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Wall St closes lower following Pelosi’s Taiwan visit

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Wall Street has closed lower following U.S. speaker of the House Nancy Pelosi’s visit to Taiwan

China has condemned the diplomat’s visit, labelling it a threat to global peace and stability. 

Microsoft and Visa lost 1.1 per cent and 2.4 per cent respectively, with all 11 S&P 500 indexes loosing ground.

Shares in chipmaking companies that are heavily exposed to China were mixed.

Caterpillar tumbled 5.8 per cent amid warnings of a drop in demand for its excavators in China.

Of course, the markets have been suffering in recent months as the war in Ukraine, soaring inflation and tightening financial conditions all have an impact.

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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Xi Jinping is taking over China’s sharemarket

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China’s economy sees President Xi Jinping asserting control over its sharemarket, a move raising eyebrows globally.

 
Xi’s government has unveiled a series of measures aimed at consolidating authority over the country’s stock market, signalling a desire for greater economic stability and control.

The reforms include stricter regulations for listing on Chinese stock exchanges, with companies needing to meet more stringent criteria to go public.

Additionally, the government is increasing its oversight of foreign listings by Chinese firms, a move seen as an attempt to prevent capital flight.
#featured

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Investors worry as Tesla misses targets

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Tesla reported lower-than-expected quarterly deliveries, sending its shares into a downward spiral.

 
The EV giant’s stock tumbled as investors expressed concerns over the company’s ability to meet its ambitious growth targets.

In the third quarter of this year, Tesla delivered a total of 220,500 vehicles, missing Wall Street’s estimates.

This disappointing performance raised doubts about the company’s ability to keep up with the soaring demand for its EVs, especially as competitors continue to enter the market. #featured

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Is the housing market surge a bubble waiting to burst?

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The housing market has witnessed a remarkable surge in home sales, driving property prices to unprecedented highs.

 
Despite the ongoing economic challenges, the real estate sector appears to be thriving, leaving experts and homeowners both astonished and hopeful.

Over the past year, the real estate landscape has been anything but predictable.

But the surge in demand has been met with a limited supply of available homes.

Builders have struggled to keep pace with the soaring demand, making the situation worse. #featured

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