A sell-off in major U.S. technology companies spread to Asia, causing Japan’s Nikkei 225 to drop 1.4% with Softbank falling 5% and Arm Holdings plummeting over 10%. Futures on the S&P 500 dipped after a 1.5% fall on Monday, led by Silicon Valley chip company Nvidia which saw a $600 billion market value loss. Concerns are rising over the dependence on tech stocks, with investors urged to diversify beyond the “Magnificent Seven” amid uncertainties like inflation and potential tariffs impacting economic growth.
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Resignation Push Deepens Worries About Effect on Government Services
In the first weeks of the Trump administration, over two million federal workers faced abrupt changes to job protections and telework policies, with an offer to resign by Feb. 6 in exchange for pay until late September. Concerns arose over potential brain drain and diminished government quality as experienced employees leave, despite the administration expecting 5 to 10 percent of the workforce to take the offer. Federal workers voiced skepticism over the legality and motives...
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