World
Japan’s Nikkei 225 drops more than 2% as Asia stocks fall following tumble on Wall Street
SINGAPORE — Shares in Asia-Pacific slipped Thursday morning after heavy losses on Wall Street overnight. The Nikkei 225 in Japan slipped 2.63% in early trade while the Topix index shed 2.31%. Japan’s exports rose 12.5% year-on-year in April, data from the country’s Ministry of Finance showed Thursday. That was lower than expectations for a 13.8% […]
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Strategist says U.S. stocks are undervalued right now — and names his top picks to buy the dip
Morningstar’ s David Sekera thinks the market sell-off is looking overdone — and reveals the tech stocks he thinks are attractive right now, as well as his picks to ride the return of consumer spending. After years of beating the market, tech stocks have been slammed this year as expectations of aggressive tightening by the […]
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The sell-off has entered ‘a new phase,’ Allianz’s El-Erian says. How investors can deal with it
Wednesday marked a new chapter in the market sell-off, as investors fled stocks and sought safety in bonds, according to Allianz chief economic advisor Mohamed El-Erian. “Today’s a new phase as opposed to just a continuation of what we’ve seen,” he said on CNBC’s ” Closing Bell ” on Wednesday. “Initially this was a sell-off […]
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Under Armour CEO Patrik Frisk to step down, interim chief will take over June 1
Patrik Frisk, recently appointed Chief Executive Officer Of Under Armour, speaks at the 2020 Under Armour Human Performance Summit on January 14, 2020 in Baltimore, Maryland. Olivier Douliery | AFP | Getty Images Under Armour said its president and chief executive officer, Patrik Frisk, will be stepping down, effective June 1, as the sportswear retailer […]
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Apple may have to slide a lot further before the market sell-off stops, trader says
Investors looking for an end to the ferocious selling of 2022 should watch Apple, which may have to tumble a good deal further yet before a market bottom is put in, according to trader Danielle Shay. The tech bellwether already is down 20% this year after a 5% drop Wednesday sent the stock into a […]
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Novogratz says UST was a ‘big idea that failed’ after collapse, but he’s still confident in crypto
Crypto investor Michael Novogratz has broken his silence about the collapse of the Terra ecosystem, saying in a letter on Wednesday that he was confident in the industry over the long term. Novogratz’s investment firm Galaxy Digital invested in luna, the sister coin of TerraUSD, also known UST, in the fourth quarter of 2020 using […]
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Why Tesla was kicked out of the S&P 500’s ESG index
An aerial view of the Tesla Fremont Factory on May 13, 2020 in Fremont, California. Justin Sullivan | Getty Images The S&P 500 booted electric vehicle maker Tesla from its ESG Index in an annual rebalancing. Meanwhile, Apple, Microsoft, Amazon and even oil and gas multinational Exxon Mobil were included on the list. The S&P […]
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Here are some hedge funds that foresaw the tech fallout. And some that didn’t
This year’s tech-driven carnage in the stock market is carving out hedge fund winners from losers — showing up in diverging fortunes that haven’t been seen in years. Hedge funds that rode the tech wave up are getting crushed on the way down, especially those that doubled down on 2022’s biggest laggards in the first […]
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Joyn Bio aims to solve the world’s fertilizer problem with microbes
Plants at the Joyn Bio greenhouse in Woodland, Calif. Photo courtesy Joyn Bio Nitrogen fertilizer is crucial to growing crops and feeding the global population. But it’s expensive, in critically short supply, and is a contributor to climate change because the process to make it releases greenhouse gases. It’s a thorny problem, but microbes may […]
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European stocks close lower as UK inflation hits 40-year high; Stoxx 600 down 1.1%
LONDON — European stocks closed lower on Wednesday as fears over inflation rattled markets on either side of the Atlantic. Stock picks and investing trends from CNBC Pro: Global markets have remained bogged down by fears of aggressive monetary policy tightening and slowing economic growth. Earnings before the bell came from ABN AMRO, Burberry, British […]
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