Aroop Chatterjee

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  • A television screen at the post of specialist Stephen Ruiz (left) displays the decision of the Federal Reserve on the floor of the New York Stock Exchange on Aug. 9, 2011. The Federal Reserve said Tuesday that it will likely keep interest rates at record lows for the next two years after acknowledging that the economy is weaker than it had thought and faces increasing risks. (Associated Press)

    Stocks rebound in late surge of trading

    Wall Street stocks staged a convincing comeback after weeks of turmoil Tuesday, with the Dow Jones industrial average first plumbing new lows near 10,500 before surging to end up 430 points in a lightning-fast rebound in the closing 45 minutes of trading.

  • **FILE** A Chinese clerk counts U.S. dollars in exchange for the Chinese renminbi at a bank in Hefei in central China's Anhui province on June 20, 2010. (Associated Press)

    Treasury: Chinese currency still undervalued

    The Treasury Department says China's currency remains undervalued despite the Asian giant's move last month to loosen its strict link to the U.S. dollar.

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