And it’s bringing some unconventional advocates to help: online influencers. WASHINGTON (AP) - TikTok is ramping up a public relations campaign to fend off the possibility of a nationwide ban by the Biden administration. TikTok sends influencers to Washington as its troubles grow Treasury yields sank again to continue their remarkable slide for the month so far.
Some of the sharpest drops came again from the banking industry, where investors are worried about the possibility of customers yanking their cash to cause more collapses. The Dow Jones Industrial Average lost 530 points. The S&P 500 fell 1.6% for its first drop in three days.
But it also indicated the end may be near for its economy-crunching hikes to interest rates. NEW YORK (AP) - Stocks fell sharply after the Federal Reserve said it doesn’t expect to cut rates anytime soon despite Wall Street’s hopes. Stocks fall, bond yields tumble after Fed’s latest rate hike At the same time, the Fed warned that the financial upheaval stemming from the collapse of two major banks is “likely to result in tighter credit conditions” and “weigh on economic activity, hiring and inflation.” The Fed also signaled that it’s likely nearing the end of its aggressive series of rate hikes. banking system is sound and resilient,” the Fed said in a written statement. WASHINGTON (AP) - The Federal Reserve extended its year-long fight against high inflation by raising its key interest rate a quarter-point despite concerns that higher borrowing rates could worsen the turmoil that has gripped the banking system.
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