Bridging Divides: Why AllSides Matters More Than Ever
US stocks see biggest drop in two years on tech selloff
US stock markets plunged on Wednesday, recording their worst losses since 2022, after investors sold off shares in struggling tech companies.
The Nasdaq index fell by 3.6%, the S&P 500 dropped 2.3%, and the Dow Jones Industrial average slid 1.2%.
“Signs of nervousness around tech stocks began to creep up in recent weeks,” reported Reuters, pointing to Wall Street’s “vulnerability to any weakness in the Big Tech trade...
Despite gen AI hype, venture capitalists are still largely on the sidelines
Even with hot artificial intelligence startups scoring hefty investment rounds at massive valuations, the broader venture funding environment remains ice cold.
Deal volume for U.S. venture investments in the first quarter sank to its lowest level since 2017, according to data published this week by PitchBook. The story was similar across the globe, with worldwide volume reaching its lowest since 2016 and total deal value falling to a level not seen since 2019.
A solution to the retirement crisis? Americans should work for more years, BlackRock CEO says
With Americans living longer and spending more years in retirement, the nation's changing demographics are "putting the U.S. retirement system under immense strain," according to BlackRock CEO Larry Fink in his annual shareholder letter.
One way to fix it, he suggests, is for Americans to work longer before they head into retirement.
BlackRock’s Larry Fink sees Social Security crisis, says 65 retirement age ‘a bit crazy’
BlackRock Chair Larry Fink said capital markets can help solve a crisis brewing around the ability of Americans to afford retirement as lifespans elongate, and that the government can provide a basic safety net.
BlackRock CEO says Social Security's retirement age 'a bit crazy' as crisis looms
BlackRock CEO Larry Fink sent his annual letter to investors on Tuesday in which he cited the "immense strain" on Social Security amid the aging of the U.S. population and the need to reform the retirement system given its looming insolvency.
Feds Steer $1.5 Billion to GlobalFoundries' Plants in Vermont, New York
GlobalFoundries plans to invest millions of dollars in its Essex Junction plant over the next several years, powered by $1.5 billion that the Biden administration awarded the company on Monday.
America's poorer counties are new investment boomtowns: study
There's an unprecedented building boom underway in America. With it has come a less-noticed phenomenon: a surge of investment into communities left behind in the last economic expansion.
Why it matters: Poorer counties with lower employment rates have attracted a large share of the hundreds of billions of dollars allocated for clean energy projects, semiconductor mega-factories and more.
These are the dividend stocks that will hold up in a weakening economy in 2024, says this highly rated money manager
Do you expect the U.S. economy to slip into a recession next year? If so, you might also expect a reversal of this year’s stock-market rally. Stocks of quality dividend payers that can keep raising payouts might hold up well in that scenario, according to John Bailer, deputy head of equity income at Newton Investment Management North America, a subsidiary of Bank of New York Mellon Corp.
IRS raises 401(k), IRA contribution limits for 2024
The IRS on Wednesday raised the amount that Americans can set aside for retirement in their 401(k) and other tax-deferred plans next year.
Beginning in 2024, workers will be allowed to contribute up to $23,000 to their 401(k), an increase of $500 from this year. The increase applies to other retirement savings accounts, including the 403(b) plan, most 457 plans and the federal government's Thrift Savings Plan.
Catch-up contributions for savers age 50 and older will remain unchanged at $7,500.