Wall Street tumbles, Dow loses 697

February 22, 2023

NEW YORK — Stocks tumbled to their worst day in two months Tuesday, buckling under worries about higher interest rates and their tightening squeeze on Wall Street and the economy. The S&P 500 fell 2 percent for its sharpest drop since the market was selling off in December. The Dow Jones Industrial Average lost 697 points, or 2.1 percent, while the Nasdaq composite sank 2.5 percent. Home Depot fell to one of the market’s larger losses after giving financial forecasts that fell short of Wall Street’s expectations. It dropped 7.1 percent despite reporting stronger profit for the ...

Saudi wealth fund becomes biggest outside Nintendo investor

February 21, 2023

DUBAI, United Arab Emirates — A Saudi sovereign wealth fund now holds 8.26 percent of the stock in the video game maker Nintendo, making it the largest outside investor in the Japanese gaming outfit, a company filing said Friday. The investment comes as part of efforts by the kingdom’s ...

White House: Tesla to make some EV chargers available to all

February 16, 2023

WASHINGTON — Electric car giant Tesla will, for the first time, make some of its charging stations available to all U.S. electric vehicles by the end of next year, under a new plan announced Wednesday by the White House. The plan will make at least 7,500 chargers from Tesla’s ...

Airbnb 4Q profit and revenue rise on bookings, higher rates

February 15, 2023

DALLAS — Airbb said Tuesday it enjoyed a record 2022, including its first annual profit, and it continues to see strong demand for travel carry over into the new year despite economic uncertainty and high inflation. The San Francisco-based company said it earned $319 million in the fourth ...

Twitter’s plan to charge for crucial tool prompts outcry

February 14, 2023

In the aftermath of the devastating earthquake in Turkey and Syria, thousands of volunteer software developers have been using a crucial Twitter tool to comb the platform for calls for help — including from people trapped in collapsed buildings — and connect people with rescue ...

Fed’s Powell: Strong hiring could force further rate hikes

February 8, 2023

WASHINGTON — Federal Reserve Chair Jerome Powell said Tuesday that if the U.S. job market further strengthens in the coming months or inflation readings accelerate, the Fed might have to raise its benchmark interest rate higher than it now projects. Powell’s remarks followed the ...