(Bloomberg) -- US social-media giants shed nearly $47 billion in market value in extended trading Thursday, as disappointing revenue from Snap Inc. raised concerns about the outlook for online advertising.Most Read from BloombergAmericans Who Can’t Afford Homes Are Moving to Europe InsteadMusk Lieutenant Scrutinized in Internal Tesla Purchasing ProbeThese Are the World’s Most (and Least)…
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U.S. stock indexes recorded their biggest one-day gains in nearly a month Tuesday, as investors reacted positively to a fresh batch of company earnings reports. The S&P 500 added 105.84 points, or 2.8%, to end the day at 3936.69. The tech-focused Nasdaq Composite gained 353.10 points, or 3.1%, to 11713.15 , and the Dow Jones…
Minneapolis CNN Business — For the first time in nearly two months, crude oil prices have fallen below $100 a barrel, reflecting investors’ growing concerns about a US recession that could crimp demand for oil. The price of West Texas Intermediate crude tumbled as much as 10% Tuesday, to hit a low of $97.43 before…
ImagePrime Minister Boris Johnson, center; Rishi Sunak, the chancellor of the Exchequer, right; and Sajid Javid, health secretary, in April.Credit...Pool photo by Frank AugsteinPrime Minister Boris Johnson of Britain was battling for his political survival Tuesday night after the bombshell resignations of two of his top cabinet officers. The resignations appeared to be a coordinated…
Cryptocurrency exchange Coinbase Global Inc. said it is cutting almost a fifth of its staff because the company had grown too quickly and a potential recession “could lead to another crypto winter.” The company said Tuesday it will reduce its workforce by 1,100 employees, or about 18% of its staff, as part of its efforts…
Houses and Homes Now playing Typical monthly payment for US home up 42% in a year Now playing Redfin Chief Economist: Despite signs of the housing market cooling, prices will stay high Now playing Home buyers aren't using a realtor. Here's what they're doing instead Now playing 'Puts me on the street': Americans forced out…
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NEW YORK (AP) — A swift jump in Treasury yields rattled Wall Street on Wednesday, pulling stocks broadly lower at the start of another month in what’s been a turbulent year for the market. The S&P 500 ended 0.7% lower after an early morning gain quickly gave way to choppy trading. The Dow Jones Industrial…
The much-anticipated launch of Terra’s new blockchain took place today, as planned. The network has produced its first block, and additional services are expected to go live soon. Terra’s team took it to Twitter today to reveal that the new chain has officially gone live and is already producing blocks. Block 1 of the brand…
Shanghai goes three days with no new community infectionsOnly a few signs of a gradual re-openingAmcham warns COVID controls hamper foreign investmentSHANGHAI/BEIJING, May 17 (Reuters) - Shanghai achieved on Tuesday the long-awaited milestone of three consecutive days with no new COVID-19 cases outside quarantine zones but most residents will have to put up with confinement…