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TCI has cut its position in tech giant from 10% to 1%
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Surging gas prices due to the Iran war sent consumer sentiment to a new low in the early part of May.
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The unemployment rate held at 4.3 percent in April, according to a Labor Department report. But the effects of the Iran war are only beginning to emerge.
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The company said performance and earnings aren't to blame for the cuts.
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The Fed chair nominee has filed 69 pages about his finances that mostly tell you what he won't tell you. The Senate is ready to confirm him anyway.
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The war in Iran and the resulting closure of the Strait of Hormuz have sent the global energy market into a frenzy, leading to higher prices for Americans.
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"War in Iran resulted in recession-level industry decline in the U.S. as consumer confidence collapsed in late February and March," the company said.
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The war in Iran has pushed global oil prices up, but there's no sign of a huge surge in U.S. production and the future of Venezuelan oil remains murky.
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