By Jamie McGeever ORLANDO, Florida (Reuters) – TRADING DAY Bears, fears and tears One of the most pivotal weeks in years – even decades – for the global economy closed on Friday to the sound of the Nasdaq crashing into a bear market as investors fear U.S. President Donald Trump’s trade war will tip the …
Trading Day: Trump tariffs wipe $5 trillion off Wall Street Read More »
(Reuters) -The tech-heavy Nasdaq Composite index confirmed on Friday that it is in a bear market, after a 22.7% fall from its Dec. 16 record close, as investors fled riskier assets on fears that tariffs imposed by President Donald Trump could spark a trade war and tip the global economy into recession. The index ended …
Nasdaq confirms it is in bear market, ending more than 20% below record close Read More »
(Reuters) – Meta Platforms is planning on spending nearly $1 billion on setting up a data center project in central Wisconsin as part of its investment in artificial intelligence technology, Bloomberg News reported on Friday. Wisconsin in February reached an agreement with an unnamed company using an alias to develop a data center in the …
Meta plans nearly $1 billion data center project in Wisconsin, Bloomberg News reports Read More »
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices plunged 7% on Friday to settle at their lowest in over three years as China ramped up tariffs on U.S. goods, escalating a trade war that has led investors to price in a higher probability of recession. China, the world’s top oil importer, announced it will impose additional …
Oil dives 7% to lowest in over 3 years on China’s tariffs Read More »
By Howard Schneider WASHINGTON (Reuters) -President Donald Trump’s new tariffs are “larger than expected,” and the economic fallout including higher inflation and slower growth likely will be as well, Federal Reserve Chair Jerome Powell said on Friday, while cautioning it was still too soon to know what the right response from the central bank ought …
Fed’s Powell says larger-than-expected tariffs likely to boost inflation, slow growth Read More »
By Costas Pitas, Brendan O’Brien (Reuters) -The stock market plunge has more to do with the emergence this year of China’s DeepSeek artificial intelligence tool than with President Donald Trump’s policies, U.S. Treasury Secretary Scott Bessent said in an interview released on Friday that signaled little concern about the ongoing nosedive. “For everyone who thinks …
(Reuters) -Tesla’s vice president of software engineering, David Lau, has told people at the company he is stepping down, Bloomberg News reported on Friday, citing people familiar with the matter. Lau, who has been with the automaker for more than 12 years, has held the role since 2017, according to his LinkedIn page. His team …
Tesla’s software engineering head to step down, Bloomberg News reports Read More »
By Lewis Jackson, Amy Lv, Eric Onstad and Ernest Scheyder BEIJING/LONDON (Reuters) -China placed export restrictions on rare earth elements on Friday as part of its sweeping response to U.S. President Donald Trump’s tariffs, squeezing supply to the West of minerals used to make weapons, electronics and a range of consumer goods. The move, which …
China hits back at US tariffs with export controls on key rare earths Read More »
By Christine Chen SYDNEY (Reuters) -Hackers targeting Australia’s major pension funds in a series of coordinated attacks have stolen savings from some members at the biggest fund, according to a source with knowledge of the matter, and compromised more than 20,000 accounts. National Cyber Security Coordinator Michelle McGuinness said in a statement she was aware …
Hackers strike Australia’s largest pension funds in coordinated attacks Read More »
By Jonathan Stempel (Reuters) – Berkshire Hathaway said on Friday that reports on social media regarding comments allegedly made by its chairman are “false,” after Donald Trump’s account on Truth Social shared a video suggesting that Warren Buffett endorsed the U.S. president’s economic policies. The video, posted by a user named AmericanPapaBear, said Trump was …
Berkshire dismisses ‘false’ reports on Buffett comments after Trump shares video Read More »
