Election chaos and Friday’s tech outage are taking the market on a wild ride
CNN
Stocks are soaring this year, but that could soon change as election chaos takes the market on a rollercoaster ride.
Stocks are soaring this year, but that could soon change as election chaos takes the market on a rollercoaster ride. The S&P 500 is up more than 15% since January and hasn’t fallen by 2% in more than 353 trading sessions. That’s the longest such streak since 2007 (right before the financial collapse). But this has been a destabilizing week for US stocks and the market trajectory could be shifting. Investors have struggled to find their footing in recent days as they contend with an assassination attempt on former President Donald Trump, rising odds that President Joe Biden will drop out of the election, attacks on Big Tech and chipmakers from both sides of the aisle and a global computer outage affecting airports, banks, hospitals and other businesses. The Dow fell 378 points, or 0.9%, on Friday as the tech outage continued to rattle investors. The S&P 500 and the Nasdaq Composite were down 0.7% and 0.8%, respectively. It’s the latest session to see stocks oscillating this week, reaching new highs before swinging back down again.
There may be some cracks forming in the egg market.
Ruth Marcus, who recently resigned as a Washington Post columnist after four decades, said she parted ways with the paper following a spiked opinion piece on the paper’s billionaire owner because her job is to tell readers “what I think, not what Jeff Bezos thinks I should think.”
CNN is tracking price trends for various household staples each month as new factors threaten to increase costs.
Inflation slowed in February for the first time in four months, but that progress may be short lived as President Donald Trump ramps up his trade war, which threatens to increase prices for Americans.
With his chaotic trade policy, President Donald Trump is digging himself into an economic and political hole so deep, it may prove impossible to climb out.
American consumers – and their wallets – are the engine of the economy. But they’re now showing the strain of inflation, President Donald Trump’s tariffs and a stock market plunge.
Elon Musk has secured a major win in India by signing two back-to-back deals to bring SpaceX’s Starlink satellite internet services to the country.
President Donald Trump imposed a sweeping 25% tariff on all steel and aluminum imported into the United States early Wednesday, a move that threatens to drive up prices on a broad range of consumer and industrial goods for Americans.
Meta is once again facing allegations from a former employee that a growth-at-all-costs culture has caused offline harm.
It was almost an extraordinary scene in front of the White House. As Tesla shares have been tanking since the year began, President Donald Trump held remarks outside of the White House with the company’s CEO and Department of Government Efficiency Head Elon Musk – all in front of a line of shiny Tesla vehicles.
A Florida circuit judge on Monday denied the Pulitzer Board’s request to pause a defamation lawsuit from Donald Trump until the president is out of office.
US markets dropped again Tuesday after President Donald Trump doubled down on his threat to levy a new round of hefty tariffs on Canada.
President Donald Trump on Tuesday threatened a sharp escalation in the budding trade war with Canada in retaliation for Ontario’s export surcharge on US electricity.