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Tech-heavy Nasdaq registers its lowest close since July 2020

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Tech stocks drop

The Nasdaq has shed a full percent in its lowest close since July 2020

Investors are worried about the impacts of rising interest rates and global inflation.

It follows a string of events like U.S. restrictions to limit China’s semiconductor market, and tighter monetary policies.

The U.S Fed Reserve says economies are slowing faster than expected, but the full brunt of interest rate increases won’t happen for months.

Jimmy Lee is from the Wealth Consulting Group, who shines a light on the evolving situation.

As investors wait for more inflation data, there are third-quarter earnings posting later this week.

Major banks are set to drive some of the big changes on Friday.

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.

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Did the Simpsons predict Musk’s Twitter takeover?

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New Twitter boss Elon Musk claims The Simpsons predicted his takeover years ago

Elon Musk has alluded to the fact that The Simpsons predicted his takeover of Twitter in a 2015 episode.

The episode titled “The Musk who fell to Earth” showcases Lisa Simpson feeding birds in a letter box with the label “Home Tweet Home.”

During the episode, Musk flies in on his rocket ship before meeting the Simpsons family.

Before Musk leaves, the show throws to the bird house. Lisa Simpson then says “I guess humanity wants its change one bird house at a time.”

Fans of the series have been quick to jump on its so-called prediction capabilities. They often draw parallels between the episodes and monumental events in history.

Lovers of the show are convinced it predicted Donald Trump’s Presidential run, Disney’s purchase of Fox and the 9/11 attacks.

More recently, they’re certain the show predicted England and America’s 2022 World Cup match in an 1997 episode.

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British lawmakers want to fine social media

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Social media companies could be fined if they don’t remove harmful content, according to a new plan from the UK Government

Lawmakers want to make it illegal to encourage users to harm themselves online.

It’s part of a crackdown on online behaviour on content that leads to self harm.

In a statement, Digital Secretary Michelle Donelan said these firms “can no longer remain silent bystanders”.

She says they’ll face fines for allowing this abusive and destructive behaviour to continue on their platforms.”

It follows the death of Molly Russell in 20-17, which sparked concern for harmful content online.

A coroner ruled social media platforms fed her content that “romanticised acts of self-harm”.

Sexually explicit materials will also be banned under the new policy.

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Twitter adds millions of users after cutting staff

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elon musk twitter

Twitter boss Elon Musk says new user signups to the social media platform are at an “all-time high”.

That’s despite his recent struggles with a mass exodus of advertisers and users fleeing to other platforms.

Musk says signups to Twitter are averaging over two million per day over the past week.

Reported impersonations on the platform spiked earlier this month, before and in wake of the Twitter Blue launch.

Musk says buying Twitter will speed up his ambition to create an “everything app” called X.

Musk’s “Twitter 2.0 The Everything App” will have features like encrypted DMs, longform tweets and payments.

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