Business
Dow slips as oil hovers near $100 a barrel
The Economic Times··3d ago
The Dow Jones Industrial Average fell 184.94 points to 51,863.89 on Tuesday while the S&P 500 slipped to 7,764.27. The Nasdaq Composite rose to 27,243.24. Oil stayed choppy near $100 a barrel. Meta's Muse AI assistant lifted chip names but dragged Uber, Lyft and Expedia. Traders saw a 53 percent chance of a 25 basis-point Fed rate hike in October.
Prism
What It Means For You
- Charles Schwab shares fell 5.5 percent as investors weighed Muse managing financial relationships.
- Amazon blocked Muse from shopping on its platform on Monday.
- Boston Fed President Susan Collins backed last week's rate increase citing inflation risks.
What's Happening
- Micron gained 3.9 percent and SanDisk surged 7.2 percent among chip stocks.
- Uber and Lyft each fell about 1 percent; Expedia dropped 4 percent.
- The 10-year Treasury yield hovered around 4.94 percent after Trump's UN remarks on Iran.
Muse and Markets
- Meta launched the Muse assistant earlier in September to send email and complete transactions.
- Investors watched Thursday's US-China summit for trade truce and AI regulation signals.
- JPMorgan Chase and Wells Fargo shares also lost ground in the session.
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