NEWS

President Barack Obama signed legislation Tuesday to avoid an unprecedented national default that he said would have devastated the U.S. economy. But the truce with Republicans that defused the crisis seemed to be fading already.

Stocks on long losing streak as economy weakens (AP)
AP - The stock market is on its longest losing streak since the financial meltdown of 2008, confronted almost every day by fresh evidence that the economy is in serious trouble again.

Americans cut spending for first time in 20 months (AP)
AP - Americans cut their spending in June for the first time in nearly two years after seeing their incomes grow by the smallest amount in nine months. The latest data offered a troubling sign for an economy that is adding few jobs and barely growing.

Stocks now down for year as economic concerns grow (AP)
AP - The stock market fell sharply Tuesday because investors have grown increasingly worried about the economy.