Markets Now Wednesday, May 15, 2024

How bad bets on meme stocks led to a $1 billion wipeout

The only thing riskier than betting on meme stocks may be betting against them. That’s the lesson Wall Street’s short-sellers are learning the hard way this week.  
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Think corporate greed is the leading cause of inflation? Think again

President Joe Biden has frequently blamed corporate greed for fueling the high cost of living that Americans are fed up with.  
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Here’s where child care costs at least twice as much as rent

If you think the rent is too damn high, wait until you get the bill for child care.  
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Grocery prices are finally falling

Food shoppers can finally breathe a slight sigh of relief: After years of increases followed by months of plateau, grocery prices fell last month.  
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Taylor Swift’s ‘Eras Tour’ could be worth almost $1 billion to British economy

Taylor Swift’s smash-hit “Eras Tour” is set to boost spending in the United Kingdom by nearly $1 billion, according to estimates by Barclays.  
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Analysis: Why Biden’s monster EV tariffs could inflame a Europe-China trade war

US President Joe Biden has quadrupled tariffs on electric vehicles from China to 100%, effectively sealing off one of the world’s biggest passenger car markets to the largest global producer of EVs.  
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Source: CNN Business