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• Dow ends down 575 points as Powell signals higher-than-expected rates on way
  U.S. stocks and other financial markets were jolted Tuesday as Federal Reserve Chair Jerome Powell made...
  U.S. stocks and other financial markets were jolted Tuesday as Federal Reserve Chair Jerome Powell made clear interest rates would rise further than policymakers previously expected, and opened the door wide open to speeding up rate hikes if the data warrants it.
  
  Fed funds futures show traders see a roughly 60% chance of a half-point rate hike when the Fed meets later this month, rather than a quarter-point rise. Traders had seen a 34% chance on Monday.
  
  The Dow Jones Industrial Average dropped around 575 points, or 1.7%, while the S&P 500 shed 1.5% and the Nasdaq Composite lost 1.3%.
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• Oil Steady as Market Juggles Supply and Demand Fears
  In overseas trading, oil prices were little changed on March 7 after five sessions of gains, with weak...
  In overseas trading, oil prices were little changed on March 7 after five sessions of gains, with weak oil data from top crude importer China balanced by concern over supply.
  
  Brent crude futures fell 22 cents, or 0.26%, to $85.96/bbl by 1043 GMT. U.S. West Texas Intermediate crude was down 16 cents, or 0.2%, at $80.30.
  
  Bearish sentiment surrounded a contraction in China's exports and imports in January and February, including crude imports. The decline came despite a lifting of COVID-19 restrictions, pointing to weakness in foreign demand.
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• AI is coming for your email.
  The modern inbox is ripe for disruption — and companies are racing to cash in. A team of ex-Googlers...
  The modern inbox is ripe for disruption — and companies are racing to cash in. A team of ex-Googlers created a tool that uses AI to sum up emails for you — and it spits out a simple summary to save you time. Our writer decided to try it out, and found it helped, to an extent. More on that here.
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• ☕️What Else is Brewing Tuesday Morning
  Tesla, for the second time this year, cut prices on its Model X and Model S vehicles...
  Tesla, for the second time this year, cut prices on its Model X and Model S vehicles in the US. They’re now 4%–9% cheaper than they were in January.
  
  In other Elon Musk news, Twitter suffered its second outage in less than a week.
  
  Altria, the maker of Marlboro cigarettes, is buying e-cig startup NJOY for $2.75 billion. At the same time, it’s ditching Juul after losing more than $12 billion on its investment in the vaping company.
  
  The World Baseball Classic kicks off today for the first time in six years.
  
  
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• Investors see Fed reaching rate endpoint at 5.5%-5.75% in September
  Investors expect the Federal Reserve to push interest rates up...
  Investors expect the Federal Reserve to push interest rates up steadily by 25 basis points a meeting until the endpoint at a range of 5.5%-5.75% in September, according to the CME's FedWatch tool. Fed funds futures, a derivative product that traders use to place bets on the fluctuations in the Fed's policy rate, indicates investors expect the Fed to quickly reverse course from the peak rate and cut rates by 25 basis points at its next meeting in November. While Fed officials have said they plan to hold rates steady at a high rate for quite some, the market has stuck to its expectation of at least one quick cut followed by more cuts in the first half of 2024.
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