The selling came as new economic data showed that even as inflation continues to cool, the economy is slowing.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness
Elon Musk depicted as liar, visionary in Tesla tweet trial
Attorneys delivered opening statements Wednesday at a trial focused on a Tesla buyout that never happened.
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Posted inBusiness, Maine, News
Gulf of Maine swath mulled as potential site for commercial wind turbines
In Portland on Thursday, the Bureau of Ocean Energy Management is scheduled to discuss a proposal that could allow wind-power leases on nearly 10 million acres of offshore waters.
Posted inBusiness, Nation & World, News
Microsoft lays off 10,000 as job cuts in tech sector continue
Microsoft is cutting 10,000 workers, almost 5% of its workforce, as it joins other tech companies in a scaling back of their pandemic-era expansions.
Posted inBusiness, Nation & World, News
U.S., Chinese officials discuss climate, economy, relationship
Yellen’s first face-to-face meeting with Vice Premier Liu He in Zurich is the highest-ranking contact between the two countries since their presidents agreed to look for areas of potential cooperation.
Posted inBusiness, Nation & World, News
Wholesale inflation in U.S. slowed further in December to 6.2%
Wholesale prices in the United States rose 6.2% in December from a year earlier, a sixth straight monthly slowdown and a hopeful sign that inflation pressures will continue to cool.
Posted inBusiness
Fastest Corvette ever is all-wheel-drive gas electric hybrid
The $104,000 E-Ray will hit showrooms during the second half of this year as a 2024 model.
Posted inBusiness
Davos organizers: Musk wasn’t invited despite what he says
Notables are gathering this week to talk about global issues ranging from war to climate change and technology’s effects on security.
Posted inBusiness
Greta Thunberg carried away by police at German mine protest
The government reached a deal with energy company RWE last year allowing it to destroy a village in return for ending coal use by 2030, rather than 2038.
Posted inBusiness
Stock indexes close mixed on Wall Street
The broader market is coming off its best week in two months.