Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Stock Market

29 Jun 2022

Wall Street Lose Balance after recession strikes growth fear among consumers’

The Index Today

On Tuesday, Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up the fear over looming earning sessions.

The S&P and the Nasdaq fell about 2% and 3% respectively, with Apple Inc (NASDAQ: AAPL), Microsoft Corp (NASDAQ: MSFT), and Amazon.com (NASDAQ: AMZN) weighing the heaviest. The blue-chip Dow shed about 1.6%.

With the fourth July holiday weekend approaching, it looks like the market will stumble to it low during the next month.

With several weeks to go until second-quarter reporting commences, 130 S&P 500 companies have pre-announced. Of those, 45 have been positive and 77 have been negative, resulting in a negative/positive ratio of 1.7 stronger than the first quarter but weaker than a year ago, according to Refinitiv data.
Nike Inc (NYSE: NKE) slid 7.0% following its lower-than-expected revenue forecast.

Shares of Occidental Petroleum Corp (NYSE: OXY) advanced 4.8% after Warren Buffett's Berkshire Hathaway (NYSE: BRKa) Inc raised its stake in the company.

Clay pottery with table linens