Pound falls against every currency in the world after hitting all-time lows

CChancellor Kwasi Kwarteng needs to do more to reassure markets about his plans for the economy after the pound collapse, a top adviser to Liz Truss said. Gerard Lyons, an external adviser to the Prime Minister, told Bloomberg: “He needs to reaffirm that tax cuts are only part of the story, not the full story. … Read more

Nvidia RTX 4090 graphics card coming in October for $1599 – Yahoo Finance

Nvidia RTX 4090 graphics card coming in October for $1599Yahoo Finance Corsair Announces Compatibility for Nvidia 40 Series Graphics Cardsguru3d.com Why Nvidia’s RTX 4080, 4090 Cost So Damn Much?Tom’s hardware The Aorus RTX 4090 Master is the biggest GPU we’ve ever seenDigital trends Nvidia Stock: Chipmaker launches new products in dubious market | Investor’s Business … Read more

US stocks plunged, Dow dips below 30,000 as inflation, recession fears mount

US stocks plunged Friday, capping four days of declines and lingering inflation and recession concerns. The Dow Jones Industrial Average fell more than 800 points before recovering at the close of trading, but remained below 30,000 for the first time since June. The Dow Jones Industrial Average fell 483.83 points, or 1.61%, to 29,592.85. The … Read more

Shares plunge during early trading on Friday

US stocks fell sharply during Friday’s early trading day, extending a weeklong decline fueled by inflation and recession fears. The Dow Jones Industrial Average fell more than 400 points, below 30,000 points for the first time since June, shortly after the opening bell. About half an hour into the trading session, the Dow Jones index … Read more

Kwasi Kwarteng lowers taxes in mini-Budget

Ggood morning. All eyes are on Kwasi Kwarteng today as he prepares to unveil a series of tax cuts in his mini-Budget. Economists at the Institute for Fiscal Studies have said today’s announcements will likely amount to “the biggest tax cut since Nigel Lawson’s 1988 budget.” The Chancellor has already confirmed that the recent increase … Read more

Mark Zuckerberg’s net worth has fallen by more than half this year

Mark Zuckerberg’s net worth has been cut by more than half this year, pushing him out of the top of the world’s richest as his company Meta struggles through an identity crisis, according to updated calculations. Zuckerberg, 38, has lost a staggering $71 billion in paper assets since January — a period when shares of … Read more

China spends record $8.3 billion on Russian energy as Putin cuts prices

Ggood morning. China is spending a record amount on Russian energy as it continues to expand its reliance on the Kremlin in the wake of the war in Ukraine. Beijing last month made a record $8.3 billion (£7.3 billion) on a haul with a record amount of coal. In the six months since the start … Read more

Wall Street plunges to two-month lows on rising recession fears

According to CME’s FedWatch tool, financial markets have estimated an 18 percent probability of a super-big 100 basis point hike in the Fed target rate on Wednesday. The Dow Jones Industrial Average fell 139.4 points or 0.45 percent to 30,822.42, the S&P 500 lost 28.02 points or 0.72 percent to 3,873.33 and the Nasdaq Composite … Read more

Pound plunges further as retail sales slump

Ggood morning. There is more bad economic data this morning as August retail sales fell at the fastest pace in eight months. The amount of goods sold in-store and online fell 1.6 percent from July, according to the ONS. That decline was three times greater than predicted. Sales fell across all categories – the first … Read more

Stocks tumble on heels of hot August inflation report

US stock index futures fell sharply on Tuesday after data showed a faster-than-expected rise in consumer prices in August, bolstering bets on a third consecutive 75 basis point rate hike from the Federal Reserve next week. The Ministry of Labor’s Consumer Price Index (CPI) report shows that the monthly CPI rose 0.1% in August from … Read more