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BusinessPhoto: News18 Business

AI Selloff Causes $2.5 Trillion Loss, Kospi Drops 9%

Global markets experienced a severe selloff driven by fears over the AI boom's future, wiping out $2.5 trillion in US market value in one day. South Korea's Kospi fell nearly 9%, triggering circuit breakers and a 20-minute trading halt. Japan's Nikkei 225 dropped over 6%, entering a bear market. The Nasdaq plunged 5.52%, marking its worst day since April 2025, with the S&P 500 and Dow also seeing steep losses.

News18 Business·

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PoliticsPhoto: TOI World

US Judge Temporarily Halts Trump Arch Construction for 14 Days

A federal judge has temporarily stopped the construction of a triumphal arch celebrating American independence, approved by the National Capital Planning Commission. The project faces opposition from Vietnam War veterans and local groups citing lack of permissions. Legal disputes have paused the project for two weeks amid concerns about environmental impact and increased traffic.

TOI World·

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WorldPhoto: TOI World

North Carolina Farm Builds Seven Tiny Homes for Formerly Incarcerated Women

A North Carolina farm has built seven tiny homes inspired by a woman who spent 27 years in prison. In 2019, Deb, a former resident of Benevolence Farm, suggested creating a space where people leaving the shared farmhouse could live independently while supported by neighbors. The homes aim to help formerly incarcerated women and gender-expansive individuals transition to independent living.

TOI World··North Carolina

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BusinessPhoto: HT World

Michael Dell Started Computer Business at UT Austin at 18

Michael Dell began his computer business, PC’s Limited, at age 18 while a freshman at the University of Texas at Austin in 1984. The company recorded about $6 million in sales in its first year by selling computer components and customized systems directly to consumers, pioneering a model that challenged established manufacturers. Dell's early entrepreneurial activities began in Houston during his teens.

HT World··Austin

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BusinessPhoto: Hindu Business

Automobile Retail Sales Fall 24% in October 2026 Due to High Base Effect

Total vehicle retail sales in October 2026 fell 24% year-on-year to 3,172,466 units, mainly due to a high base effect from last year, according to Federation of Automobile Dealers Association (FADA). Two-wheelers declined 28.35% and passenger vehicles 14.23%, while commercial vehicles, three-wheelers, tractors, and construction equipment saw growth. October sales rose 25.05% compared to September 2026.

Hindu Business·

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BusinessPhoto: HT Business

Paraguay’s Ueno Bank Seized by Central Bank Amid Crisis

Ueno Bank, a popular digital bank in Paraguay serving 2.9 million people, was seized by the Banco Central del Paraguay on November 3rd. Despite its rapid growth and sponsorships, the bank faced regulatory intervention. This occurred shortly before Paraguay’s president Santiago Peña resigned on November 5th. Ueno had only received a full banking license in 2023 and aimed to become the country’s first unicorn.

HT Business·

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