CNBC Daily Open: Markets drop on hot economy — and chance of 0.5% interest rate hikes
Publishing timestamp: 2023-02-16 19:27:08
Summary
US stocks fell on Thursday due to declines in Microsoft, Disney, and Tesla. Bitcoin jumped to its highest since last August. US producer price index rose 0.7%, the biggest increase since June. Tesla is recalling 362758 vehicles equipped with its experimental driver-assistant software. The Security and Exchange Commission filed a charge against Terraform Lab and its CEO for alleged crypto asset securities fraud. US economy is firing on all cylinders, but markets caved in due to hawkish rhetoric from the Federal Reserve.
Sentiment: NEGATIVE
Keywords: business news, japan, autos, technology, walt disney co, interest rates, united states, federal reserve bank, microsoft corp, jobs, cryptocurrency, inflation, world markets, markets, tesla inc,