Markets Now

Dow sinks by more than 400 points as spiking yields weigh on stocks

Stocks fell sharply Tuesday afternoon, as US Treasury yields surged to their highest levels in over a decade, worrying investors that higher borrowing rates could further stall the housing market.  
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Birkenstock could be worth $10 billion

There’s big money in trendy sandals.  
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ESG has lost its meaning. One advocate says let's throw it in the trash

Not so long ago, Wall Street had a particular obsession with ESG investing, which favors companies that promise to make certain strides on the environment, societal impact and corporate governance. Nearly every CEO of a major company touted their firm’s progress toward creating a more sustainable future.  
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Sam Bankman-Fried's trial has started. Here's what you need to know

The trial of Sam Bankman-Fried, a onetime crypto billionaire who stands accused of orchestrating a multibillion-dollar fraud, kicked off Tuesday in federal court in Manhattan.  
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Hong Kong stocks have worst day in three months on worries about rates and real estate

Stocks in Hong Kong suffered their worst day in three months on Tuesday on growing concern about China’s weak housing market and persistently high US interest rates.  
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Stock market minnows are grabbing most of the world's IPOs

When UK-based chip designer Arm went public earlier this month, raising $65 billion on the Nasdaq in a matter of hours, hopes swirled among investors that the global market for initial public offerings might be coming back to life after an 18-month slump.  
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Source: CNN Business