Cnn business news 28 august 2019
Here are some of the top stories from CNN Business News on August 28, 2019:
Market News
- Dow Jones Industrial Average falls 600 points: The Dow Jones Industrial Average plummeted 600 points, or 2.1%, to 26,078. The S&P 500 fell 2.1% to 2,926, and the Nasdaq Composite dropped 2.5% to 8,004.
- Stocks slide as trade tensions escalate: Investors grew increasingly concerned about the escalating trade tensions between the US and China, leading to a sell-off in stocks.
Economy
- US economy grows at 2.1% annual rate in Q2: The US economy grew at a 2.1% annual rate in the second quarter, according to the Bureau of Economic Analysis. This is down from a 3.1% growth rate in the first quarter.
- Jobless claims rise to 221,000: The number of Americans filing for unemployment benefits rose to 221,000, up from 209,000 the previous week.
Tech
- Apple's iPhone sales disappoint: Apple's iPhone sales fell 12% in the third quarter, missing analyst expectations. The company's revenue also fell 5% to $53.8 billion.
- Amazon's Alexa faces new competition: Amazon's Alexa smart speaker faces new competition from Google and Microsoft, which are launching their own smart speaker devices.
Business
- WeWork files for IPO: WeWork, the shared workspace company, filed for an initial public offering (IPO) that could value the company at up to $47 billion.
- Boeing's 737 Max faces new delays: Boeing's 737 Max jet, which has been grounded since March, faces new delays due to a software issue.
International
- China's economy grows at slowest pace in 27 years: China's economy grew at its slowest pace in 27 years, with GDP expanding 6.2% in the second quarter.
- UK economy contracts in Q2: The UK economy contracted by 0.2% in the second quarter, according to the Office for National Statistics.
These are just some of the top stories from CNN Business News on August 28, 2019. If you're looking for more information or specific news articles, feel free to ask!