German stocks fall on Japan's trade data

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Source: Bloomberg
German stocks dropped amid higher-than-expected trade deficit in Japan and before European leaders meetings this week. The DAX Index decreased 1% to 7,017.7, the biggest drop since Aug.2. Meanwhile, the gauge surged 17% from the year's lowest level on June 5 amid Mario Draghi's pledge to sustain the euro.
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Wed, 22 Aug 2012 18:43:50 GMT

CBO projects a $1.1 trillion budget deficit in 2012

The Congressional Budget Office projected a $1.1 trillion federal budget deficit, or 7.3% of nation's GDP in fiscal 2012,. This is already the fourth straight year when the U.S. government's shortfall will exceed $1 trillion.  Meanwhile, the new estimates are slightly lower than the predictions in March, when analysts expected a $1.2 trillion federal deficit.

Wed, 22 Aug 2012 17:37:51 GMT

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