The stock markets are bracing for a volatile day as losses in tech giants Apple and Nvidia might prevent broader gains. The focus shifts to the U.S. Federal Reserve's interest-rate decision. Meanwhile,
The federal funding freeze put forth by the Trump administration has put the CHIPs Act grants to semiconductor companies in limbo Bank of America said. Read for more.
US stocks fall after the Fed held rates steady but suggested the inflation drop has stalled. Meta, Tesla and Microsoft report earnings after the bell.
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The S&P 500 and Nasdaq fell sharply, mainly due to a sell-off in Nvidia and other chipmakers. This comes amid the rise of a free AI assistant from Chinese startup DeepSeek, raising concerns about U.S.
The semiconductor company's share price was down 7% as of 3:45 p.m. ET amid the backdrop of a 1.8% decline for the S&P 500 (SNPINDEX: ^GSPC) and a 3.5% decline for the Nasdaq Composite (NASDAQINDEX: ^IXIC).
Affordable, DeepSeek in China competes with AI models from US tech giants Meta (META, Financial) and OpenAI while offering the same performance. Investors were becoming concerned about traditional AI development spending by The Magnificent 7 when they were told DeepSeek was joining the AI market.
It takes time for the Fed’s decisions to filter through the economy — and then even more time for consumers to see the difference.
Fed Chair Jerome Powell says, “We do not need to be in a hurry to adjust our policy stance.”
The US Federal Reserve decided to hold its key interest rate steady on Wednesday (January 29), maintaining it in the range of 4.25%-4.5%. The decision by the central bank’s Federal Open Market Committee (FOMC) came as anticipated,