Monday on CNBC’s “Squawk Box,” Allianz Chief Economic Adviser Mohamed El-Erian warned that sticks have even further to go as markets begin a sell-off triggered by turmoil in the Chinese economy. El-Erian blamed central bank policies, which have inflated stock prices
The Dow Jones industrial average has plunged more than 530 points and is in a correction amid a global sell-off sparked by fears about China’s slowing economy. Oil tumbled below $40 per barrel for the first time since the financial crisis.
The Greek stock market was shut down five weeks ago, as the nation spiraled into an economic and political crisis, facing its final debt showdown with European creditors. The market just concluded its first day of trading since the shutdown, and the outlook is grim: the market lost 16.2 percent of its value on the first day back in business.
“We do not expect to see sustained meaningful growth in [monthly active users] until we start to reach the mass market,” Twitter’s interim CEO Jack Dorsey warned. “We expect that will take a considerable period of time.”
The China Digital Times reports on some strict instructions from the Chinese communist government to media outlets on how to cover the Chinese stock market collapse. Among other things, reporters were instructed not to refer to it as a “collapse.”
In its last quarter that will be impacted by innovation on Steve Jobs’ watch, Apple booked strong quarterly revenue and earnings yesterday. But the company had to admit that existing Apple customers were slow to upgrade to new iPhone releases and Apple as a status symbol in China may be coming to an end. The stock plunged by -10 percent, or about $80 billion, before recovering somewhat today. But as Breitbart News warned last month, ‘Apple Products: Without Steve Jobs, the Thrill is Gone.’
China is teetering on the edge of a 1929-style stock market meltdown, and Greece might be about to exit the Euro. China is worried about what the Grexit, or an even larger collapse of the Euro, might do to its house-of-cards stock market. Everybody else is worried about what a Chinese collapse could do to their markets, especially since Western socialists have sold so much of their own nations to China over the years.
The world’s biggest online social network knocked the world’s largest retailer out of the top 10 list of the highest-valued companies in the Standard & Poor’s 500 index on Monday and the gap widened on Tuesday.
If Robin Leach visited the headquarters of Fibit, Inc. in San Francisco today, it would be all “champagne wishes and caviar dreams” as the leading wearable fitness tracker raised $793.5 million at a stunning valuation of $4.1 billion in the largest initial public offering (IPO) by any consumer electronics company in history.
On Monday, Saudi Arabia’s stock markets, the biggest in the Middle East, were open to foreign investors for the first time in history.
15 years after the Dot-Com Bubble burst, the Nasdaq Composite Index leapt by 20.89 points, or 0.4%, to close at 5056.06 on Thursday, a record high. The strength of the index is being driven by the Silicon Valley 150 tech companies that have provided the juice to lift the NASDAQ by 6.8%, despite U.S. stock performance trailing major world markets.
A British trader operating out of his parents’ West London semi is facing extradition to the US following allegations that he in part caused a stock market ‘flash crash’. Almost £570billion was wiped off the value of America’s biggest companies
Netflix, Inc. beat its aggressive prediction that it would add 4 million new streaming subscribers in the quarter ending March by adding 4.88 million subscribers. After shares leaped 47% over the past three months, the fabulous numbers sent the stock up about 11 percent to $531 in after-hours trading on Wednesday.
Self-proclaimed “ungodly rich” owner of the NBA’s Dallas Mavericks appeared as a guest on ESPNU’s “The Herd with Colin Cowherd” on Friday to discuss the globalization of sports and social issues. According to Cuban, with the way the financial system
Investors celebrated the NASDAQ stock market topping the 5,000 level this week for the first time since March 2000. But there were no celebrations in Sacramento for the anniversary of the last time that California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS) were over 100 percent funded.
Apple (AAPL: NASDAQ) may have printed the largest quarterly earnings in the history of capitalism, but the smartphone market is moving against the future of the Apple iPhone as Google’s Android operating system software gains market domination.
