US Economy

Chip Stocks Suffer Fresh Rout Despite Record Industry Sales

US semiconductor stocks suffered another sharp selloff on October 22, with the Philadelphia Semiconductor Index falling 6.7%. Despite record chip sales and strong earnings, investors are questioning whether the enormous investment in AI infrastructure can deliver expected returns.

Meta Restructures Shares to Keep Zuckerberg in California

Meta has reached an agreement to keep Mark Zuckerberg in California for eight years by creating non-voting shares he can sell without losing control. The restructuring follows concerns over a proposed 5% wealth tax and gives Meta greater flexibility to finance its AI ambitions.

Warsh Says World Economy Has Withstood Shocks Better Than Expected

Federal Reserve Chair Kevin Warsh says the global economy has performed better than expected despite successive geopolitical and financial shocks. Speaking in Bangkok, he highlighted strong US investment while declining to signal the Fed's next interest-rate decision.

US Inflation Hits 3.7% as Trump’s Cost-of-Living Problem Deepens

US inflation accelerated to 3.7% in September as gasoline prices surged and real wages declined. With midterm elections approaching, Donald Trump faces growing pressure over living costs while the Federal Reserve weighs whether another interest rate increase is necessary.

Gold Rebounds Over 1% as Dollar Retreats From 18-Month High

Gold rebounded more than 1% on October 15 as the dollar retreated from an 18-month high and Treasury yields eased. The recovery followed a sharp inflation-driven selloff, with traders reassessing the likelihood of another Federal Reserve interest-rate increase.