The US economy shrank for a second quarter in a row—a common definition of recession—as businesses trimmed their inventories, the housing market buckled under rising interest rates, and high inflation took steam out of consumer spending. Gross domestic product, a broad measure of the goods and services produced across the economy, fell at an inflation … Read more
Town Sara Ruberg spirit Alistair MacDonald | Photography by Tom Jamieson for The Wall Street Journal July 8, 2022 5:30 am ET LONDON — Rampant food inflation is roiling the world’s least-developed nations. It is also hitting poor people in rich countries. Matsentralen Norge, a food-bank operator in oil-rich Norway, says it is distributing 30% … Read more
Turmoil in the digital-assets ecosystem has grown in recent weeks, with losses in cryptocurrencies blowing holes in balance sheets and pushing firms near bankruptcy. After a pair of cryptocurrencies crashed, wiping out billions of dollars in value in May, a British Virgin Islands court this past week ordered a hedge fund that had survived several … Read more
Town WSJ Graphics Staff July 1, 2022 5:30 am ET Listen to article (1 minute) Markets got off to a bad start in early 2022, and the situation has grown worse since then, with broad selloffs in stocks, bonds and cryptocurrencies. As investors look ahead to the second half of the year, they are asking … Read more
What’s Holding Back Boeing’s 787 Dreamliner? – WSJThe Wall Street Journal
A few months ago, Mike Washburn’s cryptocurrency investment looked like a winner. Now he’s just hoping to get his money back. Mr. Washburn, a 35-year-old plumber in Otsego, Minn., Had $ 100,000 in an account at Celsius Network LLC, one of the largest lenders in the cryptocurrency world. Recently widowed, Mr. Washburn said he and … Read more
Big technology stocks are in the midst of their biggest rout in more than a decade. Some investors, haunted by the 2000 dot-com bust, are bracing for bigger losses ahead. The S&P 500’s information-technology sector has dropped 20% in 2022 through Wednesday, its worst start to a year since 2002. Its gap with the broader … Read more
Updated June 10, 2022 2:33 pm ET Listen to article (2 minutes) US consumer inflation reached its highest level in more than four decades in May as surging energy and food costs pushed prices higher, with little indication of when the upward trend could ease. The Labor Department on Friday said that the consumer-price index … Read more
As US gasoline prices approach a record average of $ 5 a gallon, fuel costs are rippling through almost every corner of business, with signs emerging that rising costs are beginning to alter consumer behavior. The price of regular gasoline averaged about $ 4,986 on Friday, up around 22 cents from the prior week and … Read more
Big technology stocks are in the midst of their biggest rout in more than a decade. Some investors, haunted by the 2000 dot-com bust, are bracing for bigger losses ahead. The S&P 500’s information-technology sector has dropped 20% in 2022 through Wednesday, its worst start to a year since 2002. Its gap with the broader … Read more