Even giant Goldman Sachs has been adversely affected by the stock market chaos, as its 2015 distress trading desk lost about $50 million to $60 million.
Investors
Foxconn Technology denies termination of $1B investment in Indonesia
Foxconn, the electronics company headquartered in Taiwan, has pulled out $1B investment to Indonesia, rumors have it. But according to a report, Foxconn claims they haven't cancelled it yet.
Minecraft creator expressed existential meltdown on Twitter, feeling unmotivated, isolated
In just 135 characters, Minecraft creator Markuss Persson has expressed his feelings of existential meltdown on Twitter Saturday:
Alibaba Pictures lost $24M in first semester amid twists and turns
Alibaba Pictures Group announced Friday that it lost 151.8 million Yuan ($24 million) in the first half of 2015. The loss is due to the transformation the company is undergoing. According to the company, most of its projects are still under the investment stage, and its profit is not yet included in the revenue report of the period.
The US stocks turn attractive on lower PE ratios
The US stocks turn attractive on lower PE ratios. The latest market crash might have eroded $2.1 trillion value in the market capitalization in the US stock markets, but equities are no more overpriced as price-to-earnings (PE) ratios turn attractive. According to ConvergEx, after the recent 10 percent drop in the US markets, no one can say that American stocks are expensive.
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As panic ensued when the Dow crashed to 1,000 points Monday right after the opening bell, some investors complained on Twitter that they weren't able to log into their online stock accounts.
Another wild day of trading gripped Wall Street Tuesday. Many were hoping stocks would recoup losses from Monday's massive selloff, as all three major equity indexes surged during early sessions. But, as trading drew to a close, their gains vanished.
Selling on Wall Street was so drastic Monday that the stocks and exchange-traded funds went through unprecedented emergency halts 1,200 times.
Since European Union's economy is finally recovering, a noted economist proposes three significant areas that U.K. officials should focus on to sustain its growth: medium-sized businesses, overseas trade and linking of geographic powerhouses to maintain the economic model.
In an unprecedented move, the stock price of world's most diversified business conglomerate fell 21 percent on the Wall Street. The shares of General Electric (GE) suffered biggest loss ever since the Black Monday in 1987 eroding the company's value by a whopping $53 billion.
Apple's stock rose sharply Monday after chief executive Tim Cook sent a rare e-mail to a news commentator, saying sales in China had been strong.
Apple shares went down seven percent Tuesday, and down again six percent Friday amid the declining U.S. stocks.
It's hard to imagine tech giants getting worse than ever. But this dreadful scenario recently happened to a popular social media platform, Twitter, as its stock price fell lower than it was when the company first went public.
The recent devaluation of Chinese currency Yuan has already started creating tremors in the global markets and more precisely in the US economy as it's triggering an imbalance in international trade.
