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Google Business NewsJun 25, 2019
'We're not law enforcement': FedEx sues Trump administration over export rules - Washington Examiner
'We're not law enforcement': FedEx sues Trump administration over export rules  Washington ExaminerFedEx sues US government over export controls after Huawei problems  Ars TechnicaFedEx Sues U.S. Government Over Huawei Confusion, Says It Can't Inspect Every Package for Export Violations  GizmodoFedEx sues Wilbur Ross, commerce department over export controls  Business InsiderFedEx sues the Department of Commerce after incident involving misrouted Huawei packages  TechCrunchView full coverage on Google News

MarketWatch MarketPulseJun 25, 2019
Nasdaq sinks 1.5% as tech-related stocks get clobbered after Fed lowers rate-cut hopes
Information technology shares and those related to telecoms suffered sharp losses Tuesday, as commentary from the Federal Reserve moderated hopes for a substantial reduction of benchmark borrowing costs. Rate-cut hopes have thus far underpinned equity market's record rally. The Dow Jones Industrial Average fell 0.7%, to 26,548, those for the S&P 500 index finished 1% lower at 2,917, with the info tech sector losing 1.8% and the communication services sector shedding 1.6% to lead the 11 S&P 500 sectors lower Tuesday. Shares of those companies, including Facebook Inc. have been among the best performers as the broader market carved out new records, with the S&P 500 setting its first closing record since April 30 on Thursday. As tech-related stocks got clobbered, the technology-heavy Nasdaq Composite Index endured the brunt of the day's selling, down 1.5% at 7,885, representing the worst day for the index sine June 3. Speaking at the Council on Foreign Relations in New York at 1 p.m. Eastern Time, Fed Chairman Jerome Powell said the rate-setting Federal Open Market Committee was "grappling with is whether these uncertainties will continue to weigh on the outlook and thus call for additional policy accommodation," in prepared remarks. Before that comment, St. Louis Fed President James Bullard, a dovish FOMC member who had advocated for a rate cut, said he didn't endorse an aggressive cut to benchmark rates, which stand at a range of 2.25%-2.50%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



Google Business NewsJun 25, 2019
FedEx sues US government over export controls after Huawei problems - Ars Technica
FedEx sues US government over export controls after Huawei problems  Ars TechnicaFedEx sues US Commerce Department over restrictions on Huawei  Fox BusinessFedEx Sues U.S. Government Over Huawei Confusion, Says It Can't Inspect Every Package for Export Violations  GizmodoFedEx sues Wilbur Ross, commerce department over export controls  Business InsiderFedEx Sues US Commerce Department Over 'Impossible' Export Restrictions  Wochit BusinessView full coverage on Google News
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