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The “Magnificent Seven” stocks were at the center of another sell-off hitting markets Monday. Shares of Nvidia (NVDA), Tesla (TSLA), Alphabet (GOOG, GOOGL), Amazon (AMZN), Meta (META), Apple (AAPL), and Microsoft (MSFT) all fell, with Tesla’s more than 8% drop leading the way down. Five of the seven megacap names saw drops of over 4%. The selling pressure hitting the Magnificent Seven comes after US markets suffered their worst week of the year as the tech-heavy Nasdaq Composite (^IXIC) fell into correction last Thursday — defined as a 10% decline from its most recent closing high — and the S&P…
Listen and subscribe to Decoding Retirement on Apple Podcasts, Spotify, or wherever you find your favorite podcasts. If given the opportunity to do things over, many retirees say they would’ve made financial decisions differently. According to research by Olivia Mitchell, a Wharton professor and executive director of the Pension Research Council, a majority of the adults over the age of 50 that Mitchell surveyed expressed strong regret over insufficient savings. “A majority of the respondents said they wished they saved more,” Mitchell said on a recent episode of Decoding Retirement (see video above or listen below). “Only 2% said they…
Apple Health, KanCare, ARHOME, Med-QUEST, and Medi-Cal: What do these have in common? They’re all Medicaid programs. States, which administer Medicaid after receiving federal funds, often change the name of the program, sometimes even branding it to reflect state pride, such as Husky Health in Connecticut or SoonerCare in Oklahoma. They also change the name of the federally funded CHIP healthcare program for children, at times with cutesy names like PeachCare for Kids in Georgia and CubCare in Maine. Some Medicaid programs even have a private insurer’s name attached to it because many states farm out contracts to managed care…
The US wants to get its hands on critical minerals — whether through a deal (now in limbo) with Ukraine or domestic production. On Tuesday President Donald Trump teased efforts to produce more critical minerals required for everything from semiconductors to aerospace and defense. “Later this week, I will also take historic action to dramatically expand production of critical minerals and rare earths here in the USA,” Trump said on Tuesday during his speech in front of Congress. Industry watchers point to more than 50 critical minerals identified by the US Geological Survey needed for nearly every type of modern…
Stocks sank last week as a lack of clarity around President Donald Trump’s tariff plans and what they could mean for the economy’s overall trajectory gripped markets. For the week, the S&P 500 (^GSPC) fell more than 3%, while the Dow Jones Industrial Average (^DJI) slid more than 2%, or about 1,000 points. The Nasdaq Composite (^IXIC) led the losses, falling almost 3.5%. The Nasdaq has now fallen more than 10% from its last record high in December and is in a correction. In the week ahead key updates on inflation, with fresh readings on the Producer Price Index (PPI)…
This week on the Capitol Gains podcast, it’s all about the “exemption season” for tariffs. President Trump first scaled back tariffs on auto imports on Wednesday by granting the Big Three automakers a one-month reprieve. Then on Thursday, days after 25% tariffs on imports from Mexico and Canada went into effect, Trump issued a one-month pause for goods compliant with the United States-Mexico-Canada Agreement. “Trump went forward with these tariffs on Tuesday. In the immediate days, the economic cost of them became very evident,” Yahoo Finance Washington Correspondent Ben Werschkul said. “The CEOs and business leaders were getting to anyone…
Authorities are investigating an alleged arson attack on the Madison, N.J., home of a Bayer (BAYRY) executive this week, Yahoo Finance has exclusively learned. The alleged attack took place on March 4 at 7:30 a.m. ET but was put out quickly, according to authorities. The investigation into the incident is ongoing, and it is unclear what the motive was behind the attack. The home was purchased for $2.25 million in 2022. “A fire was reported at an occupied residence on East Lane in Madison,” the Morris County Prosecutor’s Office said in a statement to Yahoo Finance. “The fire was quickly…
Tesla (TSLA) stock fell nearly 11% this week, bringing its losses from a record close to nearly 50% as it continues to see its post-election rally fade. NasdaqGS – Delayed Quote • USD At close: March 7 at 4:00:00 PM EST This drop in shares of the EV carmaker prompted Wedbush analyst Dan Ives — one of Tesla’s biggest bulls on Wall Street — to issue a forceful defense of the stock, doubling down on his bullish views during what he calls a “gut check moment for the Tesla bulls (including ourselves).” In a note to clients published late Thursday,…
President Donald Trump said on Friday he would sign an executive order banning student borrowers from the Public Service Loan Forgiveness program if they work for nonprofits that engage in “illegal” or “improper” activities. Though light on details — a copy of the order had yet to be posted on the White House website Friday afternoon — the plan appears to be the latest strike by the White House at pro-Palestinian groups and charity organizations opposed to his policies. Speaking before the cameras, a White House aide said it would penalize employees of nonprofits involved in “illegal immigration or foreign…
The impact of the US government’s efficiency drive is slowly beginning to show up in labor market data. Federal government employment fell by 10,000 in February, according to data released by the Bureau of Labor Statistics on Friday, a decline from the 9,000 federal jobs added last month as Elon Musk’s Department of Government Efficiency (DOGE) continues efforts to pare back the size of the federal workforce. In total, government jobs contributed just 11,000 to the total nonfarm payroll gains of 151,000 seen in February. This is down from the upwardly revised 44,000 government jobs added in January and the…