Category: stocks

Asian stocks were mostly lower on Wednesday after Wall Street snapped its record bull run with its worst day in weeks. Hong Kong's Hang Seng Index fell 1.1% to 16,753.82, while Shanghai's Composite Heel Index dropped 0.2% to 3,070.04. Analysts said that despite recent relatively positive economic signs from China, there is growing concern that the sentiment that has panicked Wall Street could spread to Asia.

The guidance provided by Gwen's staff at the recent Investor Day presentation raised almost as many questions as it provided answers.

The earthquake in Taiwan, the strongest in at least 25 years, has also put pressure on the global supply chain. The island accounts for about 90% of chipmaker TSMC's production, and while most of its factories are located across the river from the epicenter, they are filled with fragile equipment that is critical to producing chips for global companies. TSMC said it had evacuated some of its manufacturing plants and that its security systems were functioning normally, while it confirmed the details of the impact.

The 10-year Treasury yield hit its highest level since November as traders adjusted to the Fed's delay in cutting interest rates.

Donald Trump is suing two co-founders of Trump Media & Technology Group, the newly publicized parent company of Trump's "truth social" platform. The former U.S. president of agriculture's lawsuit was filed in a Florida court on March 24, and follows a lawsuit filed in February by Andy Litinsky and Wes Moss, the two co-founders of the name. In the lawsuit, Trump claims that Litinsky and Moss, both former contestants on Trump's reality TV show The Apprentice, mishandled an attempt to take Trump Media public a few years ago, allegedly putting the entire project "on hold" for over a year and a half.