Investing

A trader works at the New York Stock Exchange in New York, the United States, on Aug. 5, 2019. U.S. stocks plunged on Monday as investors worry that U.S. President Donald Trump’s threatened new tariffs on Chinese imports will worsen trade prospects. The Dow Jones Industrial Average decreased 767.27 points, or 2.90 percent, to 25,717.74.
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Michael Burry attends the “The Big Short” New York premiere at Ziegfeld Theater on November 23, 2015 in New York City. Jim Spellman | WireImage | Getty Images GameStop shares jumped after Barron’s reported that investor Michael Burry, one of the main money managers depicted in Michael Lewis’ book “The Big Short,” is long the
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Federal Reserve Chair Jerome Powell holds a news conference following the Federal Reserve’s two-day Federal Open Market Committee Meeting in Washington, July 31, 2019. Sarah Silbiger | Reuters Federal Reserve members worried over future growth are highly concerned about the U.S.-China tariff battle, citing the issue multiple times during discussions at the central bank’s July
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Federal Reserve officials who voted to lower interest rates three weeks ago agreed that the move shouldn’t be viewed as an indication that there is a “pre-set course” for future cuts, according to meeting minutes released Wednesday. The summary indicated that policymakers viewed the move as a “mid-cycle adjustment,” an expression Chairman Jerome Powell used
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Former SEC Chairman Harvey Pitt on Monday questioned the motivation of Harry Markopolos, the Bernie Madoff whistleblower who unveiled a long list of allegations against General Electric last week in an investigation for a short seller. “One of the ways you can test Markopolos’ bonafides, however, is the fact that the SEC has a whistleblower
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Traders react after the closing bell at the New York Stock Exchange (NYSE) on August 5, 2019 at Wall Street in New York City. Johannes Eisele | AFP | Getty Images Investors should remain guarded for the rest of August and wait until next month before thinking about returning to stocks despite any one-day bounce,
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President Donald Trump held a conference call with the CEOs of the three biggest U.S. banks as the stock market plunged Wednesday. Trump held the call with J.P. Morgan Chase CEO Jamie Dimon, Bank of America‘s Brian Moynihan and Citigroup‘s Michael Corbat, according to people with knowledge of the situation. The Dow plunged 800 points, or 3%, in
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The allegations by Madoff whistleblower Harry Markopolos of a $38 billion fraud at General Electric are “at best disingenuous” and “at worst highly inaccurate,” according to Nick Heymann, co-group head of global industrial infrastructure at the William Blair financial services firm. “You got the stock on sale yesterday for absolutely no basis. This is why
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The General Electric Co. logo is seen on the company’s corporate headquarters building in Boston, Massachusetts, U.S. July 23, 2019 Alwyn Scott | Reuters Enron whistleblower Harry Markopolos released a report on General Electric on Thursday alleging the company is hiding financial problems. Before the report was made public, GE said, in a statement, “we
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General Electric shares fell more than 11% Thursday after Madoff whistleblower Harry Markopolos targeted the conglomerate in a new report, accusing it of issuing fraudulent financial statements to hide the extent of its problems. A website has been set up to disseminate the report, www.GEfraud.com, where Markopolos calls it “a bigger fraud than Enron.” The
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President Donald Trump meets business leaders at the Great Hall of the People in Beijing, China, in November, 2017. Jonathan Ernst | Reuters CNBC’s Jim Cramer said on Tuesday that the Trump administration’s decision to remove some items from its new China tariffs list signals the president wants to halt the stock market’s decline. “I
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