Markets Now February 13, 2024

Dow tumbles more than 500 points as hot inflation data stokes fears about higher-for-longer rates

Stocks took a dive Tuesday after a key inflation report revealed stubborn price increases, raising concerns on Wall Street that the Federal Reserve will keep rates higher for longer than anticipated.  
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Carl Icahn buys a huge stake in JetBlue at bargain prices

JetBlue’s stock soared more than 14% in premarket trading Tuesday after financier Carl Icahn disclosed late Monday that he had taken a 9.9% stake in the company.  
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The Fed can still break markets. Here’s how

Major US indexes notched their fifth consecutive winning week on Friday as strong corporate earnings and gains in Big Tech added to fervor on Wall Street. These gains took place even as the Federal Reserve officials have attempted to reduce expectations for several interest rate cuts this year.  
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Japan’s Nikkei hits 34-year high

Japan’s Nikkei share average closed at a fresh 34-year high on Tuesday as trading resumed after a long holiday weekend, with tech-related shares and strong corporate earnings supporting the benchmark stock index.  
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Uber, Lyft and Deliveroo workers in US and UK plan Valentine’s Day strike

Thousands of drivers for ride hailing services and food delivery riders in the United States and United Kingdom are planning to strike on Valentine’s Day in disputes over pay and working conditions.  
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How Vince McMahon built an empire on fakery and taught Donald Trump to control a crowd

While McMahon has officially stepped out of the ring, his name won’t be easily excised from the world of wrestling he built over four decades.  
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Source: CNN Business