NEW YORK, Oct 4 — The S&P 500 index closed at its lowest level since June 1 on Tuesday as economic data underscored the view the Federal Reserve may need to keep interest rates...
In defence statement, Kedah MB says was focusing on public welfare rather than labelling Vincent Tan and Berjaya Land 'corrupt'The Dow turned negative for the year for the first time since June and ended at its lowest level since May 31. The Nasdaq also closed at its lowest since May 31. — Reuters picWednesday, 04 Oct 2023 7:47 AM MYT
Data showed US job openings unexpectedly increased in August, fueling worries about a tight labour market ahead of Friday’s key US monthly jobs report.“The scenario that most investors were assuming is the Fed would need to ultimately cut short-term rates, and we would return to a favourable interest rate environment,” said Rick Meckler, partner at Cherry Lane Investments, a family investment office in New Vernon, New Jersey.Higher borrowing costs are a negative for businesses and consumers.
Shares of Amazon.com and Microsoft dropped after Reuters reported British media regulator Ofcom will push for an antitrust investigation into the companies’ dominance of the UK cloud computing market.
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