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Month: August 2024

Sell-off on Wall Street: Why it is happening and what it says about the economy

Sell-off on Wall Street: Why it is happening and what it says about the economy

By Don Lee, Los Angeles Times

It’s nail-biting time on Wall Street.

Stocks had been dropping at worrisome rates for several days, but on Monday things went from concerning to panicky. At one point, the Dow Jones industrial average plunged more than 1,200 points, on a day when equity markets tumbled across the globe. It closed down 1,034 points, or 2.6%.

Technology stocks have been hit particularly hard lately: The Nasdaq composite was, for a moment on Monday, down more than 10% since the middle of last week, entering into what economists euphemistically call “correction” territory.

The sudden pullback has jolted investors and raised questions that go beyond financial markets to questions about the underlying health of the economy.

And even when things level out, the window-rattling downturn threatened to kill the political euphoria that has swept over Democrats since President Biden withdrew and Vice President Kamala Harris emerged as the party’s standard-bearer.

So what’s happened and what may be next? Here are first-draft-of-history answers to some of the crucial questions: read more

5 ways to get cheap car insurance

5 ways to get cheap car insurance

By Drew Gula | NerdWallet

Shopping for cheap car insurance can feel like hunting for Black Friday deals. You know what you want, but you have to compare different prices from different companies. And with each insurer using a unique pricing model, how can you really know when you’ve found the best deal?

Car insurance costs continue going up year after year, so you may be looking for ways to find cheaper coverage. A 2024 J.D. Power study revealed that nearly half of American car insurance customers have shopped for a new policy within the past year.

But while rates may be at an all-time high, it’s still possible to get cheaper car insurance if you consider these steps.

1. Work with an agent

The best way to get cheap car insurance is to compare insurance quotes from several insurers at least once a year, but this process can be time consuming. An independent agent can shop from multiple insurers for you, including smaller, regional insurers that may offer cheaper coverage than the large companies advertised on TV. An agent can also identify available discounts and help you choose appropriate coverage limits. read more