NVIDIA Suffers Historic One-Day Market Value Loss
NVIDIA faced a record-breaking single-day drop in market capitalization, losing 9.5% and erasing $278 billion on Tuesday.
US Inflation Cools in July 2024: Lowest Rate Since March 2021
US inflation fell to 2.9% in July 2024, its lowest since March 2021, driven by slower increases in shelter, transportation, and apparel costs. Core inflation also eased to 3.2%, with shelter contributing significantly to the monthly CPI rise.
U.S. Oil Production Reaches Record High, Leading Global Market
U.S. crude oil production has hit a record 13.4 million barrels per day, solidifying America's position as the world's top oil producer, outpacing Russia and Saudi Arabia.
Turkey's Unemployment Rate Rises to 9.2% in June 2024
Turkey's unemployment rate increased to 9.2% in June 2024, the highest level since August 2023. The rise was accompanied by a drop in employment and a higher jobless rate among youths aged 15 to 24.
Japan's Tough Choices: Yen Intervention vs. Rate Hikes Amid Global Financial Risks
All available choices for Japan carry severe potential consequences. Selling Treasuries to fund Yen purchases—a move that was not well-received by US Treasury Secretary Janet Yellen. Or a rate hike by the (BoJ), which risked triggering a global financial crisis.
Global Markets Plummet on U.S. Recession Fears as Dow Drops 1000 Points
Global markets plunged on concerns about a potential U.S. recession, with the Dow Jones Industrial Average falling 1000 points. The Nasdaq also suffered significant losses, reflecting widespread investor anxiety.
Japan's Nikkei Suffers Worst Drop Since 1987 Black Monday
Japan's Nikkei 225 experienced its worst decline since the 1987 Black Monday crash, plunging 12.4% and erasing all gains for the year. The broader Topix index also fell sharply, down 12.23%.
Trump Pledges to Retain U.S. Bitcoin Holdings if Re-Elected
In a keynote speech at the Bitcoin Conference in Nashville, former President Donald Trump promised that if re-elected, he would ensure the U.S. government retains its bitcoin holdings.
Apple Slips Out of Top Five in China
In a surprising shift in the Chinese smartphone market, Apple has fallen out of the top five vendors for the first time and according to a recent report by Canalys,
U.S. Wage Growth Trends in June 2024: Key Insights
Here's a breakdown of the latest wage trends based on the June 2024 report from the U.S. Bureau of Labor Statistics: Average Hourly Earnings Increase: Average hourly earnings for all
Understanding the U.S. June 2024 Jobs Report: Insights and Analysis
The latest jobs report from the U.S. Bureau of Labor Statistics reveals a nuanced picture of the American economy's employment landscape for June 2024.