- Reuters/Hannah Mckay
Here is what you need to know.
Stocks plunged at the end of Wall Street trade. The Dow Jones industrial average tanked 450 points off its highs in the final 90 minutes of trading Wednesday to finish the day down 167 points, or 0.7%. It’s on track to open Thursday’s session little changed.
Some Fed officials are worried inflation will stay too low. Minutes from February’s Federal Open Market Committee meeting revealed Wednesday that some Federal Reserve officials see an “appreciable risk” that inflation remains below their 2% target.
Britain just became the slowest-growing major economy in the world. Britain’s economy grew just 0.4% in the fourth quarter of 2017, according to revised data released Thursday by the Office for National Statistics.
A golden opportunity just opened up for cryptocurrency traders. The price of bitcoin is trading at a 13% premium in South Korea relative to US markets, according to data from CoinMarketCap.
Amazon is selling an exclusive line of over-the-counter medications. The line, called Basic Care, is essentially store-brand versions of medications like allergy medications or pain relievers that you might pick up at a grocery store or convenience store.
Eggo waffles are going bananas because of ‘Stranger Things.’ Sales of Kellogg’s Eggo waffles are up 14% year-over-year, boosted by one a “Stranger Things” main character’s obsession with the food.
Barclays slumps to a 1.9 billion British pound loss. The loss was due to a combination of factors including a hit from US tax changes, costs related to the sale of its Africa unit, and continuing payment-protection insurance payments.
Roku is getting destroyed after giving a disappointing revenue outlook. Shares of the maker of connected TV boxes and software for smart TVs tumbled more than 20% in after-hours trading Wednesday after the company said it expected first-quarter revenue of $120 million to $130 million, missing the $132 million Wall Street was expecting.
Earnings reports keep coming. HP reports after markets close.
US economic data trickles out. Initial claims will be released at 8:30 a.m. ET. The US 10-year yield is down 2 basis points at 2.92%.