1w ago
       

Dow dives nearly 800 points on fears of economic slowdown

The Dow Jones Industrial Average plunged on Tuesday amid fears of an economic downturn, led by disappointing bank earnings and unresolved trade issues between the U. S. and China. On Tuesday, President Trump has declared himself a "Tariff Man" in tweeting about the state of progress with China, doubling down the threat to raise tariffs on Chinese goods if a deal isn't solidified. "People think there is not 'substance' behind Trumps tweets about tariffs so the markets are giving back the gains from before the G20 meeting," Michael Matousek, head trader at U. S. Global Investors, told ABC News.
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2w ago
       

Dow ends flat, paring early losses after Chinese tech exec's arrest

The Dow Jones Industrial Average ended flat Thursday, paring intraday losses of nearly 800 points that were stoked by fears of a sidelined trade deal after a Chinese telecom executive was arrested in Canada on behalf of the U. S. , adding to concern about trade tensions with China. "Investors initially took the arrest of Chinese telecom giant Huawei’s chief financial officer as a negative signal on U. S. -China trade relations only to erase most of those losses by the close on hopes the Fed will slow its interest rate hikes to boost the economy," Alec Young, managing director of Global Markets Research, FTSE Russell told ABC News. "Traders are reducing the odds of a trade deal with China since the arrest of Huawei’s CFO," Michael Matousek, head trader at U. S. Global Investors, told ABC News.
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1m ago
       

Amazon announces new headquarters in New York City, Virginia

Amazon on Tuesday said it chose New York City and a suburb of Washington, D. C. , as the locations for its new headquarters. “We are excited to build new headquarters in New York City and Northern Virginia,” said Jeff Bezos, founder and CEO of Amazon, in a statement. Other critics dismissed the 14-month search for a new headquarters as a publicity stunt or an attempt to extract valuable information from cities that Amazon could use to make future decisions that would benefit the company with an unfair advantage over its competitors.
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1m ago
       

Wages surge as US adds a robust 250,000 jobs in October

In the final major economic report before Tuesday's congressional elections, the government said Friday that U. S. employers added a robust 250,000 jobs in October. Healthy economic growth is spurring employers to hire at a rapid pace that shows no sign of flagging even with the economy in its 10th year of expansion. The strong job growth and bigger pay increases will likely encourage the Federal Reserve to keep raising short-term interest rates.
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2m ago
       

Stock market plunges, Dow and S&P are now negative for the year

The stock market plunged on Wednesday, with both the Dow Jones Industrial Average and SP 500 closing in negative territory for the year. "Stocks have surrendered all of their hard won 2018 gains as rising interest rates, slowing Chinese growth, simmering trade tensions, and midterm election jitters have combined to cloud the economic and profit outlook," said Young. The central bank moved the federal funds rate a quarter percentage point higher for the third time this year in September, to a range of 2 to 2. 25 percent, and one more rate hike is expected this year.
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2m ago
       

Dow plunges another 500 points, massive sell-off extends into 2nd day

The recent rise in interest rates, while not sudden, is adding to investors anxiety about the markets, Mike Matousek, head trader at U. S. Global Investors, told ABC News. The Associated Press Ryan Falvey The Associated Press Gregory Rowe Innes, the Singapore-based head of Head of Trading for Asia Pacific with OANDA, attributed the slide to a combination of factors, including the possibility further interest rate hikes and the battle over tariffs between the U. S. and China. Asia stock indexes added to the global market's pain on Thursday, with benchmarks in Shanghai, Shenzhen and Tokyo all skidding between 4 and 5 percent.
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2m ago
       

Dow Jones sinks as bond yields rise

The losses were widespread, and stocks that have been the biggest winners on the market the last few years, including technology companies and retailers, suffered steep declines. Alec Young, managing director of global markets research at FTSE Russell, said investors fear that rising interest rates and growing expenses are going to erode company profits next year. Technology and internet-based companies are known for their high profit margins, and many have reported explosive growth in recent years, with corresponding gains in their stock prices.
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2m ago
       

Marketing officer explains how a frozen dessert caught fire

Q. Why did you think the time was right for mochi ice cream?We came out with My/Mo mochi ice cream, which is a full dairy experience. So a few months ago we launched our My/Mo ice cream with mochi bits.
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2m ago
       

Here today, ghosting tomorrow _ workers just disappear

He'd been ghosted: The receptionist ended the work relationship in much the same way many people end romantic associations, without a text, email, or call. Bret Bonnet was ghosted on what would have been an employee's first day of work, just hours after the would-be staffer texted him, "See you tomorrow, boss man!"Chris Yoko recalls a staffer at his website design company who telecommuted, missed a deadline and turned in incomplete work a few days later.
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3m ago
       

US-Canada trade deal may mean higher car prices

The U. S. and Canada squeezed out a last-minute deal to revamp the North American Free Trade Agreement with a pact expected to affect prices on cars and dairy products across North America and allowing President Trump to deliver on one of his go-to campaign promises. ABC News, Office of the U. S. Trade Representative, AFL-CIO USMCA: What's New In addition, 75 percent of auto parts now need to come from one of the three countries to stay duty-free, according to the agreement. Sean Kilpatrick/The Canadian Press via AP Canadian Prime Minister Justin Trudeau, left, and Minister of Foreign Affairs Chrystia Freeland hold a news conference regarding the United States Mexico Canada Agreement (USMCA) at the National Press Theatre, in Ottawa, Ontario, Oct. 1, 2018.
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