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Tesla robotaxi launch: Why getting from dozens to millions of self-driving cars won't be easy ReutersTesla robotaxi incidents caught on camera in Austin draw regulators' attention CNBCTesla Stock Falls as Investors Look to Robo-Taxi Problems, NHTSA Barron'sMusk's 'robotaxis' draw regulatory scrutiny after video shows one driving in an opposing lane AP News
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The S&P 500 does better when crude prices are higher.
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Dow jumps 500 points, oil prices tank as investors bet Israel-Iran truce will hold: Live updates CNBCFragile Iran-Israel ceasefire calms oil markets Al JazeeraWall St ends sharply higher, S&P 500 nears record high as Middle East tensions cool ReutersUS stocks leap within a decent day of their all-time high as oil prices tumble AP News
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This mutual-fund manager stays calm through uncertainty — and significantly outperforms the stock market.
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The average analyst's stock-price target implies Palantir's stock is well overpriced, even though the company stands to benefit from defense and intelligence offerings.
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Wednesday's selling carried into Thursday as investors continued to take a risk-off approach to markets following the Federal Reserve's latest policy announcement.
The central bank issued its third jumbo-sized rate increase yesterday and set expectations that it will continue to hike rates over its next few meetings. However, the Fed is not alone in its aggressive stance. Several global central banks have increased their benchmark rates this week in an ongoing effort to tame inflation, including the Bank of England and Switzerland's National Bank, which earlier today issued 50 basis point and 75 basis point rate hikes, respectively. (A basis point is one one-hundredth of a percentage point.)
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"Global equities are struggling as the world anticipates surging rates will trigger a much sooner and possibly severe global recession," says Edward Moya, senior market strategist at currency data provider OANDA. "Most of these rate hikes around the world are not done yet which means the race to restrictive territory won't be over until closer to the end of the year."
The reaction here at home was a selloff in bond prices, which sent yields on government notes spiking. The 10-year Treasury yield surged 19.2 basis points to 3.704% - its highest level since early 2011 - while the 2-year Treasury yield spiked 12.1 basis points to 4.116%, its loftiest perch since late 2007.
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As for stocks, the tech-heavy Nasdaq Composite
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