World stock rout as Dow slides over 1000 points
Global markets tumbled with the Dow down 1,033 points and the S&P 500 off 3 percent as tech shares shed gains. Japan's Nikkei fell 12.4 percent amid fears of a slowing U.S. economy and a possible emergency Fed rate cut.
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Fed Signals Possible Rate Cut Amid Slowdown Fears
Washington economists and traders fear the Fed held rates too high, sparking recession worries. Powell indicated potential cuts by September as jobs improve uncertainty and markets react to July unemployment rises and global selloffs.
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Google judged to hold illegal monopoly in search market
A U S district judge ruled Google uses its dominance to suppress competition and stifle innovation. The 277 page ruling cites an 89.2 percent general search share and 94.9 percent on mobile, signaling a major antitrust setback with appeal planned by Alphabet.
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