⬇️ Dow drops more than 350 points as U.S. stocks end sharply lower
U.S. stocks ended sharply lower Wednesday, with all 11 of the...
U.S. stocks ended sharply lower Wednesday, with all 11 of the S&P 500's sectors falling, as higher interest rates and recession fears continued to weigh on the market as investors near the end of a bruising 2022.The Dow Jones Industrial Average DJIA closed more than 350 points lower, falling 1.1%, while the S&P 500 SPX slid 1.2% and the technology-laden Nasdaq Composite COMP dropped around 1.4%, according to preliminary data from FactSet. Energy was the hardest hit sector of the S&P 500 on Wednesday, down more than 2%. The S&P 500 has tumbled around 20.6% this year, FactSet data show.
The worst performing stocks in the S&P 500 for 2022
The biggest losers in the S&P 500 this year have erased $1.6 trillion in market value. Meta,...
The biggest losers in the S&P 500 this year have erased $1.6 trillion in market value. Meta, Tesla, and PayPal sit among the top 10 worst-performing stocks in the index that, like the rest of the market, have endured a brutal year. Here's the full list.
Bitcoin Miner Argo Will Avoid Bankruptcy With $100M Bailout From Novogratz’s Galaxy
Bitcoin miner Argo Blockchain (ARBK) will avoid filing for bankruptcy protection, after it agreed to...
Bitcoin miner Argo Blockchain (ARBK) will avoid filing for bankruptcy protection, after it agreed to sell its Helios mining facility in Dickens Country, Texas, to Galaxy Digital (GLXY) for $65 million.
The miner will also get a new $35 million loan from Mike Novogratz’s crypto-focused financial services firm, which will be secured by Argo's mining equipment, according to a statement sent to CoinDesk.
Oil drops 2% in light trading on China demand concern
NEW YORK (Reuters) -Oil prices dipped on Wednesday as traders weighed concerns over a surge in COVID-19...
NEW YORK (Reuters) -Oil prices dipped on Wednesday as traders weighed concerns over a surge in COVID-19 cases in China, the world's top oil importer, against the chances easing pandemic restrictions in the country will boost fuel demand.
China said it will stop requiring inbound travelers to go into quarantine from Jan. 8, a major step towards relaxing stringent curbs on its borders. However, Chinese hospitals have been under intense pressure due to a surge in COVID-19 infections.
Inflation-Wary Shoppers Pull Back as Goods Pile Up in Stores
The highest inflation in four decades is lashing consumers and pushing up prices for all of life’s...
The highest inflation in four decades is lashing consumers and pushing up prices for all of life’s necessities, not to mention the extras. Rising interest rates are pummeling the housing market, and war, extreme weather and extreme politics — not exactly the stuff of holiday spirit — are dimming the economic mood.
Inventory problems are adding to the stress. Retailers are still trying to offload piles of unsold goods after the pandemic delayed deliveries — with limited success. The buildup has even prompted sellers to tell suppliers to stop sending merchandise.
