Remy Blaire brings the latest business headlines from the floor of the New York Stock Exchange as markets close for trading Tuesday, April 2.
Full Video Transcript Below:
I’m Remy Blaire - reporting from the New York Stock Exchange. This is what we’re watching on TheStreet today.
Stocks were in the red to close out today's session. The Dow closed down over 350 points, the Nasdaq closed down close to one percent, and the S&P closed seven-tenths of a percent lower. This comes as investors started to lose faith in a June interest rate cut on the heels of hotter than expected inflation data. Investors will be looking ahead to the March jobs report due out on Friday.
In other news - the world now has more billionaires than ever before, and they’re richer than they’ve ever been. According to Forbes’ annual billionaires list, there are now 2,781 billionaires around the globe - with 141 of them earning the title over the past year. The people on the list hold a combined wealth of more than $14 trillion.
And billionaires are getting even wealthier - with two-thirds of them adding to their wealth in 2023, with the top 20 on the list adding $700 billion to their combined wealth since last year. LVMH CEO Bernard Arnault tops the list with a net worth of $233 billion. He’s followed by Elon Musk with a net worth of $195 billion, and Jeff Bezos at $194 billion.
Rounding out the top five are Meta’s Mark Zuckerberg and Oracle CEO Larry Ellison. The wealthiest woman on the list is L’Oreal’s Françoise Bettencourt Meyers - she sits at 15 with a net worth of $99.5 billion. The youngest billionaires in the world are Italy’s Clemente Del Vecchio and Brazil’s Livia Voight - both are just 19 years old.
With 841, the United States is home to the most billionaires on the list. China has 473 and India is home to 200.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m Remy Blaire with TheStreet.
