Investors sold tech shares heavily, pushing the Nasdaq down more than 5%, amid worry over possible AI and data center crackdowns.
According to NPR, tech stocks suffered a steep sell-off after the midterm elections, with about $2 trillion wiped from their value. NPR reported that shares broadly sank and the tech-heavy Nasdaq fell by more than 5%. The decline reflected investor concerns that a Democratic Congress, as well as states across the country, would move to regulate artificial intelligence and data centers.
Source: NPR.
Debt owed by developing countries reached a record $9.4 trillion last year, with the poorest paying the highest rates since the late 1980s.
NPR reports a new study links generational wealth to a widening gap in homeownership as first-time buyers stay older and more often pay cash.
With high prices squeezing household budgets, some Americans are turning more to local libraries for books, streaming and costly items.
BBC economics editor Faisal Islam expects one further interest rate increase, with no more to follow.
