Business News

You may want to jump off Wall Street’s wild ride, but remember: This is what the market does

NEW YORK (AP) — Much like all the upheaval shaking the world, the huge swings rocking Wall Street may feel far from normal. But, for investing at least, all this is typical. Sharp moves for the U.S. stock market, like its recent 6% drop in just a couple of weeks, happen regularly. Stomaching them is the price investors have to pay for the bigger returns that stocks can offer over other investments in the long term. This time doesn’t look much different, experts say. Here’s a glimpse at what’s been behind the market’s wild moves and what experts are advising investors young and old to consider.

Stock market today: Wall Street’s sell-off resumes as AI stars tumble and tariff uncertainty weighs

NEW YORK (AP) — U.S. stocks are back to falling, led by AI superstars now feeling the painful downside of big expectations. The S&P 500 lost 1.4% Thursday, resuming its slide after a mini-recovery the prior day. The Dow Jones Industrial Average dropped 375 points, and the Nasdaq composite sank 1.8%. Marvell Technology dropped sharply even though it reported results for the latest quarter that edged past analysts’ forecasts. That wasn’t enough for investors, who have grown accustomed to companies in the artificial-intelligence industry trouncing expectations. Stocks fell after President Donald Trump’s latest rollback on some of his tariffs, amping up the uncertainty about what’s to come.

Trump delays tariffs on most goods from Mexico for a month

WASHINGTON (AP) — President Donald Trump is postponing the 25% tariffs on most goods from Mexico for a month after a conversation with that country’s president. Trump’s announcement comes after his Commerce Secretary, Howard Lutnick, said tariffs on both Canada and Mexico would “likely” be delayed. This is the second one-month postponement Trump has announced since first unveiling the import taxes in early February. The reprieve would apply to goods that are compliant with the trade agreement Trump negotiated with Canada and Mexico in his first term. “We are working hard, together, on the Border, both in terms of stopping Illegal Aliens from entering the United States and, likewise, stopping Fentanyl,” Trump said on Truth Social.

Trump grants one-month exemption for US automakers from new tariffs on imports from Mexico, Canada

WASHINGTON (AP) — President Donald Trump is granting a one-month exemption on his stiff new tariffs on imports from Mexico and Canada for U.S. automakers. Worries persist that the newly launched trade war could crush domestic manufacturing. The announcement comes after Trump spoke with leaders of the “big 3” automakers, Ford, General Motors, and Stellantis on Wednesday. Asked if 30 days was enough for the auto sector to prepare for the new taxes, White House press secretary Karoline Leavitt says Trump told them: “He told them that they should get on it, start investing, start moving, shift production here to the United States of America where they will pay no tariff.”

The number of Americans filing for jobless benefits falls as labor market remains sturdy

Applications for U.S. jobless benefits fell last week as the labor market remains sturdy ahead of an expected purge of federal government employees. The number of Americans filing for jobless benefits fell by 21,000 to 221,000 for the week ending March 1, the Labor Department said Thursday. That’s significantly fewer than the 236,000 new applications analysts expected. Weekly applications for jobless benefits are considered a proxy for layoffs, which have remained mostly in a range between 200,000 and 250,000 for years. The total number of Americans receiving unemployment benefits for the week of Feb. 22 rose by 42,000 to 1.9 million.

Mortgage rates have declined but could stay at a level that makes it tough to afford a home

LOS ANGELES (AP) — Mortgage rates eased this week for the seventh week in a row, a trend that gives prospective home shoppers more financial flexibility just as the spring homebuying season gets going. The average rate on a 30-year mortgage in the U.S. fell to 6.63% from 6.76% last week, mortgage buyer Freddie Mac said Thursday. A year ago, it averaged 6.88%. But the same factors that have pulled mortgage rates to their lowest level since December — signs that the U.S. economy is slowing and uncertainty over the potential fallout from the Trump administration’s tariffs on imports — are clouding the outlook for where mortgage rates will go from here.

Siemens announces $285 investment in US manufacturing

LOS ANGELES (AP) — Siemens plans to invest $285 million in manufacturing in the United States, the tech company said Thursday, including two new facilities in California and Texas. The U.S. is the largest market for the company. The recent investments in the company’s U.S. manufacturing footprint and the planned acquisition of Altair, a Michigan-based software company, marks a larger $10 billion investment in the U.S. by the company.