Technology shares fell sharply around the world Tuesday as investors questioned whether AI spending will produce profits that justify lofty valuations. SpaceX, chipmakers and memory stocks led the declines, while inflation and interest-rate concerns added pressure.
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The Senate passed the 21st Century ROAD to Housing Act in an 85-5 vote, sending a bipartisan housing affordability package to the House. The bill seeks to expand housing supply, streamline construction and limit large investors’ purchases of single-family homes.
Alan Greenspan, who led the Federal Reserve from 1987 to 2006 under four presidents, died at 100 from complications of Parkinson’s disease. His legacy spans a long economic expansion, market crises and later criticism over deregulation before the 2007-08 financial collapse.
EasyJet has rejected Castlelake’s latest £4.7 billion all-cash takeover proposal, saying it undervalues the airline. Castlelake has made the offer public ahead of a Friday deadline to make a firm bid or walk away.
The Lincoln Memorial Reflecting Pool renovation has encountered algae blooms and peeling blue sealant after a project whose cost rose above $14 million. The Interior Department says crews are using hydrogen peroxide, vacuums and nanobubble ozone technology to clear the water.
Cuba has approved 176 free-market measures that would expand private enterprise, foreign investment and private banking as the island faces severe shortages and U.S. pressure. President Miguel Diaz-Canel said urgent changes are needed but insisted the reforms aim to preserve socialism.
The national average price for regular gasoline fell below $4 a gallon for the first time since March after a preliminary U.S.-Iran agreement to end the war and reopen the Strait of Hormuz. Prices remain well above prewar levels, and experts warn broader cost pressures may persist.