TRADING SCREENS ARE FLASHING RED: What you need to know
Finviz
To sign up, scroll to the bottom of this page and click "Get updates in your inbox," or click here.
Screens are flashing red.
Around midday New York time, the Dow was down 320, S&P 500 off around 35, and the Nasdaq down around 50. That followed on from tough trading conditions in Asia and Europe.
Boeing fell as much as 10% after reports the SEC is looking into its accounting practices, taking the Dow down with it. Solar firm SunEdison is getting punished for the second day in a row. 'Risk-off' trades like gold and US Treasuries are going crazy.
And, instead of cheering multi-billion dollar takeovers, investors now seem to find them alarming.
There are some funds delivering returns despite the volatile market, with computer-driven hedge funds outperforming. Bill Ackman, on the other hand, is getting annihilated.
On Wall Street, Morgan Stanley is paying a $3.2 billion fine for a precrisis 'magic' trick, HSBC has canceled its pay freeze, and Goldman Sachs president Gary Cohn has noticed a change in mindset in Silicon Valley.
In non-finance news, the first discovery of two colliding black holes fundamentally changed our perception of the universe.
So there is that.
Here are the top Wall Street headlines at midday:
KYLE BASS: There's a 'ticking time bomb' in China - Hedge fund manager J. Kyle Bass, the founder of Dallas-based Hayman Capital, has a warning about a "ticking time bomb" in the Chinese banking system.
Yet another sign the US economy isn't heading for recession ... - On Thursday morning the latest report on initial jobless claims in the US - a weekly survey on how many people have filed for unemployment insurance - fell to 269,000, lower than expected by the markets and a clear sign that the labor market is still strong.
The market for diamonds is totally messed up right now - It's a good time to talk about how messed up the world's diamond supply dynamics are right now.
Musk on the Model X: 'We over-engineered the car' - Tesla CEO Elon Musk told investors that the Model X SUV's delays were caused by the vehicle's extreme complexity.
JetBlue wants to invest in startups - JetBlue Airways will launch a Silicon Valley-based venture capital subsidiary.
- The Role of AI in Journalism
- 10 incredible Indian destinations for family summer holidays in 2024
- 7 scenic Indian villages perfect for May escapes
- Paneer snacks you can prepare in 30 minutes
- Markets crash: Investors' wealth erodes by ₹2.25 lakh crore
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market