Mark Zuckerberg lost $29 billion in net worth on Thursday as Meta Platforms Inc’s stock marked a record one-day plunge, while fellow billionaire Jeff Bezos was set to add $20 billion to his personal valuation after Amazon’s blockbuster earnings. Meta’s stock fell 26 percent, erasing more than $200 billion in the biggest ever single-day market […]
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In previous articles, we covered what the metaverse is. It is the future of the digital world – a blockchain-based internet owned by everyone in a sense. Still, some will inevitably find wealth while others will let the opportunity slip or end up taking the short stick, and so many are wondering how to invest […]
Following Washington’s decision to ban China Unicom from providing service in the U.S., Beijing has condemned the move as baseless, vowing to protect its operations’ “legitimate rights and interests” in the U.S. market. The U.S. Federal Communications Commission (FCC) made a bold move to revoke the Chinese-backed telco’s license, prohibiting it from delivering further services […]
Shares in Facebook owner Meta fell 20 percent in U.S. premarket trade on Thursday after the social media giant issued a dismal forecast, blaming Apple’s privacy changes and increased competition. The shock drop, which comes before Amazon earnings later in the day, spilled over to Europe where technology led sectoral fallers with a decline of […]
The Nasdaq was set to extend gains for the fourth straight session on Wednesday, following a turbulent start to the year, as Google-parent Alphabet and chipmaker Advanced Micro Devices’ shares surged after strong quarterly results. Alphabet Inc rose 8.2 percent after reporting record quarterly sales on Tuesday, and said it plans to undertake a 20-to-one […]
The largest U.S. labor organization said Monday it strongly supported a U.S. House of Representatives bill designed to improve competition with China, boost U.S. semiconductor production and reform key trade provisions. The AFL-CIO trade federation representing 12.5 million workers said in a letter to lawmakers the bill’s $52 billion for chips is critical to “addressing […]
The Nasdaq’s loss on Wednesday left it down nearly 11 percent from its November record high close, marking the fourth time in the nearly two years since the coronavirus pandemic shook global markets that the tech-heavy index has found itself in a correction. The index of over 3,600 stocks traded on the Nasdaq exchange has […]
Wall Street’s main indexes were set to open lower on Tuesday as technology stocks were slammed by rising Treasury yields, while Goldman Sachs led declines among big banks after posting its quarterly profit below expectations. Two-year Treasury yields, which track short-term rate expectations, crossed 1 percent for the first time since February 2020 amid traders […]
Asian shares took a beating on Friday after a fresh salvo of hawkish remarks from Federal Reserve officials solidified expectations that U.S. interest rates could rise as soon as March, leaving markets braced for tighter monetary conditions. Fed Governor Lael Brainard became the latest and most senior U.S. central banker on Thursday to signal that […]
U.S. stock index futures edged higher on Wednesday, with investors bracing for consumer prices data that is expected to show an almost four-decade high in December, while big technology stocks bounced after a bruising selloff at the start of the year. Growth and technology stocks, hit by rising Treasury yields and hawkish commentary from the […]