Asia stocks join Wall Street rally
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Wall Street tumbles to its worst day since April after Trump threatens more tariffs on China
NEW YORK (AP) — A monthslong calm on Wall Street shattered Friday, and U.S. stocks tumbled after President Donald Trump threatened to crank tariffs much higher on China. The S&P 500 sank 2.7% in its worst day since April. The Dow Jones Industrial Average dropped 878 points, or 1.9%, and the Nasdaq composite fell 3.6%.
There are three times more trades on Wall Street than just four years ago, the head of the stock exchange, Lynn Martin, told Fortune.
Goldman Sachs, JPMorgan, Morgan Stanley, Bank of America and Citi all posted strong earnings returns — signs a dealmaking wave may be here to stay.
Wall Street firm will “constrain headcount growth through” 2025 and carry out a “limited reduction in roles across the firm,” according to a memo.
Though Jensen praised Rigetti for its progress in the quantum computing arena following its second-quarter operating results, he noted that the company's quantum advantage -- the point where quantum computers solve practical problems faster than classical computers -- is still "four years" away.