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Wall Street Roundup: More layoffs. Powerful panic.

August 23, 2011 |  9:04 am


Wall sign closeup  michael nagle getty
Gold:
Trading now at $1,880 an ounce, down 0.6% from Monday. Dow Jones industrial average: Trading now at 10970.53, up 1.1% from Monday.

Morning activity. Hope for the Federal Reserve and a report from the FDIC are sending stocks up.

More layoffs. The Swiss bank UBS is the latest Wall Street firm to announce big cuts. 

Powerful panic. Ordinary investors aren't the only ones panicking and trying to move everything into cash -- some Wall Street executives, at least, are doing the same.

--Nathaniel Popper

twitter.com/nathanielpopper

Photo credit: Michael Nagle / Getty Images

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