The MSCI EM index, a key indicator of emerging markets equities, fell over 10% since reaching a 20-month high in October, entering correction territory amid uncertainty over US trade policies and concerns about Chinese economic growth. Donald Trump’s victory in the US presidential election and fears of his proposed tariffs led to pressure on emerging markets stocks, while Chinese equities, the largest single country weighting in the index, suffered due to both potential US tariffs and disappointment over Beijing’s economic stimulus efforts. The index closed at a four-month low of 1,066.47, reflecting the culmination of these factors impacting emerging markets equities.
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Officials Are Fired at Traffic Safety Agency Investigating Musk’s Company
The National Highway Traffic Safety Administration, responsible for investigating the role of self-driving technology in Tesla vehicles in a pedestrian's death, laid off 4% of its employees, but remains larger than at the start of the Biden administration. Investigations into Tesla's autonomous driving software, which uses cameras, are ongoing due to accidents possibly caused by poor visibility. Tesla CEO Elon Musk, leading a government efficiency team, has emphasized the importance of self-driving technology for Tesla's...
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