>>Stocks Stumble To Start The Week
(New York, NY) -- The opening bell rings this morning after Wall Street closed sharply lower Monday on economic and tariff worries. Shares of chip giant Nvidia slid nearly nine-percent adding to the broad market decline. At the closing bell, the Dow Jones Industrial Average fell 649 points to 43-191. The S&P 500 lost 104 points to 58-49. The Nasdaq dropped 497 points to 18-350.
>>Trump's Tariffs Take Effect
(Undated) -- President Trump's 25-percent tariffs on good from Mexico and Canada are now in effect. Canada says it will impose retaliatory 25-percent tariffs on a hundred-billion dollars of U.S. goods. Trump also imposed another 10-percent tariff on Chinese imports, in addition to 10 percent tariffs enacted last month. Beijing also responded with retaliatory tariffs on U.S. food and agricultural products. Economists predict American importers will pass along the cost of tariffs to consumers, sending prices higher at the grocery store and car dealerships.
>>Trump Announces $100 Billion Chips Investment
(Washington, DC) -- President Trump says a high profile chipmaker will invest at least 100-billion-dollars in the U.S. The investment by Taiwan Semiconductor Manufacturing Company will mostly go into building five manufacturing facilities in Arizona. Trump said the semiconductor chips will play a pivotal role in the country's economic future. TSMC is Taiwan's biggest semiconductor manufacturer. Its chips power a number of tech products including iPhones. Phoenix Mayor Kate Gallego said the investment will reduce reliance on foreign supply chains.
>>Kroger's CEO Abruptly Resigns In Ethics Probe
(Cincinnati, OH) -- Kroger's CEO Rodney McMullen is resigning after an ethics probe. The grocery store chain said Monday that McMullen stepped down as chairman and CEO after an investigation found that his personal conduct violated Kroger's policy on business ethics. Kroger's lead director Ronald Sargent will serve as interim CEO while it searches for a permanent replacement. Cincinnati-based Kroger is the nation's largest supermarket chain by sales.
>>New Research Shows Positive Impact Of Higher Wages
(Berkeley, CA) -- California's fast-food minimum wage law has not led to the type of job losses that some predicted. That's according to the latest research done at Cal-Berkeley. Professor Michael Reich says that wages for fast-food employees have gone up by nearly ten-percent since that law went into effect last April. And, while there has been an increase in automation, he argues that was going to happen with or without the law. His research is now looking into whether that will keep workers from hopping from one job to another, seeking better wages.
