Stocks close out sharply lower Stocks closed out sharply lower Thursday as investors feared the Federal Reserve's relentless interest rate hikes are tipping the economy into a recession.The Dow Jones Industrial Average fell 764 points, or 2.25%, in its worst day since September as hopes for a year-end rally diminished. The S&P 500 dropped 2.49%,…
Posts published in “Finance”
Xi says summit with Gulf, Arab League is 'milestone'U.S. wary of growing Chinese influence in Arab worldArabs defy U.S. pressure to limit China ties, cut off RussiaSummits showcase Saudi Crown Prince Mohammed as key leaderRIYADH, Dec 9 (Reuters) - President Xi Jinping told Gulf Arab leaders on Friday that China would work to buy oil…
House Financial Services Committee Chairwoman Maxine Waters said in a tweet on Wednesday that a subpoena for FTX CEO Sam Bankman-Fried to testify "is definitely on the table" at a Dec. 13 hearing about the dive bomb his crypto exchanged experienced last month, despite reports indicating she had no plans to subpoena him. Still, the…
Image source, Getty ImagesImage caption, Sunny Balwani was convicted on 12 counts of wire fraud and conspiracy to commit wire fraud in JulyBy Madeline HalpertBBC News, WashingtonRamesh "Sunny" Balwani, the business partner of disgraced Theranos founder Elizabeth Holmes, has been sentenced to nearly 13 years in prison. Balwani was convicted in July of 12 counts…
Indexes close higher following afternoon rallyAll three indexes ended higher Wednesday, coming off a rally on the back of Fed Chair Jerome Powell's comments.The Dow closed up 737.24 points, or 2.18%, to 34,589.77. Meanwhile, the Nasdaq Composite jumped 4.41% to 11,468.00. The S&P 500 added 3.09% to 4,080.11.That marked a reversal from earlier in the…
Medtronic falls to lowest level since March 2020One more stock hit a fresh 52-week low in addition to the open. Shares of Medtronic were trading at lows not seen since March 2020. Meanwhile, two new stocks were trading at new 52-week highs after the open. Shares of Ross Stores traded at levels not seen since…
The Dow Jones Industrial Average rose Friday, notching a gain during the holiday-shortened trading week.The Dow rose 152.97 points, or 0.45% to 34,347.03, marking the third consecutive session of gains. The S&P 500 fell 0.03% to end the day at 4,026.12. The Nasdaq Composite slipped 0.52% to 11,226.36, weighed down by shares of Activision Blizzard,…
Video shows workers clash with police at world's largest iPhone assembly factory 01:30 - Source: CNN Hong Kong CNN Business — Foxconn has offered to pay newly recruited workers 10,000 yuan ($1,400) to quit and leave the world’s largest iPhone assembly factory, in an attempt to quell protests that saw hundreds clash with security forces…
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