News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Stocks Retreat After Dow Crosses 26000 Milestone

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The Dow Jones Industrial Average surged above 26000 for the first time Tuesday, but gave up those gains as shares of energy and chemical companies declined.

Just Another Day for Bitcoin-a 25% Plunge

The price of bitcoin plunged by as much as 25% amid concerns about tighter regulation, with the volatile virtual-currency dipping below $11,000 for the first time since early December.

Disputes Threaten 'Dreamer' Deal and Shutdown

Senators worked Tuesday to salvage a bipartisan plan to protect 'Dreamers'-young undocumented immigrants brought to the U.S. by their parents-as the divide grew over an immigration deal seen as key to avoiding a government shutdown this weekend.

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China's Hot Housing Market Begins to Cool

In Beijing and Shanghai-two China's largest housing markets-and other megacities, property sales have stalled and prices have dropped, and the high levels of debt that fueled a housing boom make the slowdown particularly perilous.

States, Activists Challenge FCC Rollback of Net-Neutrality Rules

State attorneys general and internet activists filed legal challenges to the Federal Communications Commission's recent rollback of Obama-era internet regulations, launching a legal battle that could go on for years.

CFPB to Reconsider Obama-Era Payday-Lending Rule

The Trump administration's acting head of the Consumer Financial Protection Bureau plans to reconsider the first-ever federal restrictions on high-interest payday loans, a step that could lead to the easing of a rule opposed by the industry and some Republicans.

Why New Tax Law Cost Citigroup, GM $29 Billion

Two of America's biggest companies-Citigroup and General Motors-announced a combined $29 billion charge against earnings because of the new tax law. The primary reason for the charges is something that eventually will benefit companies, the corporate tax rate going to 21% from 35%.

Oil Edges Down After Recent Strong Gains

Oil prices fell Tuesday, breaking a streak of gains and raising questions about whether oil's recent rally is running out of steam.

Stocks Roared Under Trump, Boosted by Earnings and Tax Cut

U.S. stock markets soared to records during President Trump's first year in office, benefiting from a mix of pro-business policies, steady corporate earnings and a rebound in global economic growth.

Battle Stations: U.S. and China Prepare for Trade Clash of the Titans

A trade war between the U.S. and China would be more bruising and protracted than the battles that raged in the 1980s over Japanese exports, and would risk taking down the entire global trading architecture.

(END) Dow Jones Newswires

January 16, 2018 23:15 ET (04:15 GMT)