The Daily Money: Recovering from Wall Street's manic Monday
Good morning! It’s Daniel de Visé with your Daily Money.
What a difference a day makes. U.S. stocks rose at the opening bell Tuesday, and all three major indexes were up at least 1% as of late morning.
This comes after one of the bleakest days Wall Street has seen in a while. Global markets plunged Monday, with Japan’s Nikkei 225 index posting the worst one-day return in its history. The losses spread from Asia to Europe and thence to the United States, where the Dow, S&P 500 and Nasdaq sank like stones.
Market reporters trotted out such terms as “rout,” “correction” and even “panic,” descriptors that invoke memories of the market’s darkest days, such as the brief COVID-19 crash of 2020 and the deeper, longer dive of the Great Recession of 2008.
Here's the latest on the stock market.
Google, antitrust and your next web search
In a landmark legal ruling, a federal judge said Google illegally monopolized online search and advertising by paying companies like Apple and Samsung billions of dollars a year to install Google as the default search engine on smartphones and web browsers.
By monopolizing search queries, Jessica Guynn reports, Google abused its dominance in the search market, throttling competition and harming consumers. Google owes much of its more than $300 billion in annual revenue to search ads.
The ruling could fundamentally reshape how Google does business. It also could change how we use the internet and search for information.
📰 More stories you shouldn't miss 📰
- A recap of Monday's market madness
- Stock market sinking? Here's what to do
- Who is this Warren Buffett guy?
- What triggered Monday's stock selloff?
- Mortgage rates are trending down
📰 A great read 📰
Finally, here's a popular story from earlier this year that you may have missed. Read it! Share it!
As one of the few Black women in the corporate offices where she worked, Regina Lawless took pains to blend in. She donned conservative blazers and low-wedge heels and tucked her hair in a wig instead of wearing natural hairstyles or braids.
Echoing the speech patterns of her white colleagues, she avoided African American Vernacular English, spoke in a quieter voice and buttoned down her mannerisms. Even in casual moments around the watercooler, she constantly monitored how she carried herself and chatted about the latest episode of “Game of Thrones,” not “Insecure.”
For many employees of color, this is as routine or familiar as breathing, Jessica Guynn reports. Lawless was “code-switching."
About The Daily Money
Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.
Daniel de Visé covers personal finance for USA Today.