Bonds & Stocks
Stock traders took some risk off the table ahead of the Federal Reserve decision, with a trio of tech heavyweights kicking off the megacap earnings season just days after DeepSeek roiled markets.The S&P 500 fell 0.3%. The Nasdaq 100 dropped 0.3%. The Dow Jones Industrial Average was little changed. The yield on 10-year Treasuries declined one basis point to 4.52% The Bloomberg Dollar Spot Index rose 0.2%.
Economy
President Donald Trump is overwhelming the political system in his drive to bend the US government to his will, plunging broad swaths of the federal bureaucracy into chaos while leaving the opposition snowed under by the sheer scope of his efforts. The White House offered federal workers buyouts on Tuesday night for those who didn’t want to end their remote arrangements, while warning employees the new administration planned additional aggressive cuts to the federal workforce.
World
Microsoft Corp. and OpenAI are investigating whether data output from OpenAI’s technology was obtained in an unauthorized manner by a group linked to Chinese artificial intelligence startup DeepSeek, according to people familiar with the matter.