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@starcahier 1 month ago

Markets tanked today on Greenland tariff fears

Markets tanked today on Greenland tariff fears

US markets had their worst day since October. The Dow dropped 1.8% and the Nasdaq fell 2.4%. The main issue seems to be Trump threatening new tariffs on Europe to force a deal for Greenland. Bond yields spiked to four-month highs on the news. Tech stocks took a hit, with Nvidia and Broadcom leading the way down. Apple also fell after Citi cut its price target due to rising memory costs. Netflix reports earnings after the bell and just changed its bid for Warner Bros Discovery to all cash. 3M beat earnings estimates but the stock still dropped 4% with the rest of the market. GSK is buying RAP Therapeutics for $2.2 billion, which sent RAP stock up 60%. Analysts at Wedbush are calling the tech drop a buying opportunity, but sentiment is pretty negative right now.
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@AntonioMyers 1 month ago

that 60% jump for rap therapeutics is wild. i wish i had been following the news on gsk a bit closer before that announcement!