Stocks Drop Despite Nvidia's Big Rally 

Dow falls 600 points in worst day since March 2023.

Expect Higher-for-Longer Interest Rates, Fed's Bostic Says 

Atlanta Federal Reserve President Raphael Bostic expects to hold interest rates steady until it is clear that inflation is heading back to 2%.

SEC Widens Accessibility of Crypto Investing With Approval of ETFs for Ether 

The new funds will allow mainstream investors to buy and sell the cryptocurrency as easily as stocks or mutual funds.

Jobless claims fall again to 215,000. Strong labor market fuels U.S. economy. 

The number of Americans who applied for unemployment benefits last week fell again to 215,000, reaffirming that layoffs are low and the economy is being buoyed by a strong labor market.

Home builders are slashing prices to lure home buyers, but it may not be enough 

New home sales at 634,000 annual rate in April, versus 665,000 in prior month.

Boost for World Economy as U.S., Eurozone Accelerate in Tandem 

Global economic growth is becoming more broad based, with surveys indicating that business activity in both the U.S. and the eurozone gained momentum in May.

NOAA Predicts the Most Hurricanes It Has Ever Forecast 

This season will see between 17 and 25 named storms with winds of 39 miles an hour or higher.

Prices at the Pump Are Dropping Just in Time for Memorial Day Weekend 

Preholiday costs are about 5% below their inflation-adjusted average since 2000.

China's New Sovereign Bond Prices Go Haywire 

The price of China's new 30-year sovereign bonds has whipsawed since their recent debut, as small investors pile into a bet seen as safer than the country's property and equities markets.

South Korea Unveils $19 Billion Package for Chip Industry 

South Korea is seeking to catch up with international rivals amid soaring demand for advanced chips to power artificial intelligence and other computing.

(END) Dow Jones Newswires

05-23-24 1915ET