(Bloomberg) -- An activist short seller attack on one US firm and the threat of regulatory action against another have conspired to deal a double blow to Cathie Wood and ARK Investment Management, as both shares are among her top holdings.
Wall Street pros are warning investors who bid up US stocks on expectations the Federal Reserve will soon be cutting interest rates to remember an old cliche: Be careful what you wish for.
First Republic Bank finished lower on Thursday, after briefly erasing declines when Treasury Secretary Janet Yellen said regulators would be prepared to take additional steps to guard bank deposits if warranted.
Block Inc. said it will explore legal action against Hindenburg Research after the short seller issued a report alleging the payments company facilitated fraudsters.
Accenture Plc surged after saying it will cut 19,000 jobs — about 2.5% of its workforce — over the next 18 months, one of the largest rounds of dismissals in a consultancy sector battling strong economic headwinds.
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