Stocks were lower at the halfway point Thursday in volatile trading, with the Dow Industrials down more than 1,000 points over two days. The S&P 500 fell more than a percent, while the Nasdaq fared slightly better.
The tech-heavy index saw fractional declines a day after a rout in tech stocks marked the worst market drop in eight months. Major tech companies like Microsoft ($MSFT), Facebook ($FB), and Alphabet ($GOOGL) had rebounded from Wednesday's losses with slight gains.
The continued sell-off was due in part to concerns about tightening monetary policy. President Trump has broken from tradition and repeatedly criticized the Fed for raising interest rates. He continued to attack Fed Chair Jerome Powell Thursday, saying he was "disappointed" in "far too stringent" rate hike decisions.
Earlier in the day, stocks briefly turned positive before extending their losses.
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The pandemic yielded government financial support and (eventually) a surprisingly strong job market — but racial wealth disparities grew. Why is it so difficult to close the wealth gap?
Plenty of retailers and suppliers are reducing the variety of their offerings to focus instead on what they think will sell best. Many businesses have decided less is better, justifying their limited selection by asserting shoppers don’t want so much choice.
Joe Pompliano, author of the Huddle Up newsletter, breaks down the biggest moments from Super Bowl LVIII, from potentially record-breaking viewership to Taylor Swift’s highly anticipated appearance.
David Wright, President and owner of Wright Financial Group, shares his thoughts on why the Federal Reserve seems hesitant to cut rates, and why regional bank stocks could help move the needle.
Disney and Fortnite-maker Epic Games will collab on making new video games with Disney characters. Hopefully it will be more than Mickey Mouse hitting the Griddy.
Hershey is cautioning on its 2024 profit growth as the company contends with rising cocoa costs, leading to increased prices for chocolate. The company anticipates its full-year earnings per share being relatively flat, partly due to higher cocoa and sugar costs.
Prince Harry has reached an out-of-court settlement with a tabloid newspaper publisher that invaded his privacy with phone hacking and other illegal snooping. Attorney David Sherborne said that Mirror Group Newspapers had agreed to pay Harry’ “substantial” costs and damages.
