Here’s a snapshot of the latest developments in U.S. finance and business as of Saturday, May 24, 2025:
Here’s a snapshot of the latest developments in U.S. finance and business as of Saturday, May 24, 2025: 📉 Market Overview U.S. stock markets experienced significant declines today, driven by renewed concerns over tariffs and the growing federal deficit: BBC +8 Yahoo Finance +8 Yahoo Finance +8 S 500: down 2.6% Dow Jones Industrial Average: down 2.5% Nasdaq Composite: down 2.5% WSJ +1 Wikipedia +1 Investors are reacting to President Trump's proposed tariffs on Apple and the implications of his substantial tax bill on the national deficit. Yahoo Finance 🏦 Financial Sector Highlights Major Banks: Institutions like JPMorgan Chase, Bank of America, and Wells Fargo are under scrutiny as market volatility persists. Investor's Business Daily Stablecoin Initiative: Leading U.S. banks are reportedly exploring the launch of a joint stablecoin to counteract competition from the cryptocurrency sector. WSJ 🏠 Real Estate Corporate Developments Housing Market: De...