And welcome to power lunch. Im melissa lee. A winning month with a losing day. The major averages lower across the board here. We did hit record highs with the nasdaq and dow jones utility average before the markets went lower. Crude oil, meantime, hitting threemonth lows. Traders are worried the opec led cuts to reduce global inventories are being undermined by those outside of the deal. Financials, big hit here. Regional banks on pace for the third consecutive day of losses. Im michelle carusocabrera. Here is what else is happening this hour. New york times offering buyouts. The move aimed at cutting the number of editors in its newsroom. Contracts to buy previously owned homes are falling for a second straight month amid a supply squeeze. Jetblue launching its first of its kind selfboarding Program Using facial recognition software. More on that intriguing story ahead. Brian . Michelle, welcome back. Well, if you are just a casual market observer, you probably know the stock markets
Power but without a clear majority. Global news 24 hours a day. I am Alisa Parenti. This is bloomberg. Bloomberg technology is next. Emily i am emily chang and this is bloomberg technology. Coming up, tech stocks nosedive dragging the nasdaq to its lowest levels this year. We will map the sudden selloff and. Theresa mays gambit. To the Prime Ministers move gain a greater majority backfired and the potential impact on her brexit agenda. Potential miss on the upcoming data revolution. Why the latest iphone may not satisfy customers needs for speed. After seeing Massive Gains this year, big tech stocks came crashing back down posting the biggest losses in months. Shares of apple, microsoft, amazon, and facebook are some of the biggest decliners of the day. Mike regan joins us from new york. What exactly happened . As you mentioned, tech has been on a tear this year. Depending on how you look it, tech stocks on the s p 500 or nasdaq 100 either up more than 20 coming into today. And if you
The House Intelligence Committee is demanding copies, if they exist, of white house tapes of conversations between President Trump and james comey. It also wants notes and memos of his discussions with the president. The state Department Says the United States respects the decision of british voters in the general election and look forward to continuing to work with Prime Minister theresa may. Thursdays Election Results returned mays conservatives to power but without a clear majority. Global news 24 hours a day. I am Alisa Parenti. This is bloomberg. Bloomberg technology is next. Emily i am emily chang and this is bloomberg technology. Coming up, tech stocks nosedive dragging the nasdaq to its lowest levels this year. We will map the sudden selloff. Theresa mays gambit. How the Prime Ministers move to gain a greater majority backfired and the potential impact on her brexit agenda. Apples potential miss on the upcoming data revolution. Why the latest iphone may not satisfy customers ne
710ths green arrows for major in deksz. Ftse up. Germany, dax up. Gains in france after the French Election there one of the biggest majorities theyve seen in post war france. You can see crude oil markets up slightly still below 45 a barrel following developing story from london, a van plowed into a group of pedestrians outside a mosque injuring ten people it happened as worshippers were leaving evening prayers. Metropolitan police say the driver of the van was taken into custody and theyre treating the incident as potential act of terrorism. Almost one year since britain voted to leave European Union. Formal brexit talks begin today. David davis is meeting with eu chief negotiator in brussels that kicks off the process that must be completed by march, 2019 discussions come less than two weeks after Prime Minister theresa may and her conservative party lost the majority in parliament, adding to further uncertainty when it comes to these talks. And becky alluded to this in other politi
General Jeff Sessions senate seat. Global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. Im emma chandra. This is bloomberg. Bloomberg technology, is next. Emily im emily chang and this is bloomberg technology. Coming up, President Trump defiantly defends his criticized reactions to protest in charlottesville, virginia, and calls out ceos leaving Business Councils for grandstanding. Full coverage from trump tower. Plus, a bloomberg exclusive. Nba champion and ndp staff steph curry making a big play in tech. The Golden State Warriors on r a damaging lawsuit and embarrassing settlement were just some of the challenges for uber this week, as the pr nightmare continues at the worlds most valuable startup. First to the lead pair President Trump speaking from trump tower defenses decision to wait two days to condemn white supremacist amid violence in virginia, saying he needed to gather the facts. Since the deadly attack, several ceos have