Biggest US tech sell-off for over a decade reflects impatience over AI profits
Thursday, 25 July 2024 The Nasdaq and S&P 500 have suffered their worst single-day decline since 2022 - led by underwhelming financial results from Tesla and Alphabet, the owner of Google.
Trump’s sudden 90-day tariff pause sparked market chaos and a massive tech rebound. Elon Musk’s Tesla surged 22%, boosting his net worth by $36 billion. Silicon Valley allies, including Mark Zuckerberg, gained big—while Nancy Pelosi’s portfolio dropped $7 million. A Trump Truth Social post urging followers to “buy” right before the announcement fueled allegations of insider advantage and market manipulation. While the S&P 500 recovered $4 trillion in value, analysts remain skeptical about long-term stability amid ongoing China tensions.
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China-US Tariff War: President Donald Trump has declared a 90-day pause on all new "reciprocal" tariffs, excluding China, which now faces a 125% levy. The decision triggered a massive rally on Wall Street, with the S&P 500 seeing its best day since 2008. Trump emphasized the need to avoid hurting friendly nations. However, economists remain cautious—Goldman Sachs warns of a 45% chance of a U.S. recession. Despite market optimism, analysts suggest the pause may not fully counteract the economic turbulence sparked by the ongoing global trade war.
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Wall Street plunged as Trump's tariff war sent global markets into turmoil. The S&P 500 saw its worst drop since 2020, while Trump declared the U.S. the "sumo wrestler" of world trade. Investors panic as fears of economic slowdown rise. Will the U.S. economy withstand the pressure? Stay tuned for updates.
#US #StockMarketCrash #TrumpTariffs #TradeWar #USAEconomy
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Natasha Lyonne is set to make her feature directorial debut with a film that will make abundant use of A.I. The Hollywood Reporter has learned that the film titled 'Uncanny Valley' will be set in the world of immersive video games and utilize A.I. Lyonne is working on the project with Brit Marling, and they've teamed up with longtime technology innovator (and sometime-skeptic) Jaron Lanier.
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What does it mean to raise a child in the age of AI? One father is finding out through play
In South Korea, an AI education boom is pushing for children to learn about the tech early to avoid being left behind. For one family, it has become a fun playtime activity that inspires learning.
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Season seven of 'Black Mirror' is now streaming on Netflix. Issa Rae and Awkwafina spoke to The Hollywood Reporter all about their episode, "Hotel Reverie," while Jimmi Simpson opened up about returning to the show for the "USS Callister" sequel episode. "Hotel Reverie" is incredibly timely, as it deals with the use of A.I. in movie making. Rae and Awkwafina opened up about their fears surrounding the use of A.I. in Hollywood. Plus, all three stars weighed in on why they think 'Black Mirror' continues to connect with viewers.
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This AI successfully applied to become an art student at a university in Vienna
The arts university in Vienna says the AI will attend classes, receive critiques, and get grades alongside human students.
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Extinction Rebellion stages Earth Day protest outside Tesla showroom
Climate activists held a demonstration outside a Tesla dealership in Manhattan on Earth Day, criticising Elon Musk and his involvement in the recently formed Department of Government Efficiency in the US.
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Musk vows to step back from DOGE job and put more time into Tesla
Elon Musk says he’ll be spending less time in Washington slashing government costs and more time running Tesla after his electric vehicle company reported a big drop in profits.
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Elon Musk has said the time he spends with Donald Trump's Department of Government Efficiency (Doge) will "drop significantly" from May and he will allocate more.. Sky News
In a shocking move, Moldovan authorities have blocked Bishop Marchel of the Moldovan Orthodox Church from traveling to Jerusalem for the sacred Holy Fire ceremony, a pivotal moment for Orthodox Christians. Despite having all legal documents in order, Bishop Marchel and his fellow clerics were detained, searched multiple times, and stripped of their passports, missing the flight to Jerusalem. The move has sparked international outrage, with critics calling it politically motivated and a direct attack on religious freedom. The Russian Orthodox Church and lawmakers have condemned Moldova’s actions, while human rights organizations demand accountability. This unprecedented interference raises serious questions about the state of religious rights in Moldova.
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