A Texas oil company agreed to plead guilty to criminal negligence charges and pay nearly $13 million for a crude oil spill that killed wildlife and fouled southern California beaches, federal prosecutors said on Friday.
W.R. Berkley (WRB) closed at $66.54 in the latest trading session, marking a -1.39% move from the prior day. This change was narrower than the S&P 500's 3.37% loss on the day. At the same time, the Dow lost 3.03%, and the tech-heavy Nasdaq lost 0.09%.
iQIYI, Inc. Sponsored ADR (IQ) closed the most recent trading day at $3.94, moving -0.76% from the previous trading session. This move was narrower than the S&P 500's daily loss of 3.37%. Elsewhere, the Dow lost 3.03%, while the tech-heavy Nasdaq lost 0.09%.
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What happened
Shares of several fintech stocks lost ground today, along with the broader market, after Federal Reserve Chairman Jerome Powell indicated the Fed will stay hawkish until it sees further proof that inflation is coming down.
Canada's main stock index fell on Friday by the most since mid-July, echoing weak sentiment on Wall Street, after Federal Reserve Chair Jerome Powell said U.S. monetary policy will need to be tight "for some time" before inflation is under control.
(RTTNews) - With traders reacting negatively to remarks by Federal Reserve Chair Jerome Powell, stocks moved sharply lower during trading on Friday. The major averages more than offset the upward move seen over the two previous sessions, falling to their lowest levels in a month.
What happened
A broad cross-section of stocks tumbled on Friday, as the market focused on macroeconomic conditions and how the Federal Reserve Bank plans to address them.
Russian race walker Aleksandr Ivanov and Indian discus thrower Navjeet Kaur Dhillon have been banned for using prohibited substances, the Athletics Integrity Unit (AIU) said on Friday.
Health care stocks were mostly lower this afternoon, with the NYSE Health Care Index plunging 2.4% and the SPDR Health Care Select Sector ETF (XLV) dropping 2.7%.
Technology stocks added to their Friday freefall, with the SPDR Technology Select Sector ETF (XLK) sinking 4.2% and the Philadelphia Semiconductor Index sliding 5.6% this afternoon.
Wall Street slumped on Friday to close well down, as investors keen for a more modest interest rate path were disappointed by Federal Reserve Chief Jerome Powell signaling the central bank would keep hiking rates to tame inflation.
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Financial stocks were sharply lower late in afternoon trading, with the NYSE Financial Index sinking 2.5% and the SPDR Financial Select Sector ETF (XLF) off 2.7%.
Energy stocks added to their Friday declines this afternoon, with the NYSE Energy Sector Index and the SPDR Energy Select Sector ETF (XLE) both falling 0.7%.
What happened
Uranium stocks cruised through this week of August on a high note, with nearly every stock clocking double-digit gains. Despite cooling off a bit on Friday, here's how much popular uranium stocks had rallied in the week through 1:30 p.m. ET Friday, according to data
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