Ronald Reagan tried the UK's economic plan. It didn't work

The British pound hit a record low against the dollar on Monday after UK Prime Minister Liz Truss, a fan of "trickle-down economics," announced a sweeping spending and tax cut plan to rescue the British economy from recession on Friday.
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Ronald Reagan tried the UK's economic plan. It didn't work
The British pound hit a record low against the dollar on Monday after UK Prime Minister Liz Truss, a fan of "trickle-down economics," announced a sweeping spending and tax cut plan to rescue the British economy from recession on Friday. Read more »
 
Toy companies expect grown-ups to shop more for other adults this holiday season
Fans of the cult classic movie "The Hudsucker Proxy" will remember that the main character kept describing his invention of the hula hoop as being, "you know, for kids." But top toy companies are looking beyond the youth demographic this holiday season and plan to pitch more of their products to a demographic with more spending money: grownups. Read more »
 
Markets are now treating UK bonds like Greek and Italian debt
The pound may have paused its headlong crash toward parity with the US dollar, but the damage to the UK economy sparked by Prime Minister Liz Truss' huge tax-cutting gamble is still rippling through financial markets. Read more »
 
The UK's 'Trussonomics' crashes the pound and leaves investors shaking their heads
The reviews are in on the new UK government's plan to slash taxes and load up on debt, and they are, um, far from glowing. Read more »
 
Stocks rebound after lowest close since 2020
Stocks opened higher Tuesday morning, snapping a five-day losing streak and a steep selloff that sent the Dow into a bear market the previous day. Read more »
 
UK mortgage borrowers are in for a nasty shock from soaring rates
Millions of mortgage borrowers in the United Kingdom are bracing themselves for huge hikes to their monthly payments as a consequence of the run on the pound. Read more »
 
 
 
 
Dow Nasdaq S&P
-125.82   +26.58   -7.75
29,134.99   10,829.50   3,647.29
-0.43%   +0.25%   -0.21%
YTD -19.82%   YTD -30.78%   YTD -23.48%
 
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CF Industries Holdings Inc +6.10%
 
Norwegian Cruise Line Holdings Ltd +4.26%
 
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Royal Caribbean Cruises Ltd +3.91%
Biggest Losers
Digital Realty Trust Inc -3.98%
 
Organon & Co -3.54%
 
Global Payments Inc -3.42%
 
Fleetcor Technologies Inc -3.40%
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Oil $78.06 +1.35 / +1.76%
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10-yr 3.96% +0.09
Euro $0.96 -0.00 / -0.29%
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