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Get the appGetMajor technology stocks fell sharply, losing $2 trillion in value, marking the worst day since 2025. The decline was driven by concerns over a potential AI slowdown and the impact of the US midterm election results. Nasdaq entered correction territory, South Korea's Kospi dropped 8%, and chip stocks were heavily affected, reflecting investor anxiety after the Democrats' election victory.
Investing.com·
PoliticsPhoto: Amar UjalaThe Supreme Court has ruled that anyone taken into police custody must be produced before a magistrate within 24 hours. This decision aims to prevent police arbitrariness and ensure legal safeguards for detainees. The court emphasized strict adherence to this timeline to protect individual rights during detention.
Amar Ujala·
BusinessPhoto: Mint CompaniesPrivate equity firms are increasingly using management incentives, which are payments beyond regular salaries, as a form of profit sharing. Industry executives say these incentives help attract and retain top talent to lead portfolio companies effectively through growth phases and eventual exits, enhancing overall value for investors.
Mint Companies·
BusinessPhoto: Mint CompaniesIveco reported a €45 million loss in the September quarter, marking its second quarterly loss this year, coinciding with Tata Motors taking control. Tata Motors now faces the challenge of turning Iveco around while managing acquisition debt and adhering to conditions that prevent immediate restructuring.
Mint Companies·
BusinessPhoto: TOI BusinessThe Indian rupee gained 16 paise to close at 94.48 against the US dollar on Thursday, marking its strongest level in two weeks and the fifth consecutive session of gains. The rise was driven by resumed foreign investor buying and crude oil prices falling below $100 per barrel. Dealers noted portfolio reallocation as investors moved away from AI investments.
TOI Business·
EntertainmentPhoto: TOI EntertainmentAfter a strong debut with Rs 9.25 crore net in India, Vijay Deverakonda and Rashmika Mandanna's film 'Ranabaali' faced a sharp decline at the box office. By the 21st day, the film's total collection reached Rs 58.98 crore, showing a significant drop especially during its second and third weeks.
TOI Entertainment·
Investing.com·
Major technology stocks fell sharply, losing $2 trillion in value, marking the worst day since 2025. The decline was driven by concerns over a potential AI slowdown and the impact of the US midterm election results. Nasdaq entered correction territory, South Korea's Kospi dropped 8%, and chip stocks were heavily affected, reflecting investor anxiety after the Democrats' election victory.
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