Markets tumble worldwide on renewed growth worries
Global markets slumped as China fears and higher interest rates hit stocks. The S P 500 shed 3.2 percent to 3 991.24 while the Dow fell 653.67 points to 32 245.70 and the Nasdaq dropped 521.41 points. energy shares led declines as oil slid and bonds and gold fell.
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New York
Wall Street
China
Europe
Asia
U.S
Marathon Oil
APA Corp
Sam Stovall
CFRA
Dow
Federal Reserve
Fed
Treasury
Coindesk
Savita Subramanian
Bofa
Rivian Automotive
Dow Industrials
Dow Transportation
Dow Utilities
NYSE
S&p
Wilshire
Russell
China faces export drop as inflation dents global demand
China’s April exports grew 3.7 percent to 273.6 billion dollars, down from March’s 15.7 percent, while imports rose 0.7 percent to 222.5 billion. Weak foreign demand and zero COVID measures depress trade. U S imports rise lightly, and China’s EU trade surplus widens amid ongoing virus controls and factory disruptions across Shanghai and other centers.
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Beijing
China
Shanghai
United States
Julian Evans-Pritchard
Capital Economics
Xi Jinping
Guangzhou
Changchun
European Union
Europe
Clearview AI agrees to limits in settlement
Clearview AI will permanently stop selling face database access to private entities in the United States and halt Illinois state government and local police access for five years. The settlement ends a two year suit by the ACLU over Illinois privacy law, while separate federal cases continue. The company will still serve federal agencies and non Illinois law enforcement, and critics warn about misuse of faceprints. The deal avoids a drawn out dispute, with lawyers noting minimal changes to current business practices.
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Clearview AI
U.S
American Civil Liberties Union
Illinois
Clearview
U.S. Immigration and Customs Enforcement
Linda
Xochitl
Floyd Abrams
Abrams
ACLU
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