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The Trump administration says the move, which will affect 40 markets, is part of an effort to ease pressure on air traffic controllers.
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The current market is so unaffordable that the only people able to buy and sell houses tend to be older, wealthy or both.
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On Kalshi, contracts tied to whether the court would rule in favor of Trump's tariffs slipped to around 30% from nearly 50% before Wednesday's hearing.
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With all the risks facing investors these days — from high valuations in the stock market to worries about an AI bubble and beyond — some might be tempted to stick their cash under the mattress.
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Decline in Asian markets led by companies most exposed to demand for artificial intelligence
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Privately run businesses created 42,000 new jobs in October — the biggest increase in three months — in a possible sign of stabilization in a weakening U.S. labor market.
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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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