S&P 500 closes lower for a third day as rising bond yields pressure stocks: Live updates
The S&P 500 ticked lower Thursday, after notching its worst day since April, as Wall Street struggled to shake off a rise in bond yields.
AMD forecast, U.S. credit downgrade drags down chip stocks
Chip stocks dipped Wednesday, after AMD reported a gloomy forecast that may have spooked investors across the sector.
The Fitch analyst behind the U.S. downgrade breaks down the decision—and how the country can regain the top rating
Fitch Ratings’ Richard Francis told CNBC that the rating agency would need to see a long-term fiscal solution and a reduction of its debt.
Elon Musk tweets and Twitter bots drove up price of FTX-listed altcoins, research finds
Sam Bankman-Fried and his crypto hedge fund Alameda Research benefitted from the fake bot activity on Twitter, which drove up the prices of several altcoins.
Europe stocks close 1.4% lower as investors digest U.S. rating downgrade
European markets closed lower Wednesday as investors continue to digest earnings and the U.S. rating downgrade.
Shares of Chinese Tesla rival Xpeng fall 5% after head of autonomous driving resigns
Xinzhou Wu, vice president of autonomous driving at Xpeng, has tendered his resignation “for personal and family reasons,” the company said in a statement.
iPhone maker Foxconn to invest $600 million into phone and chip project in India
Foxconn is looking to diversify its business beyond China at a time when India is trying to bring high-tech manufacturing to its shores.
‘Unprecedented heat’: Iran begins two-day nationwide shutdown amid soaring temperatures
The two-day shutdown comes at a time of record-breaking extreme heat across the globe, with July poised to be the hottest month in history.
China floats two-hour daily limit of smartphone screen time for kids
The draft rules laid out by the increasingly powerful Cyberspace Administration of China are a broader push to prevent addiction among under 18s to apps.
U.S. debt downgrade sinks global markets — but economists are not concerned
Global stock markets tumbled on Wednesday after ratings agency Fitch downgraded the United States’ long-term credit rating, but top economists say there is nothing to worry about.
