Stock Markets Finish Volatile Session Lower as S&P 500 Extends Decline

US stocks and bond yields fell, with the S&P 500 flirting with a bear market, in a continuing selloff driven by investor fears that the economy could be pitched into a recession. The major indexes dipped early in Thursday’s session, a day after tumbling 4%, before recovering ground. They ultimately finished lower, with all three … Read more

Stock Market Is Top-Heavy, but Carnage Is Widespread

Eight companies are to blame for nearly half the stock market’s decline this year — and the pain doesn’t end there. Apple Inc., Microsoft Corp. Amazon. com Inc., Tesla Inc. and the parent companies of Google and Facebook swelled to be so big in recent years that they accounted for 25% of the S&P 500 … Read more

Mortgage Lenders Are Playing Defense

Mortgage lenders have been squeezed by rising rates and falling volumes. Investors should be paying attention to when they push back. Home-lending rates in mid-May hit their highest level since 2009 on Freddie Mac‘s weekly US average of 30-year fixed-rate mortgages, at 5.3%. That is a climb of more than 2 percentage points since the … Read more

SoftBank-Backed Fintech Giant Klarna Looks for New Funds at Lower Valuation

Klarna Bank AB is seeking to raise new funds that could value the fintech giant at almost a third less than the roughly $ 46 billion valuation it achieved just under a year ago, according to people familiar with the matter, an example of the struggles facing the tech investing world. Klarna specializes in buy-now-pay-later … Read more

In This Economy, Getting Fired Takes Hard Work

To hold down a job these days, a worker seemingly needs one essential trait: a pulse. Some jobs have always required a little more than the ability to stay awake. In the tightest labor market in a half-century, people in higher functions may get by just going through the motions, too. “You’d have to be … Read more

Stock Markets Wobble as Bear Market Looms Over S&P 500

US stocks wavered Thursday on growing worries of an economic slowdown that sent investors into the haven of government bonds. The S&P 500 was recently up about 0.1%, though still close to bear market territory — market shorthand for a 20% fall from a recent high. The index tumbled 4% Wednesday, its biggest one-day retreat … Read more

Stock Selloff Crunches SPAC Creators as They Race to Find Deals

An investor stampede out of risky trades is squeezing SPACs that are running out of time to find companies to take public, potentially leaving their architects without deals and saddled with sizable losses. Firms that have gone public through mergers with special-purpose acquisition companies have tumbled lately alongside the technology sector and cryptocurrencies. Supply-chain disruptions … Read more

Does Erdogan’s Turkey Belong to NATO?

Turkish President Recep Tayyip Erdogan holds a news conference during a NATO summit in Brussels, June 14, 2021. Photo: YVES HERMAN / REUTERS Every member of the North Atlantic Treaty Organization has enthusiastically welcomed Finland and Sweden except one: Turkey, which on Wednesday blocked an early vote to begin accession talks. For reasons that are … Read more

Melvin Capital to Close Funds, Return Cash to Investors

Melvin Capital plans to close its funds and return the cash to its investors, capping a stunning reversal for a firm that lost big on the surge in meme stocks last year and on wagers on growth stocks this year. In a letter to investors that was reviewed by The Wall Street Journal, Gabe Plotkin, … Read more

Elon Musk’s Twitter Bot Problem Is Fake News

With his professed concern about fake accounts on Twitter, TWTR -3.90% Elon Musk appears to be grasping at legal straws in an attempt to back out of his commitment to buy the social networking company for $ 54.20 a share, or at least to pay less for it. But his gambit has shined a light … Read more