Saturday's attack is the biggest on Saudi oil infrastructure since Saddam Hussein's invasion of Kuwait in 1990.Energyread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
"Blaming Iran won't end disaster. Accepting our April '15 proposal to end war & begin talks may," Zarif said on Twitter.Energyread more
Oil prices are expected to jump as much as $10 per barrel after a coordinated drone strike hit Saudi Arabia's largest oil field, forcing the kingdom to cut its oil output in...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
Semiconductor stocks had their worst day in a decade Wednesday after a slew of disappointing earnings from leading chipmakers and a sell-off in the broader markets.
The VanEck Vectors Semiconductor ETF, which trades under the ticker SMH, closed down 6.7 percent — the biggest downturn for the group since November 2008. Chipmaker Nvidia meanwhile posted its worst day since May 2011, down 9.8 percent for the day.
It's been a tough week for semiconductor-related stocks. Shares of chipmaker Advanced Micro Devices, or AMD, fell as much as 18 percent in extended trading Wednesday after the company reported third quarter revenue that missed Wall Street estimates. Also on Wednesday, Texas Instruments tumbled after disappointing quarterly earnings and lowered outlook.
Major components of the SMH have been trading firmly in a bear market amid the U.S.-China trade war, and concerns around China's economic growth. The White House implemented 10 percent taxes on $200 billion worth of Chinese imports in September. Those tariffs are set to rise to 25 percent by January 1 and could affect products manufactured with semiconductors.
"What concerns us is most of the companies in the index are trading at super-high valuations, you may see demand slowing, and the perception is such that with these trade and tariff wars, with everything going on in China and across the U.S., that people are concerned with how this settles out," Matt Maley, equity strategist at Miller Tabak told CNBC's Trading Nation Wednesday.
The tech-heavy Nasdaq Composite fell 4.4 percent to 7,108.40— entering correction territory — with its worst day since 2011 on Wednesday.