Latest Business News
Global Tech Sell-Off Hits Wall Street and Asia
Wall Street ended with heavy losses: S&P 500 down 1.5%, Dow 1.3%, Nasdaq 2%, led by software stocks under pressure. Asian markets followed suit, with Nikkei 225 -0.68%, Hang Seng -1.79%, Shanghai -0.70%.
Investors fear AI disruption to tech sector.
AI Fears Grip Markets on Friday the 13th
Tech-led decline deepened Nasdaq 2%, software sector down 27% since October amid AI replacement worries. Gold dipped below $5,000 before rebounding to $4,950, silver up 2%.
Trucking stocks fell 6.64% after AI freight news from Algorhythm Holdings.
US Awaits Critical CPI Inflation Data
Today's US CPI release is key for Fed policy expectations. Markets trade cautiously, with major pairs in narrow ranges and yen volatile above USD/JPY 153.
Inflation expected to cool in January.
Global EV Sales Slow in China and US
January EV sales hampered by slowdowns in China and US. China's new home prices fell 0.4% MoM, 3.1% YoY, worst annual drop in 7 months.
Xiaomi bucks trend with 81% Q3 profit jump from strong EV sales.
AkzoNobel and Axalta Announce $25B Paint Merger
AkzoNobel merges with Axalta Coating Systems, creating $25B giant; Akzo shareholders get $2.5B dividend. Move positions combined firm as paints industry leader.
Hyundai Pledges Record $85.8B Investment in South Korea
Hyundai Motor Group announces $85.8B over 5 years for AI, robotics, EVs to boost innovation and exports. Largest investment aims to strengthen South Korea's tech edge.
Hermes Beats Sales Expectations with China Positives
Luxury giant Hermes exceeds sales forecasts, sees positive signs in China market recovery. Strong performance amid broader luxury sector challenges.
Nissan Reports Deepened Quarterly Losses
Japanese automaker Nissan sees losses widen in latest quarter amid ongoing challenges. Impacts auto sector amid EV transitions.
US Jobless Claims Hit Two-Month High
Continued jobless claims rose to 1.957M for week ending Oct 18, signaling labor market softening. Hiring increased sharply early 2026, but recent data mixed.
BOJ's Tamura Sees Sustainable Inflation, Rate Hike Room
BOJ member Naoki Tamura states Japan inflation sustainable, policy accommodative with space for rate rises. Yen weakens, USD/JPY over 153.
CBRE Warns AI May Cut Office Demand
CBRE shares drop 8.84% after CEO says AI could reduce office workers and space needs long-term. Highlights commercial real estate AI risks.
US Home Sales Fall Sharply in January
US home sales declined significantly in January amid higher rates and economic uncertainty. Ties into broader housing market slowdown.