and congressional leaders reached for a compromise to permit vital borrowing by the Treasury in exchange for $2 trillion in long-term spending cuts.
President Barack Obama warned the United States was "almost out of time" to make a deal to raise the nation's debt ceiling, insisting that a compromise was within reach.
David Beers says he sees a "political divide" in the United States that won't be any easier to bridge with time.
The euro and dollar fell Thursday because of concerns about the ongoing debt crises in Europe and the US.
Reid is maneuvering to make his own budget proposal the equivalent of the last man standing among the competing bills in Congress, according to congressional aides.
World stock markets watched nervously for a feared downgrade of the United States triple-A bond rating, shedding value across the board.
The wealth gap between whites and minorities in the United States has reached the widest in a quarter century after the economic crisis hit nonwhites the hardest, a study released on Tuesday showed.
Amazon.com Inc reported a surge in quarterly revenue on sales of its kindle electronic reader and other electronics.
President Barack Obama's Democrats and their Republican rivals were further apart than ever on Tuesday in an impasse over the government's debt limit as investors braced for a looming US default and downgrade.
Failure to compromise and let the country to default on its financial obligation is "reckless and irresponsible."