Cnn business news 8 june 2019
Here are the top stories from CNN Business News on June 8, 2019:
Market News
- Dow Jones Industrial Average falls 617 points: The Dow Jones Industrial Average plummeted 617 points, or 2.1%, to close at 25,477.50, its biggest one-day decline since January.
- S&P 500 falls 2.5%: The S&P 500 index fell 2.5% to 2,853.48, its biggest one-day decline since December.
- Nasdaq Composite falls 3.1%: The Nasdaq Composite fell 3.1% to 7,726.04, its biggest one-day decline since October.
Economy
- US economy grows at 2.1% annual rate: The US economy grew at a 2.1% annual rate in the first quarter, according to the Bureau of Economic Analysis.
- US-China trade talks to resume: The US and China will resume trade talks next week, with the goal of reaching a deal to end the trade war.
Tech
- Facebook's Libra cryptocurrency faces scrutiny: Facebook's Libra cryptocurrency is facing scrutiny from lawmakers and regulators, who are concerned about its potential impact on the financial system.
- Apple's stock falls after earnings miss: Apple's stock fell 4.2% after the company reported earnings that missed expectations.
Business
- Boeing's 737 Max faces new setback: Boeing's 737 Max jet faces a new setback after the Federal Aviation Administration (FAA) said it would not allow the plane to fly until it completes a software update.
- Walmart to raise minimum wage for US employees: Walmart announced that it will raise the minimum wage for its US employees to $11 per hour, effective July 1.
International
- UK's May to resign as Prime Minister: UK Prime Minister Theresa May announced that she will resign as Prime Minister on June 7, effective July 24.
- EU leaders agree on Brexit delay: EU leaders agreed to delay Brexit until October 31, giving the UK more time to negotiate a deal.
These are just some of the top stories from CNN Business News on June 8, 2019. Let me know if you'd like me to provide more information or if you have any specific questions!