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Stock Market News: Debt ceiling looms, IRS mulls new tax prep arm, EU on Microsoft-Activision deal

Investors are waiting on lawmakers and President Biden to restart debt talks as early as Tuesday as the deadline looms, shares of tax preparers H&R Block and Intuit fell as the IRS reportedly mulls creating their own rivals and European regulators may decide on Microsoft’s $69 billion acquisition. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.


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Household debt soars

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SoFi shares sink

Sofi Technologies.

Shares of SoFi sank after Wedbush Securities cut the stock to underperform from neutral raising concerns about capital levels.

In a January interview with FOX Business, CEO Anthony Noto explained the financial firm's strategy to take on big banks. This preceded the collapse of Silicon Valley Bank and Signature Bank.

Posted by FOX Business Team

Home Depot, Target and Walmart

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