🇺🇸 United States · Finance & markets
7 storiesAI-linked stocks sell off worldwide on inflation and debt fears; Wall Street steadies
The S&P 500 fell 1.1 percent on Wednesday, its steepest drop in more than two months, and the AI-linked sell-off spread to Asia, where South Korea's Kospi and Japan's Nikkei fell sharply. On Thursday the S&P 500 and Dow closed higher after …
Bank of America faces more than $1.2 billion in US compliance penalties
The US Treasury Department announced more than $1.2 billion in penalties against Bank of America over anti-money-laundering and sanctions violations on October 13. The bank said it would record a $1.2 billion charge in its third-quarter res…
US 30-year mortgage rate rises to 7.49%, highest in nearly three years
The average contract rate on a 30-year fixed mortgage rose to 7.49% last week from 7.30%, the highest level in nearly three years, according to the Mortgage Bankers Association. Total mortgage application volume fell 4.2% week over week, wi…
US 10- and 30-year Treasury yields hit 24-year highs as global bond sell-off deepens
Yields on 10- and 30-year U.S. Treasury bonds hit 24-year highs on Wednesday, with the 10-year reaching 5.36% and the 30-year 5.73%, as a global bond sell-off deepened. Yields eased later after a strongly bid $39 billion auction of 10-year …
Fed minutes show most officials expect another rate hike this year
Most Federal Reserve officials expect another interest rate increase will likely be needed this year to combat inflation, according to minutes of the Sept. 15-16 meeting released Wednesday. At that meeting the Fed raised its key rate by a q…
Euro falls to 17-month low as Spain and France political uncertainty rattles markets
The euro fell to its weakest level since May 2025, dropping below $1.12 against the dollar, as political and fiscal uncertainty in Spain and France weighed on the currency. Spanish Prime Minister Pedro Sánchez called a snap election for Nov…
S&P 500 sets record high, closes above 7,800 for first time
The S&P 500 rose 0.6% on Tuesday to a record high, surpassing its August peak, CNBC reported it touched an intraday record of 7,844.52 and closed above 7,800 for the first time. The rally came amid elevated oil prices and rising bond yields…