Key Points
- Chip and tech stocks across Asia opened sharply lower Wednesday morning, following a steep plunge in Nvidia’s share price in the U.S. overnight.
Asian chip stocks fall after Nvidia sell-off on Wall Street overnight
Finance
Yellen says Powell probe ‘extremely chilling’ for Fed independence, market should be concerned
Treasury Secretary Janet Yellen speaks with CNBC from the New York Federal Reserve on Sept. 26th, 2024. David A. Grogan | CNBC Former Federal Reserve Chair Janet Yellen on Monday condemned an investigation into her successor, Jerome Powell, saying it compromises the central bank’s independence. Yellen, who served as Treasury secretary after leaving the Fed, […]
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Finance
Trump’s credit card rate cap plan has unclear path, ‘devastating’ risks, bank insiders say
Key Points Trump proposed a one-year 10% cap on the interest rates that American credit card companies can charge customers. Shares of Citigroup, JPMorgan Chase, Wells Fargo, Bank of America, Visa, Mastercard, American Express and Capitol One fell in response. It’s unclear how the cap would be enforced, and bank industry insiders say it would […]
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Finance
DOJ probe into Fed chair Powell is ‘Maduro’ warning from Trump, analyst says
Key Points U.S. stock futures fell on Monday after the Federal Reserve revealed the DoJ had opened an investigation into its chair, Jerome Powell. The probe raises questions over the central bank’s independence from Donald Trump’s White House and concerns over the credibility of Powell’s successor. One analyst told CNBC that the probe was Trump […]
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