GameStop stock surge hits day four, funds walk away
Retail traders scored against Wall Street professionals as GameStop shares surged and hedge funds retreated with heavy losses on short positions in the company.
Retail traders scored against Wall Street professionals as GameStop shares surged and hedge funds retreated with heavy losses on short positions in the company.
The Federal Reserve on Wednesday left its key overnight interest rate near zero and made no change to its monthly bond purchases, pledging again to keep those economic pillars in place until there is a full rebound from the pandemic-triggered recession.
U.S. stocks suffered their biggest one-day percentage drop in three months on Wednesday, adding to losses after the latest Fed statement as major indexes were also pressured by a slump in Boeing and a selling of long positions by hedge funds.
The impeachment proceeding against Donald Trump on a charge of inciting the Jan. 6 attack on the U.S. Capitol has fueled speculation online that he could lose some of the benefits extended to former presidents.
Fiat Chrysler said on Wednesday it will plead guilty to charges it conspired with company executives to make illegal, lavish gifts to United Auto Workers (UAW) leaders and undermined workers' confidence in collective bargaining.
The United States could face a heightened threat of domestic extremist violence for weeks from people angry at Donald Trump's election defeat and inspired by the deadly storming of the U.S. Capitol, the Department of Homeland Security warned on Wednesday.
CoreCivic and the GEO Group, two of the largest U.S. private prison companies, could lose as much as a quarter of their revenue, about $1 billion a year between them, under new limits on the sector from President Joe Biden.
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