U.S. stocks tumbled on Wednesday, with the S&P 500 marking its biggest daily decline since Feb. 8, and technology stocks led the losses as rising U.S. Treasury yields sent investors fleeing from risky assets.
U.S. President Donald Trump has been briefed on Wednesday's stock market sell-off, a senior White House official told CNBC, as the Dow Jones Industrial Average dropped more than 3 percent in one day and the S&P 500 marked its biggest daily decline since February.
The far-right front-runner in Brazil's presidential election, Jair Bolsonaro, has no plans to privatize state-run oil company Petroleo Brasileiro SA in the short-term if elected, the president of his Social Liberal Party told Reuters on Wednesday.
A U.S. financial regulator may sanction Citigroup Inc for denying minority customers the kinds of mortgage discounts that the bank offered to many other borrowers, three people familiar with the probe told Reuters.
Outgoing Twenty-First Century Fox Inc Chief Executive James Murdoch is the lead candidate to replace Elon Musk as Tesla Inc chairman, the Financial Times reported on Wednesday, citing two people briefed on the discussions.
Tesla shareholder T. Rowe Price Group Inc raised its stake in the electric car maker by nearly half in the July-September quarter, according to a regulatory filing on Wednesday, an apparent vote of confidence for embattled CEO Elon Musk.
Wall Street shares slid on Wednesday, with all three major U.S. indexes down more than 2 percent in the afternoon as investors dumped high-growth names such as technology and FAANG stocks, with rising Treasury yields and trade-related worries sapping their risk appetite.
The federal government will tighten rules on foreign investment in sensitive industries like technology and telecommunications next month, the Treasury Department said on Wednesday, as it starts to enforce a law aimed at curbing Chinese investment in 27 sensitive sectors.