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Stock Market Today: Dow, Nasdaq Open Lower; Inflation Rises to 4.2% — Live Updates WSJDow drops 650 points to session lows as Trump doubles down on Iran threat: Live updates CNBCStocks fall on Trump Iran threats and CPI inflation hitting 3-year high qz.comWall St dips as tech declines, Middle East tensions mount Reuters
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The attacks, which strained a two-month cease-fire between Iran and the United States, were the latest jolt to energy markets.
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"Scammers have adapted": Valve confirms that physical Steam Gift Cards are dead. Once the current stocks are sold through, they're done. Windows CentralValve is phasing out physical Steam gift cards due to scammers The VergeValve discontinues physical Steam Gift Cards, blames "gift card scams" as scammers adapt to protections PC GuideSteam gift cards will disappear from retail stores by end of 2026 VideoCardz.com
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Stock futures slip after U.S. launches ‘self-defense strikes' against Iran: Live updates CNBCAsian stocks fall as US and Iran exchange fire - business live The GuardianAsian stocks slide, oil rises as Iran and US launch strikes ReutersAsian tech stocks rebound after Wall Street embraces AI once more Financial Times
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The economic banishment of all things Russian. Tariffs on Chinese imports. Pandemic-caused shortages of computer chips, bicycles, garage door parts and other imports. Brexit.
Just about everywhere you turn, you can see that the tectonic plates of the global economy have stopped converging and are starting to pull apart in ways that will determine new winners and losers, says Ethan Harris, head of global economics for Bank of America Securities. "Deglobalization is a gradual process, and in the long run, very important" to investors, he says, because it will have profound impacts on corporate profitability.
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Globalization refers to the increase of commerce across borders. U.S. companies prospered for decades as new markets opened for their goods and labor costs plummeted thanks to overseas production. Strategists at BofA have estimated that over the past 20 years, globalization has contributed more than half of what has been a robust expansion in profit margins. Globalization has also helped to deliver low-cost goods to American consumers.
But now, says market strategist Ed Yardeni, the pandemic and spreading political and military conflicts have stretched supply chains past the breaking point, prompting companies to bring many operations closer to home. "Deglobalization was almost inevitable," Yardeni says. U.S. companies are starting to "reshore" production back to the U.S., "near-shore" it to neighbors such as Mexico, or "friend-shore" it to allies such as Vietnam.
Investment firm Piper Sandler counted more than 900 announcements of companies either building or expanding manufacturing facilities in the U.S. in the 12 months ending in May of 2022. In 2012, there were only about 100 such announcements. Over the long term, companies
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