Elon Musk's SpaceX is mulling over an offering of mostly secondary shares which will spur the valuation of the company from the $125 billion fetched earlier this year to about $150 billion, according to sources quoted by Reuters.&nbsp;

As per Reuters, after discussions with investors SpaceX will offer the new shares at about $85 apiece. The plan will fetch SpaceX a 20 per cent&nbsp;increase in valuation.&nbsp;With the issuance of these new shares, the offering is expected to raise one billion dollars for rocket and satellite company SpaceX.&nbsp;&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/world/elon-musk-fires-twitter-engineers-who-questioned-him-publicly-534252">Elon Musk fires Twitter engineer who questioned him publicly</a>

Discussions are undergoing with potential investors. The $85 share price is up from a split-adjusted $70 per share fetched earlier this year, sources said.

The offering would be aimed at helping employees and shareholders to take advantage as they will be able to sell their shares in the secondary market without the company itself going public.

Elon Musk's SpaceX routinely offers such liquidity programmes to its employees.&nbsp;However, Reuters sources clarified that any such share sale plan requires SpaceX’s approval and can change.&nbsp;

Before Reuters' sources, the SpaceX discussions to offer new shares was first reported by Bloomberg News on Tuesday. Hours after the report Musk tweeted the report was false. However, he refrained from delving into the details.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/videos/twitter-ceo-elon-musk-delays-blue-tick-relaunch-till-november-29-534615">Twitter CEO Elon Musk delays blue tick relaunch till November 29</a>

In another key development, Musk has said he plans to provide similar shares and liquidity programmes for Twitter. Musk recently completed the acquisition of microblogging site Twitter in a $44 billion deal.&nbsp;

Investors are also increasingly&nbsp;showing their interest in SpaceX as the California-based firm has achieved much in the last year. More recently, on November 1, SpaceX launched the world's most powerful active rocket, Falcon Heavy, into a geosynchronous Earth orbit at the Kennedy Space Center in Florida, US.&nbsp;

WATCH |&nbsp;<a href="https://www.wionews.com/videos/final-day-of-g20-meet-indias-prime-minister-narendra-modi-addresses-summit-534685">Final day of G20 meet: India's Prime Minister Narendra Modi addresses summit</a>

SpaceX is also aiming to launch its giant Starship rocket system into orbit for the first time somewhere in early December. SpaceX's internet satellite Starlink is also emerging as a major revenue generator. Last month, it had rolled out high-speed internet on commercial airlines.&nbsp;

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Elon Musk's SpaceX is mulling over an offering of mostly secondary shares which will spur the valuation of the company from the $125 billion fetched earlier this year to about $150 billion, according to sources quoted by Reuters.

Elon Musk's SpaceX is mulling over an offering of mostly secondary shares which will spur the valuation of the company from the $125 billion fetched earlier this year to about $150 billion, according to sources quoted by Reuters. As per Reuters, after discussions with investors SpaceX will offer the new shares at about $85 apiece. The plan will fetch SpaceX a 20 per cent increase in valuation. With the issuance of these new shares, the offering is expected to raise one billion dollars for rocket and satellite company SpaceX. ALSO READ | Elon Musk fires Twitter engineer who questioned him publicly Discussions are undergoing with potential investors. The $85 share price is up from a split-adjusted $70 per share fetched earlier this year, sources said. The offering would be aimed at helping employees and shareholders to take advantage as they will be able to sell their shares in the secondary market without the company itself going public. Elon Musk's SpaceX routinely offers such liquidity programmes to its employees. However, Reuters sources clarified that any such share sale plan requires SpaceX’s approval and can change. Before Reuters' sources, the SpaceX discussions to offer new shares was first reported by Bloomberg News on Tuesday. Hours after the report Musk tweeted the report was false. However, he refrained from delving into the details. ALSO READ | Twitter CEO Elon Musk delays blue tick relaunch till November 29 In another key development, Musk has said he plans to provide similar shares and liquidity programmes for Twitter. Musk recently completed the acquisition of microblogging site Twitter in a $44 billion deal. Investors are also increasingly showing their interest in SpaceX as the California-based firm has achieved much in the last year. More recently, on November 1, SpaceX launched the world's most powerful active rocket, Falcon Heavy, into a geosynchronous Earth orbit at the Kennedy Space Center in Florida, US. WATCH | Final day of G20 meet: India's Prime Minister Narendra Modi addresses summit SpaceX is also aiming to launch its giant Starship rocket system into orbit for the first time somewhere in early December. SpaceX's internet satellite Starlink is also emerging as a major revenue generator. Last month, it had rolled out high-speed internet on commercial airlines. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Elon Musk's SpaceX plans to raise fresh funds, take valuation up to $150 billion

Former US president Donald Trump may not yet have officially declared that he will run for presidential elections in 2024, but hints from his camps point to such a possibility. In an interesting development, share prices of companies linked to Trump have risen.

Shares of Digital World Acquisition Corp (DWAC), the blank-check company looking to take Donald Trump's social media venture public, rallied on Monday.

Watch |&nbsp;US Midterm Polls: Former President Donald Trump rallies for Florida governor

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The share price saw a massive jump of more than 24 per cent. Each share now costs USD 21.55. This has brought year-to-date losses to 58 per cent.

"The prospect of Donald Trump seizing the political spotlight again appears to have put a rocket under the share price of DWAC amid expectation there could be a sharp increase in users on the former President's highly controversial social media platform," said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown.

The rally in DWAC, which was also the fifth most trending ticker on retail investor-focused social media forum Stocktwits, helped lift shares of other Trump-linked companies.

DWAC on Thursday extended the deadline to Nov. 22. for investors' approval to complete its merger deal with Trump Media and Technology Group.

Software developer Phunware Inc, which was hired by Trump's 2020 presidential reelection campaign to build a phone app, jumped 18.3%.

Rumble Inc, a Canadian video platform popular with conservatives, however, slipped 3.5%. Trump's social media venture Truth Social announced in August it would join Rumble's new ad platform as its first publisher in August.

Also Read | <a href="https://www.wionews.com/world/twitter-boss-elon-musk-asks-us-voters-to-vote-for-republican-congress-531962">US Midterms: Twitter boss Elon Musk asks Americans to vote for 'Republican Congress'</a>

Artificial intelligence solutions company Remark Holdings, which has been linked to the former president on social media sites, gained 8.6%. Reuters could not independently verify the link between Trump and Remark.

(With inputs from agencies)

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Former US president Donald Trump may not yet have officially declared that he will run for presidential elections in 2024, but hints from his camps point to such a possibility.

Former US president Donald Trump may not yet have officially declared that he will run for presidential elections in 2024, but hints from his camps point to such a possibility. In an interesting development, share prices of companies linked to Trump have risen. Shares of Digital World Acquisition Corp (DWAC), the blank-check company looking to take Donald Trump's social media venture public, rallied on Monday. Watch | US Midterm Polls: Former President Donald Trump rallies for Florida governor Watch | US Midterm Polls: Former President Donald Trump rallies for Florida governor × The share price saw a massive jump of more than 24 per cent. Each share now costs USD 21.55. This has brought year-to-date losses to 58 per cent. "The prospect of Donald Trump seizing the political spotlight again appears to have put a rocket under the share price of DWAC amid expectation there could be a sharp increase in users on the former President's highly controversial social media platform," said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown. The rally in DWAC, which was also the fifth most trending ticker on retail investor-focused social media forum Stocktwits, helped lift shares of other Trump-linked companies. DWAC on Thursday extended the deadline to Nov. 22. for investors' approval to complete its merger deal with Trump Media and Technology Group. Software developer Phunware Inc, which was hired by Trump's 2020 presidential reelection campaign to build a phone app, jumped 18.3%. Rumble Inc, a Canadian video platform popular with conservatives, however, slipped 3.5%. Trump's social media venture Truth Social announced in August it would join Rumble's new ad platform as its first publisher in August. Also Read | US Midterms: Twitter boss Elon Musk asks Americans to vote for 'Republican Congress' Artificial intelligence solutions company Remark Holdings, which has been linked to the former president on social media sites, gained 8.6%. Reuters could not independently verify the link between Trump and Remark. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

As Trump hints presidential re-run, shares of companies linked to him soar

Elon Musk has completed his acquisition of Twitter. He started his reign with a round of firings. What's next for the social media platform? Priyanka Sharma brings you the details

Explained: The future of Twitter under Elon Musk

On the 14th April 2022, Elon Musk first offered to buy Twitter and today he has completed the acquisition of the microblogging site but the journey between has not been less than a rollercoaster ride. Musk's ownership began with firings of top executives.

Elon Musk acquires Twitter: Ownership begins with firings; Top executives fired immediately

Elon Musk told bankers he would acquire Twitter by the October 28 deadline. This comes as an internal Twitter report says that the platform is losing its heaviest users. Priyanka Sharma brings you the details

WION Fineprint | Elon Musk to acquire troubled Twitter by Friday

Netflix Inc. reversed customer losses that had been damaging its stock this year and forecast stronger growth in the future. More than doubling what Wall Street anticipated, Netflix added 2.4 million new customers from July through September.

The positive news comes as a reassurance for investors as the streaming giant gets ready to launch a new service with advertising,

In after-hours trading, <a href="https://www.wionews.com/entertainment/bronte-biopic-emily-delves-into-imagined-authors-darkness-525961">Netflix</a> shares increased by 14 per cent, helped in part by prediction that it would gain 4.5 million new subscribers in the fourth quarter. Before the quarterly announcement, the company's stock, which was a favourite among <a href="https://www.wionews.com/world/global-economy-live-updates-japanese-yen-hits-a-fresh-32-year-low-against-dollar-526286">investors</a> during its years of tremendous expansion, had decreased by about 60% this year.

"Thank God we're done with shrinking quarters," said Co-CEO Reed Hastings, adding the company needs to continue gathering momentum by focusing on content, marketing and a lower-priced plan with advertising.

Also read |&nbsp;<a href="https://www.wionews.com/entertainment/actor-anna-may-wong-becomes-the-first-asian-american-to-be-featured-on-us-currency-526591">Actor Anna May Wong becomes the first Asian American to be featured on US currency</a>

The fourth season of the sci-fi sensation "Stranger Things" and the serial killer series "Dahmer - Monster: The Jeffrey Dahmer Story" were both published by <a href="https://www.wionews.com/entertainment/netflix-bites-the-bullet-announces-ad-supported-streaming-plan-525242">Netflix</a> during the quarter. The latter became one of Netflix's all-time most popular programmes.

After a sharp decrease in the first half of the year, when the company's subscriber base fell by 1.2 million as a result of a shaky global economy and increasing competition for online content&nbsp;consumers,&nbsp;the streaming platform&nbsp;is attempting to restart membership growth. There are currently 223.1 million Netflix subscribers worldwide.

(With inputs from agencies)

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Netflix Inc. reversed customer losses that had been damaging its stock this year and forecast stronger growth in the future. More than doubling what Wall Street anticipated, Netflix added 2.

Netflix Inc. reversed customer losses that had been damaging its stock this year and forecast stronger growth in the future. More than doubling what Wall Street anticipated, Netflix added 2.4 million new customers from July through September. The positive news comes as a reassurance for investors as the streaming giant gets ready to launch a new service with advertising, In after-hours trading, Netflix shares increased by 14 per cent, helped in part by prediction that it would gain 4.5 million new subscribers in the fourth quarter. Before the quarterly announcement, the company's stock, which was a favourite among investors during its years of tremendous expansion, had decreased by about 60% this year. "Thank God we're done with shrinking quarters," said Co-CEO Reed Hastings, adding the company needs to continue gathering momentum by focusing on content, marketing and a lower-priced plan with advertising. Also read | Actor Anna May Wong becomes the first Asian American to be featured on US currency The fourth season of the sci-fi sensation "Stranger Things" and the serial killer series "Dahmer - Monster: The Jeffrey Dahmer Story" were both published by Netflix during the quarter. The latter became one of Netflix's all-time most popular programmes. After a sharp decrease in the first half of the year, when the company's subscriber base fell by 1.2 million as a result of a shaky global economy and increasing competition for online content consumers, the streaming platform is attempting to restart membership growth. There are currently 223.1 million Netflix subscribers worldwide. (With inputs from agencies) WATCH WION LIVE HERE:

Netflix rebounds from subscriber losses; shares surge 14%

Credit Suisse Group AG's attempts to reassure investors about its financial stability backfired as the credit risk indicator for the global bank surged to a record high while its shares hit a new low.&nbsp; 
 
There's talk about the bank going under like Lehman Brothers in the US, which was one of the events that precipitated the global financial crisis of 2007-08, but the Swiss bank's CEO put up a brave front.

According to ICE Data Services, the price of five-year default swaps of the bank is currently at an all-time high of roughly 293 basis points, up from about 55 points since the beginning of this year.

On Monday, the bank's shares fell by a record 12 per cent in Zurich, and this year alone, they have lost over 60 per cent, the greatest yearly decline in Suisse's record. Bloomberg reported that Ulrich Koerner, CEO, praised the bank's capital and liquidity levels, but admitted going through a "critical period."

<a href="https://www.wionews.com/world/credit-suisse-says-worlds-average-adult-will-be-worth-100000-by-2024-518721">Also read |Credit Suisse says world's average adult will be worth $100,000 by 2024</a>

Furthermore, he informed that the company will release a new strategic plan on October 27. There is currently a 23 per cent&nbsp;chance that the bank will default on its obligations in the next five years. Some clients had used the increase in the CDS this year to inquire about haggling rates and products.&nbsp;

Bloomberg reported that the institution is currently drafting proposals that could result in the reduction of thousands of jobs for several years. Even after selling some assets, analysts at KBW expect that the company could raise $4 billion in capital to cover any unforeseen restructuring initiatives and other costs.

<a href="https://www.wionews.com/world/number-of-global-ultra-high-net-worth-individuals-hits-record-high-in-2022-518310">Also read |&nbsp;Number of global ultra high net worth individuals hits record high in 2022</a>

Given that Credit Suisse's market value has decreased by approximately 9.5 billion in Swiss francs, any share for this would dilute the existing shareholders. In 2021, the market value was around $30 billion francs.&nbsp;

The firm's 13.5 per cent CET1 capital ratio as of June 30 fell in the centre of the anticipated range of 13 to 14 per cent. There are no current issues at Credit Suisse compared to its $7.2 million at Deutsche Bank, and the Swiss bank's core capital ratio of 13.5 per cent is higher than 10.5 per cent higher than six years ago.&nbsp;

The bank is currently looking for deals to sell its trading division for specialised products and is examining the sale of its wealth in Latin America and Brazil.

(With inputs from agencies)

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Credit Suisse Group AG's attempts to reassure investors about its financial stability backfired as the credit risk indicator for the global bank surged to a record high while its shares hit a new low.

Credit Suisse Group AG's attempts to reassure investors about its financial stability backfired as the credit risk indicator for the global bank surged to a record high while its shares hit a new low. There's talk about the bank going under like Lehman Brothers in the US, which was one of the events that precipitated the global financial crisis of 2007-08, but the Swiss bank's CEO put up a brave front. According to ICE Data Services, the price of five-year default swaps of the bank is currently at an all-time high of roughly 293 basis points, up from about 55 points since the beginning of this year. On Monday, the bank's shares fell by a record 12 per cent in Zurich, and this year alone, they have lost over 60 per cent, the greatest yearly decline in Suisse's record. Bloomberg reported that Ulrich Koerner, CEO, praised the bank's capital and liquidity levels, but admitted going through a "critical period." Also read |Credit Suisse says world's average adult will be worth $100,000 by 2024 Furthermore, he informed that the company will release a new strategic plan on October 27. There is currently a 23 per cent chance that the bank will default on its obligations in the next five years. Some clients had used the increase in the CDS this year to inquire about haggling rates and products. Bloomberg reported that the institution is currently drafting proposals that could result in the reduction of thousands of jobs for several years. Even after selling some assets, analysts at KBW expect that the company could raise $4 billion in capital to cover any unforeseen restructuring initiatives and other costs. Also read | Number of global ultra high net worth individuals hits record high in 2022 Given that Credit Suisse's market value has decreased by approximately 9.5 billion in Swiss francs, any share for this would dilute the existing shareholders. In 2021, the market value was around $30 billion francs. The firm's 13.5 per cent CET1 capital ratio as of June 30 fell in the centre of the anticipated range of 13 to 14 per cent. There are no current issues at Credit Suisse compared to its $7.2 million at Deutsche Bank, and the Swiss bank's core capital ratio of 13.5 per cent is higher than 10.5 per cent higher than six years ago. The bank is currently looking for deals to sell its trading division for specialised products and is examining the sale of its wealth in Latin America and Brazil. (With inputs from agencies) WATCH WION LIVE HERE

Another Lehman Brothers? Credit Suisse shares down by record 12%, CEO puts up brave front

On Monday, the dollar rose and US and European markets plummeted as concerns grew that efforts by central banks to rein in increasing consumer prices through inflation-busting interest rate hikes would undermine the world economy and trigger a recession.&nbsp;

The benchmark European STOXX index closed down 1%, and each of the three major Wall Street indices fell roughly 2% as a result of Russia's Gazprom announcing that it would stop supplying natural gas to Europe for three days at the end of the month.

As traders feared demand would be harmed by a slowdown, oil initially dropped 4%. Following hawkish indications from European Central Bank policymakers, the most recent disruption to the continent's energy supply heightened worries about the future of the continent's economy. Russian natural gas exports to Europe have decreased by over 75% since last year.&nbsp;

As the market prepared for a speech on Friday from Federal Reserve Chair Jerome Powell, who will address the Fed's goal to keep inflation low in Jackson Hole, Wyoming, the inversion of the yield curve on U.S. Treasuries widened—a recession indication.

Also Read:<a href="https://www.wionews.com/photos/in-pics-nasas-gigantic-sls-moon-rocket-a-practice-for-future-mars-mission-507987">&nbsp;In pics: NASA's gigantic SLS moon rocket, a 'practice' for future Mars mission</a>

The Canadian dollar was pushed over 1.30 versus the dollar as a result of the strengthening of the dollar, which also caused the euro to go below parity at 0.9932. Gold prices dropped to their lowest point in over four weeks as a result of the dollar's surge.&nbsp;

Instead of the larger likelihood of a modest 50 basis point boost, which was the market's estimate heading into the weekend, Fed funds futures are now pricing in a 54.5% chance of a 75 basis point hike by the Fed in September.&nbsp;

China stands out as an exception to the tightening trend, as the central bank cut certain key lending rates on Monday by 5 to 15 basis points in an effort to stabilise a faltering economy and a pressured property market.

(with inputs from agencies) 
&nbsp;

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On Monday, the dollar rose and US and European markets plummeted as concerns grew that efforts by central banks to rein in increasing consumer prices through inflation-busting interest rate hikes would undermine the world economy and trigger a recession.

On Monday, the dollar rose and US and European markets plummeted as concerns grew that efforts by central banks to rein in increasing consumer prices through inflation-busting interest rate hikes would undermine the world economy and trigger a recession. The benchmark European STOXX index closed down 1%, and each of the three major Wall Street indices fell roughly 2% as a result of Russia's Gazprom announcing that it would stop supplying natural gas to Europe for three days at the end of the month. As traders feared demand would be harmed by a slowdown, oil initially dropped 4%. Following hawkish indications from European Central Bank policymakers, the most recent disruption to the continent's energy supply heightened worries about the future of the continent's economy. Russian natural gas exports to Europe have decreased by over 75% since last year. As the market prepared for a speech on Friday from Federal Reserve Chair Jerome Powell, who will address the Fed's goal to keep inflation low in Jackson Hole, Wyoming, the inversion of the yield curve on U.S. Treasuries widened—a recession indication. Also Read: In pics: NASA's gigantic SLS moon rocket, a 'practice' for future Mars mission The Canadian dollar was pushed over 1.30 versus the dollar as a result of the strengthening of the dollar, which also caused the euro to go below parity at 0.9932. Gold prices dropped to their lowest point in over four weeks as a result of the dollar's surge. Instead of the larger likelihood of a modest 50 basis point boost, which was the market's estimate heading into the weekend, Fed funds futures are now pricing in a 54.5% chance of a 75 basis point hike by the Fed in September. China stands out as an exception to the tightening trend, as the central bank cut certain key lending rates on Monday by 5 to 15 basis points in an effort to stabilise a faltering economy and a pressured property market. (with inputs from agencies)

Shares tumble, dollar advances as inflation-busting interest rate hikes trigger recession

There is no end in sight for the Musk-Twitter saga as Tesla CEO accuses Twitter of fraud. Twitter has dragged Musk to court to force him to buy the company.

No end to Musk-Twitter saga as Tesla CEO accuses Twitter of fraud

Netflix lost 970,000 subscribers in the most recent quarter after forecasting a dip of 2 million. The streaming platform is facing bad times, business-wise. Is it because people are not watching it or some other reasons to be blamed?

Tech in Trend: Why is Netflix losing subscribers?

Netflix has averted its own worst case scenario of subscriber losses. After losing nearly 1 billion paid subscribers and firing over 300 employees, Netflix has been trying hard to grow.

Netflix shares rise after 67% fall, plans to launch cheaper plans for growth

Tesla CEO Elon Musk has terminated the $44 billion buyout deal. Twitter has now vowed legal action against Musk. Meanwhile, Twitter shares fell 6% since the announcement.

Twitter vows legal action after Elon Musk terminates $44 billion buyout deal

Billionaire Elon Musk's massive $44 billion deal to buy microblogging platform Twitter is in 'Jeopardy' according to a Washington Post report. Elon Musk has threatened to walk away from the deal if the company can't show that less than 5% of its daily active users are automated spam accounts.

Elon Musk’s Twitter deal in danger? Twitter speaks on spam accounts

The United Arab Emirates has offered to buy shares in Pakistan's publicly listed companies with certain terms and conditions; this comes after Pakistan had requested for a multi-billion dollar loan from the UAE.

UAE offers to acquire 10-12% shares of cash-starved Pakistani firms

Asian shares are trading in red as global growth fears drag markets down. Indian markets are trading with losses. Blue chips in China fall by 1%.

Asian shares tumble: Global growth fears drag markets down

The stock markets might be running dry, but it's still raining IPOs in India. One of the most-awaited IPOs, Life Insurance Corporation (LIC) has finally made its debut. But looks like the investors may have to wait a bit long for return. Know why.

LIC debuts at a discount but how did other Indian firms perform at stock market listing?

The strong headwinds in the global economy have wiped off a whopping $7 trillion in market value from blue chip stocks in the S&amp;P 500. Since the end of December last year, the index has dropped approximately 18 per cent.&nbsp; Following a 0.1 per cent fall on Thursday (May 12), the S&amp;P 500 is now just beyond bear market levels, that is 20 per cent drop from a recent closing high.&nbsp;

The Dow, which fell about 104 points, or 0.3 per cent, on Thursday (May 12), is down more than 13 per cent this year.

Also read |<a href="https://www.wionews.com/world/now-sec-probes-delayed-disclosure-of-elon-musks-initial-stake-in-twitter-says-report-478308">&nbsp;Now, SEC probes delayed disclosure of Elon Musk's initial stake in Twitter, says report</a>

Technology stocks have been hit very bad. The Nasdaq managed a small rise on Thursday, but it is still down 27 per cent this year, placing it in market territory, according to US media reports. The tech sector is responsible for about $3 trillion of the S&amp;P 500’s market cap decline.&nbsp;

As per the analysis from Bespoke Investment Group, a research firm, The Nasdaq has dropped more than 20 per cent in the last 30 trading days. According to the firm, a dip of that magnitude has only happened 11 times earlier, and nine of those declines were “related with recession.”

Watch |&nbsp;Gravitas: Worst day for global markets since June 2020

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Shares of many tech leaders such as Apple (AAPL), Microsoft (MSFT), Google owner Alphabet (GOOGL) and Tesla (TSLA) are all deeply in red. However, Netflix (NFLX) is the poorest performer in the S&amp;P 500 in 2022, down more than 70 per cent, CNN Business reported.&nbsp;

The sharp drop is alarming Main Street, which is concerned that the US economy is losing its speed after a remarkable rebound from the pandemic-induced recession.

Also read |&nbsp;<a href="https://www.wionews.com/world/biden-sets-inflation-agenda-discusses-end-to-china-tariffs-477964">Biden sets inflation agenda; discusses end to China tariffs</a>

Investors are now waiting for capitulation, the point at which it appears that everyone has completely given up. When sentiment appears to be at its lowest, it may be time to begin buying them again.&nbsp;

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(With inputs from agencies) 
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The strong headwinds in the global economy have wiped off a whopping $7 trillion in market value from blue chip stocks in the S&P 500. Since the end of December last year, the index has dropped approximately 18 per cent.

The strong headwinds in the global economy have wiped off a whopping $7 trillion in market value from blue chip stocks in the S&P 500. Since the end of December last year, the index has dropped approximately 18 per cent. Following a 0.1 per cent fall on Thursday (May 12), the S&P 500 is now just beyond bear market levels, that is 20 per cent drop from a recent closing high. The Dow, which fell about 104 points, or 0.3 per cent, on Thursday (May 12), is down more than 13 per cent this year. Also read | Now, SEC probes delayed disclosure of Elon Musk's initial stake in Twitter, says report Technology stocks have been hit very bad. The Nasdaq managed a small rise on Thursday, but it is still down 27 per cent this year, placing it in market territory, according to US media reports. The tech sector is responsible for about $3 trillion of the S&P 500’s market cap decline. As per the analysis from Bespoke Investment Group, a research firm, The Nasdaq has dropped more than 20 per cent in the last 30 trading days. According to the firm, a dip of that magnitude has only happened 11 times earlier, and nine of those declines were “related with recession.” Watch | Gravitas: Worst day for global markets since June 2020 Shares of many tech leaders such as Apple (AAPL), Microsoft (MSFT), Google owner Alphabet (GOOGL) and Tesla (TSLA) are all deeply in red. However, Netflix (NFLX) is the poorest performer in the S&P 500 in 2022, down more than 70 per cent, CNN Business reported. The sharp drop is alarming Main Street, which is concerned that the US economy is losing its speed after a remarkable rebound from the pandemic-induced recession. Also read | Biden sets inflation agenda; discusses end to China tariffs Investors are now waiting for capitulation, the point at which it appears that everyone has completely given up. When sentiment appears to be at its lowest, it may be time to begin buying them again. WATCH WION LIVE HERE: (With inputs from agencies)

Big slump: US stock markets lost more than $7 trillion this year

After a $44 billion acquisition by billionaire Elon Musk, Twitter reported a stronger-than-expected user growth. In early trade, Twitter stock was also up by 1%.

Post Elon Musk's buyout, Twitter reports a stronger-than-expected user growth

Apple has revealed its financial results for the first quarter of 2022 and it becomes the world's first company to hit the $3 trillion market valuation. CEO Tim Cook has warned that sales could take a hit of up to $8 billion.

Apple hits $3 trillion market valuation, declares record-breaking Q1 sales

Shares of Twitter have jumped over 3% amid speculations of Musk sealing the deal with Twitter. Watch this report to know more.

Elon Musk's mission Twitter: Musk to seal the deal with Twitter? Twitter shares jump over 3%

India is all set to have its biggest-ever IPO. A Mega $2.7 billion LIC IPO is to open on May 4. Watch this report to know more.

LIC IPO: India's Biggest-ever IPO to open on May 4

The world's richest man Elon Musk has managed to strike a deal with the American micro-blogging site Twitter. The Tesla CEO will now be buying twitter for $44 billion, an all-cash deal.

A deal in the name of Free Speeh: Will Twitter open-source its platform?

Twitter accepts Elon Musk's buyout deal as it is set to be owned by World's richest man

The world's richest man Elon Musk has managed to strike a deal with the American micro-blogging site Twitter. The Tesla CEO will now be buying twitter for $44 billion, an all-cash deal. Now, deal subject to a shareholder vote.

Elon Musk's deal to takeover Twitter subject to a shareholder vote

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