*By Kristen Lee*
U.S. stocks accelerated losses at the end of the day Wednesday, with the Dow dropping 600 points and the Nasdaq on pace for its biggest monthly drop in a decade.
The Dow Jones Industrial Average closed the day down 608 points, the S&P lost more than 3 percent, and the tech-heavy Nasdaq lost nearly 4.5 percent.
The sell-off was driven in part by a Commerce Department report that home sales plunged 5.5 percent in September, which rattled investors who expected only a slight decline.
Tech stocks especially weighed on markets. Netflix ($NFLX) and chipmaker Nvidia ($NVDA) were both down nearly 10 percent, Facebook ($FB), down nearly 6 percent, and Google parent Alphabet ($GOOGL), down more than 5 percent.
Lead Analyst at TVREV, Alan Wolk, joins Cheddar to discuss the latest in media and business news, including why business at the box office may be slowing down.
With stubborn inflation sticking at about 2.8%, there’s a chance that the Fed won’t cut rates this year. That might be the smarter choice in the long run.
The health and wellness industry is booming, expected to hit $14 trillion by 2032. Equinox teamed up with Function Health to revolutionize health optimization.
Featherie, a line of sustainable and functional golf wear for girls, fills a void in the market, catering to the increasing number of female junior golfers.
The CEO of LiveOne, Rob Ellin, discusses the DOJ's lawsuit against Live Nation and Ticketmaster, how will if affect you and the future of live events. Watch!
