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Markets

Stock Turmoil Spreads to Junk Bonds, Hurts Deals

Stock Turmoil Spreads to Junk Bonds, Hurts Deals

Shock waves from the stock market’s declines are spreading into junk bonds, sending prices tumbling and forcing some companies to cancel new deals. Average prices of US high-yield bonds fell to around 91 cents on the dollar Monday, the lowest level since May of 2020 when pandemic shutdowns slammed the global economy, according to data […]

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Markets

Thierry W. Despont’s Personal Hamptons Home Hits the Market for $23.5 Million

Thierry W. Despont's Personal Hamptons Home Hits the Market for $23.5 Million

The architect and designer Thierry W. Despont, known for designing lavish homes and hotels around the world, is listing his personal Hamptons estate for $23.5 million. Set on roughly 34 acres, the Southampton property was a horse farm that Mr. Despont transformed into a residence with a separate guesthouse and pool house, according to Harald […]

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Business

Cryptocurrency TerraUSD Plunges as Investors Bail

Cryptocurrency TerraUSD Plunges as Investors Bail

A selloff in a cryptocurrency that was supposed to be pegged to $1 accelerated Wednesday, briefly sending its price to less than a quarter of that value. TerraUSD traded as low as 23 cents Wednesday, according to data from CoinDesk. As of 2:43 pm ET, it had partially rebounded to about 68 cents in volatile […]

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Markets

Stocks Climb on Inflation Data

Stocks Climb on Inflation Data

Stocks swung between gains and losses Wednesday after fresh data showed inflation eased slightly in April but not as much as economists expected. The S&P 500 rose 0.7% in morning trading. The index snapped a three-day losing streak Tuesday, hitting pause on a stretch of pressure that came as investors braced for the Federal Reserve […]

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Business

Bitcoin Prices Fall. Cryptos Pressured as Terra’s Meltdown Intensifies.

Bitcoin Prices Fall. Cryptos Pressured as Terra's Meltdown Intensifies.

Bitcoin prices have suffered a route over the past week alongside other cryptocurrencies. dreamstime Textsize Bitcoin and other cryptocurrencies remained under pressure Wednesday, but above their Tuesday lows, with the focus on the meltdown of stablecoin TerraUSD, which is designed to be pegged to the US dollar. The price of Bitcoin fell 2% over the […]

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Economy

How the Inflation Rate Is Measured: 477 Government Workers at Grocery Stores

How the Inflation Rate Is Measured: 477 Government Workers at Grocery Stores

READING, Pa.—Emily Mascitis has one of the most important jobs you never knew existed. As Americans’ monthly bills climb at the fastest rate in four decades, it is Ms. Mascitis’s work that confirms the $9 you just paid for a 4-pound bag of clementines isn’t an anomaly. Newsletter Sign-up The 10-Point. A personal, guided tour […]

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Business

Prologis Offers to Buy Duke Realty in Nearly $24 Billion Deal

Prologis Offers to Buy Duke Realty in Nearly $24 Billion Deal

prolog Inc., PLD -5.26% the world’s largest owner of warehouse space, said it offered to buy Duke Realty Corp. DRE 3.92% in a nearly $24 billion deal, a vote of confidence in the e-commerce business at a time when investors are getting nervous about its growth. Prologis controls a 1 billion square foot global network […]

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Markets

Dow Falls for Fourth Straight Day

US Stocks Turn Lower, Extending Selloff

US stocks swung between gains and losses on Tuesday as uncertainty over inflation, interest rates and the economy continued to weigh on the market. All three major indexes opened higher, with the technology-heavy Nasdaq Composite up 2.8% at one point. By late morning, stocks had mostly erased those gains and appeared on track to extend […]

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Personal Finance

How to Save for Retirement in Trying Times, According to a Top Financial Expert

How to Save for Retirement in Trying Times, According to a Top Financial Expert

Christine Benz, morning star ‘s director of personal finance, is a mix of analytical and practical. Her analytical side of her says US growth stocks are overvalued, so she advises investors to load up on foreign stocks and cheaper US value stocks. Her practical side of her realizes that Americans worry about their mortgages or […]

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Markets

Don’t Tax, Set the Rules and Trust the Market

Don't Tax, Set the Rules and Trust the Market

May 10, 2022 12:46 p.m. ET E85 fuel at a gas station in Nevada, Iowa. Photos: Jason Reed/REUTERS Tom Hazelleaf (Letters, May 2) is right about letting markets lead the fight against climate change, but wrong about imposing a carbon tax. Gasoline is the largest emitter by far of new carbon dioxide. The price elasticity […]