Finance
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US stocks tumble in after-hours trading over Trump's global tariffs
The SPDR S&P 500 ETF Trust, which tracks the S&P 500, lost about 2% in after-hours trading. The Invesco QQQ ETF which monitors the Nasdaq-100 Index, shed 3.3%, and the trust that follows the Dow lost 1%.
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Treasury Department sanctions alleged network of people helping secure weapons for Houthis
The network has procured tens of millions of dollars’ worth of commodities from Russia, including weapons, and stolen Ukrainian grain. The goods are then shipped to Yemen, which is under Houthi control.
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Stock market takes hit amid concerns over new Trump tariffs
The Dow Jones Industrial Average dropped more than 700 points on Friday, amounting to a 1.6% loss. The S&P 500 dropped nearly 2% and the Nasdaq composite lost 2.7%.
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Fed cuts rates by a quarter point
The Fed signaled that there will be less frequent rate cuts during 2025.
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Dow experiences longest losing streak since the late 1970s after ninth consecutive day of decline
A drop in UnitedHealth Group stocks amount to the most significant losses in the Dow. The company's stock has lost 18% of its value so far this month, which was largely triggered by the fatal shooting of UnitedHealthcare CEO Brian Thompson on Dec. 4.
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S&P Global warns Trump tariff plan could cost auto industry major profits
The report warned that premium auto companies could face the highest costs, including companies like Volvo and Jaguar, and that Trump's plans “will likely intensify the headwinds the global auto industry will face in an already challenging 2025."
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Macy's delays Q3 earnings release amid probe into employee allegedly hiding $154M in expenses
The company said the employee no longer works for Macy's, and that the person's actions did not affect its cash management and vendor payments. It is unclear if they are pursuing criminal charges.
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Warren Buffett gives $1.1B away as part of annual Thanksgiving tradition
Buffett has sworn to give away the majority of his $147 billion fortune before he dies, but has also outlined plans for his family to give away the wealth if he dies before he is able to donate it all.
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Trump expected to launch Bitcoin reserve, as the cryptocurrency nears $100,000,
When Trump was on the campaign trail, he promised he would develop a council that would be friendly to Bitcoin.
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Spirit Airlines files for Chapter 11 bankruptcy protection
The airline said its operations would continue uninterrupted as the bankruptcy process plays out
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Oprah Winfrey received $1 million from VP Harris during campaign: report
The Washington Examiner reports that Harris paid $1 million to Harpo Productions on Oct. 15.
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Fed cuts its key interest rate by quarter-point
The rate cut follows a half-point reduction in September.
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Stock markets close at record highs after Trump reelection
The Dow soared by 1,507 points, or 3.57% on Wednesday, marking the first time it has exceeded 1,000 points in a single day since November 2022. The Nasdaq gained nearly 3% on Wednesday, and the S&P 500 grew by 2.5%.