Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
President Trump also said he is "not looking for a partial deal" with Beijing, moving away from his suggestion last week that he would consider an "interim deal."Politicsread more
Progress on trade talks will determine how far market will move above new highs.Trader Talk with Bob Pisaniread more
"Sure, the trade war's taking its toll on business ... it's just not taking its toll where it was supposed to," Jim Cramer says.Mad Money with Jim Cramerread more
Joe Biden called on President Donald Trump Friday to release the transcript of a call with a foreign leader that is the subject of a whistleblower complaint. Biden described...Politicsread more
For investors taking a breather from the chaos in August, buckle up as the market is about go crazy again, Goldman Sachs warned.Marketsread more
Palantir Technologies is targeting a valuation of at least $26 billion in a private fundraising round, the first for the Peter Thiel-backed data analytics startup in four...Wall Streetread more
Michael Pack, a conservative filmmaker linked to Steve Bannon, saw at least $1.6 million in donations from his nonprofit sent into the coffers of his independent production...Politicsread more
The New England Patriots released Antonio Brown just 11 days after signing the wide receiver. The NFL Super Bowl champion team initially had kept him in the face of a rape...Sportsread more
A tour bus carrying Chinese-speaking tourists crashed near a national park in southern Utah, killing at least four people and critically injuring up to 15 others, authorities...U.S. Newsread more
The market's freshest technology stocks tumbled on Monday, performing worse than the major indexes and trailing the broader tech sector.
Zoom, the video-chat company that debuted with a 72% pop in April, closed down 11% at $89.41. The plunge shaved $2.8 billion from its market cap, which now sits at $22.9 billion. Beyond Meat, the top-performing IPO of 2019, fell 8.5% Monday, dropping its market cap by $700 million to $8.2 billion. At $140.99, the stock is still up more than fivefold from its IPO price of $25.
Emerging tech companies have been some of this year's best performers, but they now trade at revenue and earnings multiples that are significantly higher than their peers. That leaves them vulnerable to bigger drops on days when investors express concerns about the economy. The tech-heavy Nasdaq Composite Index fell just 0.3% on Monday, and the slipped 0.2%.
Other recent tech IPOs also had rough days on Monday. PagerDuty, which provides tools for developers, dropped 7.7%, and security software vendor CrowdStrike lost 5.9%. Another enterprise company, Fastly, fell 3.9%, while social media platform Pinterest slid 3.9%. Ride-sharing rivals Lyft and Uber fell 0.8% and 2.1%, respectively.
Even the newest tech stock on the New York Stock Exchange, Slack, fell 3.9% Monday to $35.76. Slack began trading on Thursday in a direct listing. The share price is still well above the $26 reference price set by the NYSE ahead of its debut.
Fiverr, a platform that connects employers to freelance workers, was a rare bright spot among the tech IPO class, rising 5.3% Monday.