This week’s fall in stock prices was about as unsurprising as President Trump’s explanation for the setback — “The Fed has gone crazy,” he said. Expect more of the same over the coming weeks and months, as the US economy adjusts to the withdrawal of the Federal Reserve’s post-crash monetary stimulus, and a reckless administration persists in testing investors’ nerve. ...

There was only one plausible outcome in the long, tortured saga of Sears Holdings Corp., and it has finally arrived. The retailing giant, which includes its eponymous department store and the Kmart discount chain, said it has filed for Chapter 11 bankruptcy. It is set to close 142 unprofitable stores near the end of the year and Eddie Lampert, the ...

Investors need a reason to invest in European initial public offerings (IPOs). All they are getting are reasons not to. Medical devices firm Convatec Group Plc – one of the star debuts of 2016 – issued a massive profit warning on Monday, just as Spain’s Cepsa pulled what would have been the biggest oil IPO in a decade. Europe’s new ...