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Hong Kong stocks have worst day in three months on worries about rates and real estate CNNHong Kong shares drop 3%, dragged down by real estate and energy CNBCStock market today: Asian markets sink, with Hong Kong down almost 3% on selling of property stocks AOLChina Stocks in Hong Kong Drop Most Since July as Market Reopens Yahoo FinanceAsian stocks slide to lowest this year on rate worries Reuters
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The software giant is targeting some large growth markets.
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Soaring U.S. government bond yields sent shock waves across global markets in September. Now, yields have started October by pushing even higher, threatening to upend markets and the economy.
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Vericity Inc.'s VERY stock was up by 97% after the Des Plaines, Ill.-based insurance services company backed by private-equity firm J.C. Flowers, on Tuesday said it agreed to be acquired by iA Financial Corp. CA:IAG for $11.4 a share in cash, or a premium of 101% over its closing price in the previous session. The deal values Vericity at about $170 million. "Over the course of our investment in Vericity, J.C. Flowers supported management in transforming the business model by combining AI and rich data analytics to deliver innovative proprietary technology to power all aspects of the business," Eric Rahe, co-president of J.C. Flowers, said in a statement. The deal is expected to close in the first half of 2024.
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.
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Tesla Inc. TSLA late Monday relaunched a rear-wheel-drive version of its bestselling Model Y crossover SUV in the U.S. The latest version, with a range of up to 260 miles, starts at $43,990, according to Tesla's website — $3,750 cheaper than its previous base model. The Model Y was launched in 2020 and is Tesla's best-selling vehicle. The rear-wheel-drive version had been discontinued in the U.S. in 2021, but they were still being sold in Europe and China. Earlier Monday, Tesla reported third-quarter deliveries that were below expectations, though Wall Street was optimistic about future demand.
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.
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The S&P 500 utilities sector falls to its lowest since June 2020 as Treasury yields resume their climb.
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