Tensions between Japan and South Korea come as the U.S. and its trading partners are embroiled in a global trade war.Technologyread more
The one-to-eight stock split would mean the current number of ordinary shares — which stands at 4 billion — will increase to 32 billion. It comes ahead of a reported Hong Kong...Asia Marketsread more
Minutes from the Reserve Bank of Australia's monetary policy meeting in July showed the central bank was ready to adjust interest rates if required.Asia Marketsread more
Current and former Tesla employees working in the company's open-air "tent" factory say they felt pressure to take shortcuts to hit aggressive Model 3 production goals,...Technologyread more
China's fiscal spending increased 10.7% in the first six months from a year earlier, the finance ministry said on Tuesday, underlining the government's bid to support the...China Economyread more
The findings by McKinsey and Company come amid a year-long tariff fight between the U.S. and China, which has spilled into areas such as technology and security.China Economyread more
Microsoft's considerable reach into the corporate world isn't something Slack CEO Stewart Butterfield is very concerned about.Technologyread more
A devastating outbreak of African swine fever that has killed millions of pigs in China is changing attitudes in a country where farm hygiene has often been seen as lax by...Livestockread more
In a closed-door meeting at a Manhattan mansion, executives outlined changes to controversial software that was implicated in two crashes.Aerospace & Defenseread more
President Donald Trump and the RNC are picking up key supporters in the business community who did not back him as a candidate in 2016.2020 Electionsread more
Amazon workers in Minnesota and Germany are striking as Prime Day kicks off, in a stand against working conditions and wage practices. The action in Minnesota represents the...Retailread more
U.S. equities closed little changed on Wednesday as Congress approved a bill that would cut corporate taxes.
The Dow Jones industrial average slipped 28.10 points to 24,726.65. The finished 0.1 percent lower at 2,679.25, with utilities and real estate offsetting a 1.4 percent gain in energy. The Nasdaq composite closed flat at 6,960.96 as large-cap tech stocks like Apple, Facebook and Alphabet traded lower.
"There is positive momentum in the economy and the market, but we've had a big run-up recently, so now we're just treading water," said Lisa Erickson, head of traditional investments at U.S. Bank Wealth Management.
Senate Republicans approved sweeping amendments to the U.S. tax code Tuesday, including reducing the corporate tax rate to 21 percent from 35 percent.
The House voted to pass the measure again on Wednesday, after a procedural snag forced members of the lower chamber to hold another vote on the bill
Originally, three provisions in the bill did not comply with the Byrd Rule, which governs what types of provisions the Senate may consider under the procedural budget window known as reconciliation.
Randy Frederick, vice president of trading and derivatives at Charles Schwab said the market believed it was "almost a near certainty" that the bill would pass. "The challenge was getting it passed through the Senate, and it did so with three votes to spare."
Stocks opened higher on Wednesday before pulling back. Investors have been eagerly waiting for lawmakers to move forward with the bill, sending the major stock indexes to record highs this year.
A rapid rise in interest rates also took some momentum off the stock market. The 10-year U.S. yield hit 2.5 percent, its highest level since March 20, while the two-year yield rose to its highest level since October 2008.
In corporate news, shares of FedEx rose 3.5 percent after the delivery giant's quarterly results surpassed estimates. Micron shares popped 4 percent as its earnings and revenue also beat expectations.
In economic news, weekly mortgage applications fell 4.9 percent, while existing home sales hit an 11-year high.
—CNBC's Jacob Pramuk contributed to this report