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Dow falls 740 points below 30K, housing hits skids, Musk’s Twitter meeting: LIVE UPDATES

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Breaking News

Dow craters 740 points below 30K, S&P sinks 3% and Nasdaq 4%


Investors pummeled U.S. stocks which are now at the lowest levels since 2020. The selling was complicated by worsening housing data, spiking mortgage rates and a no-confidence vote in the Federal Reserve after Wednesday’s 0.75% basis point rate hike. In commodities, oil rose 2% to $117.58 per barrel. 

Defensive stocks including Dow members Walmart, P&G, J&J and Merck bucked the selling with modest gains.

Posted by FOX Business Team

Posted by FOX Business Team
Developing Story

Dow sinks by triple digits


Dow Jones Averages.

The Dow Jones Industrial Average fell as much as 900 points before easing slightly with leading decliners Nike, American Express and Chevron, while Walmart and Procter & Gamble held up.

Posted by FOX Business Team
Breaking News

Elon Musk talks to Twitter employees

Twitter Inc.

Elon Musk, in his all hands meeting with Twitter, employees addressed a few top priorities, per reports...

Elon Musk is not concerned with being CEO of the company

He wants to hit 1 billion users

There needs to be a “rationalization” of headcount

Advertising is “very important” for the company

Source: Reuters 

Posted by FOX Business Team
Breaking News

Stocks tumble post Fed rally


U.S. stocks fell across the board as the post Fed rate hike rally faded and investors returned their attention to recession fears. New data on housing starts and permits showed a sharp pullback signaling a potentially steeper slowdown for homebuilders. In commodities, oil slipped to the $112 level. 

Posted by FOX Business Team

Stock futures plunge following post-Fed decision rally

U.S. equity futures fell Thursday morning as the post-Fed decision relief rally paused. Stock traders will be watching economic data such as jobless claims and housing starts that could influence trading.

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Posted by Ken Martin

Bitcoin continues downward trend

Bitcoin traded above $21,000 after falling in the overnight hours to a low of $20,111. Bitcoin enters Thursday on a nine-day losing streak, dropping more than 30% during that streak. The cryptocurrency is off more than 30% for the month and down more than 53% year-to-date. Ether traded around $1,100 and Dogecoin was at 5 cents.

Posted by Ken Martin

Gas price slides

The price of a gallon of regular gasoline slipped slightly Thursday morning to $5.009, according to AAA. The price on Wednesday was $5.014. Gas hit an historic milestone over the weekend reaching $5 a gallon. Diesel rose to a record at $5.786 up from $5.78.

Posted by Ken Martin

Oil prices see-saw

Oil traded choppy Thursday following a steep drop in the prior session, supported by tight oil supply and peak summer consumption, after the Federal Reserve raised interest rates.

U.S. West Texas Intermediate crude futures climbed to $115 a barrel. Brent crude futures rose to $119 a barrel.

Posted by Ken Martin

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