Stocks fall to start 2023 on weak market mood
U.S. stock indexes closed lower on Tuesday after a tepid first trading day of 2023, with the S&P 500 down 0.4 percent, the Dow slipping, and the Nasdaq dropping 0.8 percent. Apple slid 3.7 percent, pulling its market value below $2 trillion, while long term yields fell as inflation remains stubbornly hot and rate hikes loom. Investors await Fed minutes and January policy outlook amid recession fears and labor market strength.
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Tesla shares tumble after targets fall short
Tesla stock fell more than 12 percent on the first full day of trading after reporting 2022 vehicle deliveries of 1.3 million, below Elon Musk’s 50 percent growth target. Production rose 47 percent to 1.37 million as discounts and China virus disruptions weigh, while Musk’s Twitter purchase and sales have pressured the stock.
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Microsoft workers vote to unionize ZeniMax in first U.S. video game labor push
About 300 quality assurance testers at ZeniMax Studios voted to join the Communications Workers of America, making Microsoft's Maryland based unit the first and largest union in the U.S. video game industry. The union move follows Microsoft’s pledge to accept the formation as part of its Activision Blizzard deal.
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