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U.S. stocks drop to a new closing low for 2022

Published

2 years ago

on

Investor watches markets

The S&P 500 dropped to a new closing low for 2022 as interest rates surged and turmoil rocked global currencies.

The S&P 500 declined just over 1%, falling below the June closing low of 3,666.

The Dow Jones Industrial Average dropped 325 points, or 1.1%, accelerating losses moments of trading. The Nasdaq fell 0.6%.

The British pound dropped to a record low against the U.S. dollar, falling 4% at one point to an all-time low.

The pound has since come off its worst levels on speculation that the Bank of England may have to raise rates more aggressively to tamp down inflation.

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Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Trump will plead not guilty to revised 2020 election criminal charges

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2 days ago

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September 5, 2024

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Former U.S. President Donald Trump will plead not guilty to fresh criminal charges in a revised indictment accusing him of attempting to overturn the 2020 election.

In a court filing, Trump waived his right to appear in court, authorising his lawyers to enter the plea on his behalf.

This revised indictment, brought by Special Counsel Jack Smith, maintains the original four charges, including obstructing Congress and defrauding the United States. #featured #trending

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Harris promises to boost SME in the U.S. with $50,000 tax deduction

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3 days ago

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September 4, 2024

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Vice President Kamala Harris is set to propose a significant tax deduction for new small businesses.

Under the plan, startups could claim up to $50,000 in tax deductions, providing crucial financial relief during the critical early years of operation.

This initiative aligns with efforts to stimulate economic growth and job creation across the country, particularly in sectors hard-hit by the pandemic. #featured #trending

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Fed Reserve close in on Sep rate cut amid cooling inflation

Published

4 days ago

on

September 3, 2024

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The Federal Reserve is anticipated to announce a rate cut in September following signs of cooling inflation.

Economic indicators suggest a slowdown in price increases, providing room for the Fed to adjust policy rates. #featured #trending

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