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Long Island Rail Road Strike Shuts Down Busiest U.S. Passenger Rail Service The New York TimesLIRR strike shuts largest railroad in nation as unions, MTA fail to reach deal | Live updates ABC7 New YorkLong Island Rail Road, America's largest commuter railroad, is on strike CNNOfficials outline contingency plans ahead of midnight LIRR strike deadline Spectrum News NY1
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Trump talks up trade deals with China, but experts see no big wins for U.S. CBS NewsWhat Trump Gained, and Didn't, From China The New York TimesTrump in China: US president concludes 'very successful' talks with Xi in Beijing BBCChip Stocks Slide After U.S.-China Summit Ends Without Major Tech Deals WSJTrump news at a glance: president's China trip was heavy on hype, li
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Global bonds battered as flaring inflation spooks investors Yahoo FinanceThe 30-year Treasury yield just broke to its highest level in almost 20 years Yahoo FinanceGlobal Bond Markets Plummet Over War Shock Bloomberg.com30-year Treasury yield tops 5.1%, highest in nearly a year CNBC
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Supreme Court Rejects Virginia Democrats' Effort to Reinstate New Voting Map The New York TimesSupreme Court is death knell for Virginia's Democratic-friendly congressional maps NPRUS Supreme Court tosses longshot appeal from Virginians to use new congressional map that would benefit Democrats CNNVa. governor concerned redistricting battle could make voters reluctant to cast ballot this fall WTOP
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Fed names Powell as chair pro tempore until Warsh is sworn in YahooTakeaways from Fed Chair Jerome Powell's tenure as he steps down ABC News - Breaking News, Latest News and VideosPowell, the most battle-tested Fed chair, finishes his term CNNHow Jerome Powell navigated pandemic, inflation and Trump AxiosBoard Names Jerome Powell Temporary Fed Chair. Two G
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Dow loses more than 500 points Friday as tech slumps and yields spike: Live updates CNBCStock Market Today: Dow Falls 400 Points Lower on Oil Price Fears — Live Updates WSJThe Global Bond Rout Catches Up With Wall Street's Risk Rally Bloomberg.comStock market today: Dow, S&P 500, Nasdaq sink as yields jump amid inflation jitters Yahoo Finance
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As Powell Steps Down, the Fed Confronts ‘Regime Change' The New York TimesTakeaways from Fed Chair Jerome Powell's tenure as he steps down ABC News - Breaking News, Latest News and VideosJerome Powell ends term as Federal Reserve chief clouded by Trump tumult The HillPowell's tenure as Fed chair marked by fight for independence while trying to tame inflation
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Trump waffles on Taiwan arms deal after Xi talks AxiosLive updates: Trump-Xi summit ends on cordial note but no breakthroughs announced yet CNNTrump told Xi ‘I don't talk about' whether U.S. would defend Taiwan from China CNBCTrump Discussed U.S. Arms Sales With Xi ‘In Great Detail' The New York TimesTaiwan casts long shadow over Trump's summit with Xi South China Morning Post
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Global Bond Selloff Worsens as Rising Oil Prices Spook Investors Bloomberg.com30-year Treasury yield tops 5.1%, highest in nearly a year CNBCDemand for longer-term U.S. debt gets weaker as one shock after another stokes fear that high inflation is here to stay FortuneThe 30-year Treasury yield just broke to its highest level in almost 20 years
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On Threads and other sites, liberal-minded Chinese accounts were mocking the proceedings and offering a rare window into opinions on Xi Jinping and his leadership style.
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Stocks stabilized Wednesday after Tuesday's hotter-than-expected inflation data sparked Wall Street's worst selloff in over two years.
Inflation remained in focus today with the early morning release of the producer price index (PPI) for August. Similar to yesterday's consumer price index (CPI), the PPI - which measures what suppliers are charging for goods and services - rose at a slower annual clip in August than it did in July. However, on a month-over-month basis, both PPI and core PPI, which excludes energy and food prices, were up from July's figures.
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"There is a divergence in headline and core inflation building, where headline is cooling and core is heating up," says Jamie Cox, managing partner at Harris Financial Group. "That's an odd phenomenon and likely influenced by the shift from goods to services post-pandemic. The Fed should proceed with caution and not hit the emergency brake on rate hikes."
While yesterday's selling was broad-based, today's action was more mixed. In terms of sector performance, real estate (-1.2%) and materials (-1.2%) were the biggest laggards, while energy ( 2.8%) outperformed as U.S. crude futures rose 1.3% to settle at $88.48 per barrel.
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As for the major indexes, the Nasdaq Composite ended up 0.7% at 11,719, while the S&P 500 Index ( 0.3% at 3,946) and the Dow Jones Industrial Average ( 0.1% at 31,135) also finished with mode
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