In a rough day for tech stocks, fintech companies like Robinhood, Strategy, and Coinbase saw significant declines, largely due to the drop in bitcoin. Online lenders and payment companies, such as Affirm, SoFi, and Shopify, also fell as consumer confidence weakened, with the Conference Board reporting a sharp decline in confidence index. The sell-off in fintech follows a strong rally in the fourth quarter, driven by Fed rate cut expectations and hopes for favorable regulatory changes under the Trump administration, according to JPMorgan Chase analysts.
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Rubio Seeks Cease-Fire in Ukraine After Reaching His Own With Musk
Secretary of State Marco Rubio engaged in personal diplomacy before high-stakes negotiations in Saudi Arabia and Canada, including talks with Elon Musk and President Trump. Despite past doubts about his standing, Rubio's interactions with Musk and Trump indicated a possible strengthening of his position within the administration. Rubio's defense of U.S. interests against Russia and support for Ukraine, as well as his collaboration with Musk on international issues, showcased his evolving role as a key...
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