Micron Technology Inc. faced significant turbulence on Thursday, with its stock price experiencing a staggering 16% decrease, marking its steepest decline since the onset of the Covid-19 pandemic in March 2020. As of early afternoon trading, shares dipped to $86.78, reflecting an alarming 45% drop from the company’s peak share price in June. This sharp
As Congress races against the clock to avert a government shutdown, a pivotal piece of legislation, the Social Security Fairness Act, is also under consideration in the Senate. This bill aims to rectify long-standing issues impacting public sector employees, particularly those affected by the restrictive Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO).
On a day when the Nasdaq Composite soared to unprecedented heights, Nvidia found itself grappling with a notable decline in its stock price. This divergence raises critical questions about the market dynamics surrounding one of the leading players in the artificial intelligence (AI) chip industry. With a staggering 166% increase in share value earlier in
On a notable Wednesday, Wall Street grappled with an unparalleled wave of volatility, with the CBOE Volatility Index (VIX) demonstrating an alarming spike of 74%. This sharp increase was triggered by the Federal Reserve’s recent announcement, which stunned investors by adjusting their projected interest rate cuts for the coming year. The VIX, often referred to
The auto industry stands at a pivotal junction, influenced not only by market dynamics but also by proposed tariff changes that herald significant implications for pricing. With the President-elect Donald Trump openly advocating for potential increases in tariffs on imported goods, the automotive sector could witness substantial shifts. Analysts and experts are carefully weighing these
In a climate marked by economic variability, the Federal Reserve’s decision to lower interest rates three times in 2024 has stirred debate and speculation among homeowners and potential buyers alike. With many Americans keenly observing the financial landscape, the prospect of declining mortgage rates leads to a sense of anxious anticipation. However, market analysts believe
In a surprising turn of events, the Federal Reserve announced its third interest rate cut of 2024 on December 19. Despite the central bank’s efforts to stimulate economic activity through lower borrowing costs, the opposite occurred in the mortgage market, where rates ballooned instead. Data from Freddie Mac revealed that the average rate on a
On Friday, Party City, a well-known player in the party supply industry, made headlines with the shocking announcement of closing all of its stores and laying off employees. This abrupt decision underscores a trend seen in the retail sector where financial instability, intensive competition, and changing consumer behaviors come together, leading to potential demise. CEO
In the fast-paced world of fintech, where fortunes can change overnight, Jason Wilk, CEO of digital banking service Dave, recently encountered an untenable crisis. His company, once valued at a staggering $5 billion, plummeted to a market capitalization of just $50 million within a single year—a stark reminder of the volatility inherent in the sector.
In a significant move tailored to protect consumer rights, the Consumer Financial Protection Bureau (CFPB) has initiated legal proceedings against Zelle, the widely utilized digital payment network, along with its banking associates—JPMorgan Chase, Bank of America, and Wells Fargo. The allegation presents a clear picture: these financial institutions have woefully neglected their responsibility to investigate