Experts believe a wider spat with Europe would be much more damaging than the current tit-for-tat with China.Traderead more
After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.Market Insiderread more
The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
Markets pay particular attention to Italy's spending, given its public debt pile. This stands at above 130% of its growth rate, one of the highest in the world.Politicsread more
Flight bookings to Hong Kong have fallen 10%, hit by the unrest in the city, said Alan Joyce, the chief executive of Australian carrier Qantas Airways.Airlinesread more
Analysts generally doubt how effective the People Bank of China's latest interest rate announcement will be in significantly helping businesses grow.China Economyread more
These in-demand skills can command top pay packets, says Feon Ang of professional networking site LinkedIn.Get Aheadread more
Japanese manufacturing activity shrank for a fourth straight month in August as export orders fell at a sharper pace.Asia Marketsread more
The Washington governor had centered his campaign around climate change, calling it "the most urgent challenge of our time."Politicsread more
The inversion is seen by many veteran traders as an important recession omen, though the timing on the eventual downturn is less predictable.Bondsread more
Here's what Nordstrom reported for its fiscal second-quarter earnings.Retailread more
Jeff Bezos' wealth has been on a wild roller-coaster ride over the past 24 hours.
Thursday morning, the Amazon CEO became the richest man in the world when Amazon's stock soared on earnings expectations. By noon, when Amazon stock topped $1,082 per share, Bezos' wealth soared past $92 billion, putting him past Bill Gates.
But after disappointing earnings, Amazon stock plunged — and so did Bezos' net worth. Amazon stock opened at $1,011 and kept falling. His fortune fell by more than $6 billion from its peak on Thursday in recent trading. Bezos owns slightly more than 16 percent of Amazon.
Of course, we shouldn't shed a tear for Bezos. Even with the drop, his wealth has increased by more than $25 billion over the past year. And he is still the second-richest man in the world, ahead of Spanish retailing tycoon Amancio Ortega. Given that Bezos manages for the long term, it's likely he will regain the title of richest person again soon.
Bezos has been a billionaire for nearly 20 years, first making the Forbes list in 1998 with a net worth of $1.6 billion after Amazon's IPO. He chugged along for the following decade, reaching $4.4 billion in 2007, gradually rising to $18.4 billion by 2012, ranking him 26th on the list.
But over the past two years, as Amazon's stock has soared, so has Bezos' fortune. He owns 79.9 million shares. His net worth has grown by more than $65 billion over the past five years.
Yet the 24-hour ups and downs of Bezos' fortune show that today's paper wealth is just that — paper. What the market giveth, the market can also taketh away.