Home » Wall Street Opens Mixed; Twitter Surges on Musk Stake Buy; Dow Down 185 Pts
By Geoffrey Smith
Fintech Zoom — U.S. stock markets opened mixed on Monday, still supported by Friday’s robust employment report, but with an element of caution in the air after reports of Russian atrocities in Ukraine and extended Covid-19 lockdowns in China raised the prospect of stiffer sanctions and a bigger, longer drag on the world economy.
By 9:40 AM ET, were down 185 points, or 0.5% at 34,633 points. The was down less than 0.1% but the was up 0.6%.
The was supported by a surge in Twitter’s (NYSE🙂 stock price, after Tesla (NASDAQ:) CEO Elon Musk disclosed a stake of 9.2% in the social media company. Musk has criticized Twitter in the past for suppressing free speech, and while his initial stake-building was described as ‘passive’, analysts speculated that he will push new CEO Parag Agarwal to loosen its content moderation policy. Musk is an active user of Twitter himself, but was forced to pay $40 million to settle SEC charges that he used the social media to…
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