Trending
Sharp drops for AI overwhelm markets
The latest shudder for AI stocks pulled markets lower around the world.
The S&P 500 fell 1.2% Thursday for its worst day since July, while the Nasdaq composite tumbled 2.6%. The weakness for tech stocks was so overwhelming that it masked strength for the rest of the market, where the majority of U.S. stocks actually rose. The Dow Jones Industrial Average edged up less than 0.1%.
US proposes crackdown on investments in China
The U.S. Treasury Department has proposed a rule to crack down on American high-tech investments in China, Russia, North Korea and other "countries of concern.''
The U.S. government has been working for years to deny China and other adversaries investments that could help them boost their military power.
Trump ordered to sit for deposition in lawsuit
A federal judge has ordered President Donald Trump to sit for a deposition in his $10 billion defamation lawsuit against the BBC by Dec. 11.
The order Thursday from U.S. Magistrate Judge Enjolique Lett came as the BBC's lawyers complained that Trump had delayed his appearance. Lett said Trump must sit for a deposition by Dec. 11 or face sanctions up to dismissal of his lawsuit unless the discovery period is extended past Dec. 18.
Airbnb guests have fewer chores at checkout
Airbnb guests may soon have fewer chores to tackle before checking out. The short-term rental platform says it is changing its rules to limit what hosts can require of guests.
The new policy says hosts can no longer ask guests to wash dishes, strip beds or take out the trash. But guests can still be asked to leave dishes in the sink, gather used towels and sort trash and recycling.
Quest Diagnostics reports cyber breach
Medical laboratory operator Quest Diagnostics said it learned of a cyber breach of one of its systems this week, likely compromising some records for patients.
The company discovered the unauthorized access to its Quanum Lab Services Manager on Wednesday and notified federal law enforcement. The full extent of the breach is still under investigation, but Quest believes certain patient records were accessed.
US jobless claims fell to 194,000 last week
U.S. unemployment claims fell to 194,000 last week, the fewest in three months and another sign that layoffs remain low and most Americans enjoy extraordinary job security.
The Labor Department reported that claims were down from 200,000 the week before.
Average US mortgage rate eases to 7.32%
Mortgage rates fell this week for the first time since late August, easing some of the pressure on prospective homebuyers facing higher borrowing costs on home loans.
Mortgage buyer Freddie Mac said Thursday that the benchmark 30-year fixed-rate mortgage dropped to 7.32% from 7.40% last week.
Zuckerberg seeks help to pay billionaire tax
Mark Zuckerberg has made a deal with Meta to help him pay a proposed billionaire tax that is on the ballot in California.
The ballot measure, known as Proposition 40, would levy a one-time, 5% tax on the wealth of Californians living in the state as of Jan. 1, 2026, whose net worth exceeds $1 billion. Zuckerberg is the sixth-richest person in the world with a net worth estimated at more than $220 billion, according to Forbes. That would put his tax liability at more than $11 billion.