Nearly everything on Wall Street tumbled Monday as fear about a slowing U.S. economy worsened and set off another sell-off for financial markets around the world.
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Posted inBusiness
Washout on Wall Street sends stocks tumbling
The Dow Jones Industrial Average tumbled 533 points, or 1.3%.
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High-flying chipmakers see worst plunge since 2020
The Biden administration told allies it’s considering severe curbs if companies like Tokyo Electron and ASML keep giving China access to advanced semiconductor technology.
Posted inBusiness, Nation & World
Amazon joins exclusive club, crossing $2 trillion in stock market value for the first time
Amazon now joins Google’s parent Alphabet, software behemoth Microsoft, iPhone maker Apple, and AI chip maker Nvidia among companies with valuations of at least $2 trillion.
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U.S. antitrust enforcers will investigate leading AI companies Microsoft, Nvidia and OpenAI
The entire AI industry has also relied heavily on Nvidia’s specialized semiconductors to power AI applications.
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Frenzy around AI catapults stocks on Wall Street
Some fatter-than-expected profit reports from tech companies helped drive the market.
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Merrill Lynch agrees to pay nearly $20 million to settle class action racial discrimination lawsuit
The lawsuit alleges that African American advisers received less compensation and fewer promotions than their white counterparts.
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Shares in Trump Media slump after former president convicted in hush money trial
Trump Media’s stock was down about 9% in after-hours trading Thursday as news of the verdict emerged.
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Stock market today: Dow finishes above 40,000 to cap Wall Street’s latest winning week
The S&P 500, which is the much more important index for Wall Street and most retirement savers, also finished near a record high.
Posted inBusiness, Nation & World
Reddit, the self-anointed ‘front page of the internet,’ soars in Wall Street debut
Reddit’s IPO will test the quirky company’s ability to overcome a nearly 20-year history colored by uninterrupted losses, management turmoil and user backlashes.