September 26, 2023

Markets Now 9/26

Dow tumbles nearly 400 points, notching biggest one-day drop since March

Stocks tumbled Tuesday after a slew of economic data stoked fears about the US economy’s cloudy outlook and further interest rate hikes from the Federal Reserve.  
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AI deals give investment banks a glimmer of hope

Dealmaking on Wall Street hit a dead end last year and has struggled ever since.  
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Alibaba's logistics business will go public in first IPO from the new-look tech giant

Alibaba said Tuesday that it would spin off Cainiao, its logistics arm, in what will be the conglomerate’s first initial public offering since it announced a sweeping revamp of its business earlier this year.  
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JPMorgan pays $75 million to settle sex-trafficking lawsuit

JPMorgan Chase has reached a settlement with the US Virgin Islands over a lawsuit alleging the bank enabled Jeffrey Epstein’s sex-trafficking crimes.  
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McDonald's is adding two new sauces

McDonald’s is spicing up its sauces.  
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Panera jumps on a TikTok trend, adds 'Roman Empire' inspired menu

Men, apparently, can’t stop thinking about the Roman Empire. Panera Bread fans can’t stop thinking about their broccoli cheddar soup.  
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Source: CNN Business

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