Stocks fall as Moody's bank downgrade adds to August woes

Worries about US banks were revived after Moody's downgraded 10 small and midsize institutions, which came with a warning it could lower credit ratings for some of the nation's biggest lenders. It flagged risks in their commercial real estate portfolios, a reminder that stresses in the sector persist after the banking crisis earlier this year. 

In Europe, bank stocks tumbled after the Italian government said it will put a 40% windfall tax on lenders' profits, raising fears that other countries could do the same. 

Optimism about stocks also took a hit Tuesday when data showed a slump in Chinese imports and exports in July that was far worse than expected. Demand is weak, dimming the prospects for a rebound in the world's second-biggest economy. 

Those discouraging economic signs come as investors wait for the release of the July inflation report on Thursday, looking for a steer on whether the Federal Reserve will put its interest rate hikes on pause again. 

Meanwhile, another batch of earnings reports is rolling in and could shed more light on how corporate America is faring. Results from UPS (UPS), Eli Lilly (LLY), Restaurant Brands (QSR), and Fox Corp (FOXA) are among the highlights.

Types of Cyber Attacks - 10 Real World Cyber Attacks

A look into the haunting world of cyber warfare, presenting 10 chilling real-world cyber attacks that shook the foundations of our interconnected society. 

Witness the devastation caused by notorious cyber threats like Stuxnet, WannaCry, and NotPetya, as we dissect the sophisticated techniques employed by hackers and state-sponsored actors to breach critical infrastructure, cripple businesses, and compromise sensitive data. 

Through in-depth analysis and expert insights, we aim to shed light on the evolving cyber landscape, highlighting the importance of cybersecurity vigilance in safeguarding against these relentless digital assaults. Prepare to be awestruck and educated as we navigate through the dark realms of cyber warfare.

Who is Elon Musk and what drives him?

The richest man on the planet, Elon Musk, used Tesla and SpaceX to revolutionise cars and rockets. Now, this restless entrepreneur has his eyes on other global problems. But who is Elon Musk and what drives him?

Twitter is on the Brink of Bankruptcy

When Elon Musk walked into Twitter's HQ with a kitchen sink, the tech world knew change was coming. But what exactly does this change entail? 

Explore the story behind Musk's Twitter takeover, the introduction of 'X', and what it could mean for the social media giant's future. Are we looking at a super-app revolution or is this just another marketing gimmick?

Ukraine tech sector goes to war

From the production of cheap battlefield drones to AI-powered missile detection, Ukrainian tech start-ups, IT workers and volunteers have been developing military tech and putting themselves on the front line of the war effort

Are Taylor Swift and Beyoncé to Blame?

In Europe’s battle against inflation, a new villain has emerged: Beyoncé and Taylor Swift! Last month, as Beyoncé kicked off her world tour, fans flocked to Sweden from around the world for the shows, pushing up prices for hotel rooms. 

This could explain some of the reason Sweden’s inflation rate was higher than expected in May according to Michael Grahn, an economist at Danske Bank. Why after a series of interest rate hikes and a surge in the price of essential goods like food and energy — are we seeing Taylor Swift’s latest tour break records and Beyoncé stand accused of boosting the entire nation of Sweden’s inflation rate during her two-night stay in Stockholm this May? 

Let's look into it...

US Banks’ $118 Billion Buffer Likely Wiped Out by New Rules

Wall Street's biggest banks are preparing for new regulations that could erase more than $100 billion in excess capital built up over the past decade. Vonnie Quinn reports on Bloomberg Television.