What you need to know on Wall Street right now

REUTERS/Carlos Barria

Newly-elected General Secretary of the Central Committee of the Communist Party of China (CPC) Xi Jinping speaks as he meets with the press at the Great Hall of the People in Beijing, November 15, 2012.

The strength of the US dollar is forcing China down a path it has been trying to avoid for years, pushing it to slow the money machine that has propelled its economy since 2008. This is a moment many China watchers have been waiting for - it just didn't come how, when, or why they thought it would.

In other news, the CEO of a $3.9 trillion fund giant has a message for money managers everywhere. George Soros reportedly lost about $1 billion after Trump's election. And the CIO of a $490 billion fund told us the one "guaranteed losing approach" to investing.

In banking, a job advert for 'Assistant Head Butler' at Rothschild & Co offers a rare glimpse inside one of the oldest investment banks in the world.

And in autos, the EPA is now going after Fiat Chrysler for emissions cheating, and its shares are plunging.

In tech news, Amazon says it will create 100,000 full-time, full-benefit jobs in the US. Apple is reportedly planning a major push into original TV shows and movies. And Blackberry is quietly trying to make a comeback - but not with phones.

Lastly, here are the 25 best beaches in the world.

Here are the top Wall Street headlines from the past 24 hours

160 million Americans can't afford to treat a broken arm - A lot of Americans are really struggling.

SAN FRANCISCO BANKER: Here's why we could see up to 90 IPOs this year - With 2016 marking the second straight year during which we saw a meaningful decline in the number of technology IPOs (20 tech IPOs down from 34 in 2015, and 60 in 2014) we expect to see a significant rebound in the year ahead.

NYSE to expand floor trading to all US equity securities - The New York Stock Exchange will make all US securities available for trading on the NYSE floor by year-end, giving investors another, less speed-dependent, way to trade securities such as Nasdaq-listed stocks and exchange-traded funds.

Morgan Stanley weighs in on the 9 big questions that will dominate Wall Street in 2017 - Morgan Stanley has released a big report on the "Big Debates" of 2017, which highlights the key questions they think will shape global markets over the next 12 months.

VW pleads guilty to 3 felonies and will pay $4.3 billion relating to emissions scandal - Volkswagen announced that it will to plead guilty to three felonies as part of its settlement with the US government stemming from the company's emissions cheating scandal.

McDonald's is shopping 33% of its Japanese unit - McDonald's is reportedly inviting bids for a significant stake in its Japan unit McDonald's Holdings Co. Japan Ltd.

18 of the highest-paying consulting firms for MBAs - Even straight out of school, earning an MBA means a healthy salary bump for graduates, especially in lucrative industries like consulting.

5 ways to spot a fake diamond - One of the most common questions that gemologists are asked is how to tell the difference between a real diamond and a fake stone.

You can now fly from the US to Europe for $70 - but one day it might be free - WOW Air announced that for a limited time it will offer tickets from the West Coast of the United States to Europe for as low as $69.99.