President Donald Trump on Monday got to ring the opening bells for the New York Stock Exchange and the Nasdaq from the golden confines of the Oval Office.
The Dow Jones Industrial Average closed down more than 400 points on Tuesday as the U.S.-Israeli war with Iran prompted a selloff.
Oil prices leaped Monday on worries that war with Iran could clog the global flow of crude and make inflation even worse. U.S. stocks, meanwhile, swung from sharp losses to a tiny gain.
Shares in the financial technology company Block have soared more than 20% in after-hours trading after its CEO announced it was laying off more than 4,000 of its 10,000 some employees due to efficiency gains from artificial intelligence.
Facebook owner Meta Platforms announced a landmark deal to buy artificial intelligence chips from Advanced Micro Devices in a deal that will also give it the opportunity to buy up to a 10% stake of the chip company. The deal estimated to be worth more than $100 billion, positions AMD as a major alternative to Nvidia.
The selloff came in the first trading session since Trump floated the levies.