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Robinhood – the company that became a household name during the pandemic – is cutting staff, citing a deteriorating economy and worsening market.
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Stephen Buyer, a Republican representative from 1993 to 2011, was accused in court papers of engaging in insider trading during the $26.5 billion merger of T-Mobile and Sprint.
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All that whipsawing on Wall Street in the first half of the year reflects real nervousness. Investors are worried the Fed may tip the economy into a recession.
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Stocks sank a day after the Federal Reserve delivered its biggest rate hike since 1994.
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Stocks fell sharply on Monday after a stronger-than-expected inflation report spooked investors. The S&P 500 entered a bear market once again after briefly dipping into one last month.
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Stocks continue to slump on fears about inflation – and whether the Federal Reserve can bring down prices without sparking a recession.
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The declines come a day after the Federal Reserve raised interest rates by the most in over two decades as it embarks on a high-stakes fight to bring down inflation.
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Markets jumped after Fed Chair Jerome Powell said the central bank was not contemplating bigger rate hikes than the half-a-percentage-point increase it delivered on Wednesday.
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Stocks were pummeled on Friday with the Nasdaq slumping more than 4% to post its worst month since 2008. Why things have gotten so bad in Wall Street.
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The Dow dropped by more than 800 points as investors deal with a slew of concerns, including disappointing earnings and the prospect of sharply higher interest rates.