Wall Streets

Wall Street falls sharply to close its worst week in nearly 18 months

Another rout hit Wall Street Friday, with formerly high-flying technology stocks again taking the brunt, after a highly anticipated update on the US job market came in weak enough to add to worries about the economy. The S& P 500 dropped 1.7 per cent to close out its worst week since March 2023. Broadcom, Nvidia and other tech companies drove the market lower amid ongoing concerns that their prices soared too high in the boom around artificial intelligence, and they dragged the Nasdaq composite down by a market-leading 2.6 per cent. The Dow Jones Industrial Average dropped 410 points, or 1 per cent, after erasing a morning gain of 250 points. Sharp swings also hit the bond market, where Treasury yields tumbled, recovered and then fell again after the jobs report showed US employers hired fewer workers in August than economists expected. It was billed as the most important jobs report of the year, and it showed a second straight month where hiring came in below forecasts. It also ..

Wall Street T+1 switch is causing more pain than we thought: Citigroup

The T+1 shift was a global event for the financial industry because it affected every institution and investor with cash in the US capital markets

Nvidia suffers record $279 billion loss in market value as Wall St drops

Nvidia lost $279 billion in market capitalisation, a major indication that investors are becoming more cautious about emerging AI technology that has fueled much of this year's stock market gains

Wall Street plunges as US recession fears jolt global mkts; Apple falls 4%

Nvidia slid 5.6% after reports of a delay in the launch of its upcoming artificial-intelligence chips due to design flaws. Microsoft and Alphabet fell about 3% each

Asian stocks remain on back foot as wild week winds down, Yen steady

Regional stocks took their cues from Wall Street, where the S&P 500 and tech-heavy Nasdaq slipped further after Wednesday's frenetic selling

World stocks dip amid economic uncertainty, global outage disruptions

European shares slipped, Asia shares fell following an overnight selloff on Wall Street, and U.S. stock futures pointed to a weaker open later in the day.

Once hottest thing on Wall Street, where have all Chinese IPOs gone?

Wall Street has not seen anything close to a blockbuster Chinese IPO in three years

Asian shares drop after Wall Street closes another winning week

Asian shares were mostly lower Monday after US stocks coasted to the close of their latest winning week on Friday, even as Nvidia's stock cooled further from its startling, supernova run. US futures and oil prices dropped. In Tokyo, the Nikkei 225 index rose 0.7 per cent to 38,869.94, making it the sole major benchmark in Asia to post gains on Monday. The yen weakened to 159.93 per dollar during morning trading. Minutes of the Japanese central bank's last policy meeting released Monday put the yen under renewed pressure as it indicated that Any change in the policy interest rate should be considered only after economic indicators confirm that, for example, the CPI inflation rate has clearly started to rebound and medium-to long-term inflation expectations have risen. Meanwhile, it was reported that Masato Kanda from the Minister of Finance said officials are ready to intervene to support the currency at any time. Elsewhere, Hong Kong's Hang Seng dropped 1.2 per cent to 17,815.42,

Asian shares remain steady, dollar firm ahead of US inflation data report

European markets are also set to open slightly higher, with EUROSTOXX 50 futures up 0.3 per cent and the FTSE futures gaining 0.4 per cent

Wall Street's faster trade settlement sees some temporary processing bumps

The shift in the world's largest financial market is aimed at making market infrastructure more resilient, but investors and regulators braced for increased trade failures and other hiccups

Asian shares drift after rally, Wall Street reopens amid rate cut bets

Japan's Nikkei, on the other hand, slipped 0.3 per cent, reversing some of the 0.7 per cent advance a day ago

Wall Street tumbles as AI Nvidia's fervor dampened by rate jitters

All three major US stock indexes gathered downward momentum in afternoon trading, ending the session deep in red territory

Asian stocks rides Wall Street rally, dollar sags on US inflation relief

Gold marched back toward record levels, and crude oil added to gains after rebounding strongly

At $2 million per minute, US Treasuries mint cash like never before

The numbers tell the story. Last year, investors pocketed nearly $900 billion in annual interest from US government debt, double the average over the previous decade

Moody's tops quarterly profit estimates on back of strong product demand

Moody's Investors Service revenue grew 35%, fueled by improved market conditions and opportunistic activity which drove strong issuance across multiple asset classes, said CFO Noemie Heuland

Amazon beats estimates; AI boosts cloud growth, revenue forecast lags

Shares of the Seattle-based e-commerce and tech company climbed less than 2 per cent in extended trade after its current-quarter revenue forecast came in below expectations

Visa results beat Wall Street estimates on resilient consumer spending

Credit card giant American Express also beat expectations for first-quarter profit last week

Troubles for Indian IT firms linger as clients tighten their budgets

Accenture Plc lowered its revenue outlook last month, citing a pullback in software spending by Wall Street firms, which are among the Indian companies' biggest clients

Citigroup's new hire Raghavan - a no nonsense, hard-charging dealmaker

After four years co-running JPMorgan's global investment banking franchise, Raghavan, 57, is now set to take over Citigroup's entire Wall Street operation

From Dreamer to Doer: Vipul Bansal's Inspirational Journey to Wall Street

By Priyanka Gupta