Mostly Cloudy 54°
Tag:

S&P 500

Business
Dow Drops 1,000 Points: US Stock Market In Free Fall, Wiping Away Trillions In Capital Dow Drops 1,000 Points: US Stock Market In Free Fall, Wiping Away Trillions In Capital
Dow Drops 1,000 Points: US Stock Market In Free Fall, Wiping Away Trillions In Capital Investors hoping the major dip in the stock market last week was just a blip were greeted with even more losses on Monday, Aug. 5, as fears of a recession and global turmoil sent stocks tumbling. The Dow Jones Industrial Average fell 1,200 points at one point but closed 1,000 down. The S&P 500 dropped more than 3 percent and the Nasdaq fell 3.4 percent.  The massive sell-off began on Friday after a US jobs report showed that employer hiring in July had slowed more than analysts had predicted. Investors were already on edge over fears the US Federal Reserve had left interest ra…

SHARE

by Josh Lanier
Business
Charli D'Amelio, Age 17, Of Fairfield County Is Outearning Top CEOs By Millions Charli D'Amelio, Age 17, Of Fairfield County Is Outearning Top CEOs By Millions
Charli D'Amelio, Age 17, Of Fairfield County Is Outearning Top CEOs By Millions A teen social media star from Connecticut is outearning some of the most successful CEOs in the US by millions of dollars, according to new reports by Forbes and the Wall Street Journal. With 133 million TikToker followers, 17-year-old Fairfield County resident Charli D'Amelio, of Norwalk, who started posting to TikTok in 2019 -- has the video-sharing app's largest following, Forbes says. Last year, she brought in $17.5 million. The median pay for chief executives of S&P 500 companies in 2020 was $13.4 million, the WSJ reports. Darren Woods was the highest-earning CEO of 2020, brin…

SHARE

by Cecilia Levine
News
Ex-Wall Street Trader From Long Island Admits To Running $19M Ponzi Scheme Ex-Wall Street Trader From Long Island Admits To Running $19M Ponzi Scheme
Ex-Wall Street Trader From Long Island Admits To Running $19M Ponzi Scheme A former Wall Street trader from Long Island admitted to running a years-long near $20 million Ponzi scheme Manhasset resident Paul Rinfret, 70, pleaded guilty to securities fraud and wire fraud charges in Manhattan federal court for the scheme to defraud investors by selling limited partnership interests in an entity through which he purported to trade in futures contracts relating to the S&P 500 utilizing a bespoke algorithm he had developed. According to United States Attorney for the Southern District of New York Geoffrey Berman, Rinfret boasted of “extremely high returns in his tra…

SHARE

by Zak Failla
News
Trader From Manhasset Who Boasted Of Huge Investment Returns Charged In $20M Ponzi Scheme Trader From Manhasset Who Boasted Of Huge Investment Returns Charged In $20M Ponzi Scheme
Trader From Manhasset Who Boasted Of Huge Investment Returns Charged In $20M Ponzi Scheme A former Wall Street trader from Long Island allegedly ran a years-long Ponzi scheme to the tune of nearly $20 million. Manhasset resident Paul Rinfret, 70, has been charged with securities fraud and wire fraud charges in Manhattan federal court for the alleged scheme to defraud investors by selling limited partnership interests in an entity through which he purported to trade in futures contracts relating to the S&P 500 utilizing a bespoke algorithm he had developed. According to United States Attorney for the Southern District of New York Geoffrey Berman, Rinfret alleged that he toute…

SHARE

by Zak Failla