NEW YORK—Technology stocks are bearing the brunt of a recent market selloff, putting a spotlight on how an extended downturn in the sector could weigh on broader equity indexes. After Monday’s sharp drop, the S&P 500 technology sector is down 6.7 percent since the overall S&P 500 closed at a record on Sept. 2, compared…
Investors Eye Big Tech as Stock Market Wobbles
October 5, 2021
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US House Panel Considers Bill Curbing Dual-Class Stock
October 2, 2021
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NEW YORK—A U.S. House of Representatives panel plans to discuss a draft bill requiring companies that go public with dual-class stock to sunset the structure after seven years, according to a copy of the proposed legislation published late Thursday. Dual-class share structures, which give some stockholders more voting power, are out of favor among investors,…
Senate Banking Chief Plans Bill to Address Fed Officials’ Stock Trades
September 28, 2021
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The head of the U.S. Senate Banking Committee on Tuesday said he plans to introduce legislation that would ban ownership of individual stocks by Federal Reserve officials in the aftermath of revelations that two reserve bank presidents had been active investors. Democratic Senator Sherrod Brown of Ohio told Fed Chair Jerome Powell of his intent…
Asian Stock Markets Jittery as China Evergrande Woes Sap Confidence
September 24, 2021
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Asian shares were on edge on Friday (Sept. 24) hurt by persistent uncertainty around the fate of debt-ridden China Evergrande, even as more risk appetite drove gains for Wall Street and U.S. benchmark Treasury yields. Hong Kong markets opened slightly down with its benchmark Hang Seng Index starting Friday’s trade at 24,487.24 dipping 0.1 percent….
Stocks Are Up but Overall Outlook Is Far From Certain
Commentary The biggest news over the past week must include U.S. jobs growth. News of the nearly 1 million more jobs available in a month is certainly exceptional. Before 2020 when the United States achieved historically low unemployment rates, one-fourth or one-fifth of this was regarded as significant. The latest release called the Federal Reserve…
Robinhood to Buy Shareholder-Communications Company
NEW YORK—Robinhood, the trading app that’s brought millions of new investors to the stock market, is buying a company that helps people communicate with the businesses whose shares they buy. Robinhood Markets said Tuesday that it agreed to buy Say Technologies for about $140 million in cash. Say helps publicly traded companies hear what questions…
US Retailers Scramble to Stock Shelves as Children Head Back to School
LOS ANGELES/NEW YORK—At Stationery and Toy World, a family-owned shop in New York’s Upper West Side, manager Gary Rowe is having difficulty getting all the pens and folders he ordered for the important back-to-school season. His usual vendors have low stocks of Pilot’s erasable FriXion pens and Paper Mate Flair marker pens— and prices are…
Chinese Education Stocks Plunge as CCP Announces It Will Take Part in Operation of Private Schools
Chinese education providers saw a slump in stock prices as Beijing announced that private schools should adhere to the leadership of the Communist Party under a new law. Experts consider that the regime plans to further erode the operational independence of the education system. The amended Private Education Promotion Law highlights the leadership of the…
Posted Ancient Poem Likely Criticizing Beijing Rattles Stock Market
A Chinese billionaire rattled the stock market by quoting an ancient poem on social media, reflecting on the fall of the Qin Dynasty—the first empire in China. Although the post was later deleted, his company’s stock plunged to a new low of the year. “The Book Burning Pit,” read as “Fen Shu Keng” in Chinese,…
Chinese Drone Maker’s Stock Plunges as Short-Seller Takes Aim
NEW YORK—Drone manufacturer EHang Holdings Ltd’s shares plunged on Tuesday after an investment research firm said it had shorted the stock and questioned the accuracy of what the Chinese company has said about its business. Guangzhou, China-based EHang’s shares closed 62.7 percent lower at $46.30 on Nasdaq. Wolfpack Research, which specializes in short-selling, or betting…
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