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The National Highway Traffic Safety Administration (NHTSA) has launched a defect investigation into approximately 1,000 Tesla Robotaxis. A petition against Tesla alleges that the vehicles in question exceeded the published speed limits in school zone speed limits when these zones were in operation.Sources familiar with the matter say Saudi Arabia is increasingly dissatisfied with the limited aid provided by its Western allies. They say the UK has provided an aerial refueling tanker, but Saudi Arabias requests for additional defense support in recent weeks have yet to be approved.October 12th - On Monday morning, market sentiment was pressured by a new round of attacks on Saudi Arabia, causing stock markets to fall. Saudi Arabias benchmark stock index fell 0.6%, and oil giant Saudi Aramco fell 0.3%. Most Gulf stock markets rose slightly. Dubais main stock index rose slightly by 0.1%, and Abu Dhabis stock index rose 0.1%. Qatars stock index rose 0.5%, on track to recover some of the previous days 1.5% loss. Investors were hesitant to make large bets due to the continued uncertainty surrounding the US-Iran conflict, resulting in cautious trading.Russian Economy Minister: Risks from non-economic factors, such as attacks on infrastructure, could lead to deviations from economic growth forecasts.Saudi Energy Minister: Saudi Arabia is seeking international participation in alternative pipeline projects. The goal is to diversify ownership, operational rights, and financing sources to ensure the pipeline becomes an international pipeline.

S&P 500, Dow Pressured by Weak Economic Data, Hawkish Fed Remarks

Cory Russell

Jan 19, 2023 17:29

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The S&P 500 and the Dow both fell by about 2% on Wednesday, sending the main U.S. stock index futures down. Wall Street suffered its largest daily loss in more than a month as hawkish remarks from two Fed members and dismal economic data contributed to investor desire for lower-risk assets.


The benchmark S&P 500 Index finished the day on Wednesday at 3928.86, down 62.11 or -1.56%. The blue chip Dow Jones Industrial Average ended the day at 33296.96, down 613.89 or -1.81%, while the tech-heavy NASDAQ Composite dropped 138.10, or 1.24%, to close at 10957.01.


Wednesday's Recap Following the release of data revealing a decline in industrial production last month and the largest drop in retail sales in a year, U.S. equities dipped just before the cash market opened on Wednesday.


The theme of a weakening economy and an impending recession in 2023 was furthered by the drop in both industrial output and retail expenditure. Additionally, it could have dispelled last week's market craze about a "soft-landing" recession.


Investors also had to cope with Microsoft's announcement of 10,000 layoffs and hawkish remarks from Cleveland Fed President Loretta Mester, St. Louis Fed President James Bullard, and Philadelphia Fed President Patrick Harker in addition to the bad economic news.

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