In the Unlock the Editor’s Digest for free, FT Editor Roula Khalaf highlights the European Central Bank’s decision to cut its interest rate to 2.75% due to stagnant Eurozone economy, with ECB President Christine Lagarde warning of continued weakness and downside risks. The ECB plans to cut rates further until reaching 1.5%, citing uncertainty and data-driven decisions, despite recent increases in longer-term government bond yields. Lagarde remains optimistic about a gradual recovery, contrasting with the US economy’s stronger growth and investor expectations for more ECB rate cuts.
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Why AMD Stock Plummeted Today
Advanced Micro Devices (AMD -7.42%) experienced a significant stock price decline of 7.4% amid broader market downturns, hitting a low of 10.5% during the session. The drop was influenced by AMD's announcement of an effective ban on sales of its MI308X processor to China, leading to an anticipated $800 million write-down, alongside rising costs due to TSMC's planned 30% price increase on 4nm chips. Additionally, escalating U.S.-China trade tensions and cautious remarks from Federal Reserve...
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