US markets fell; DoorDash surged 11.6% on Wolt acquisition; Rivian soared 53% on Wall St debut.
- The Nasdaq fell 1.66% on Wednesday to close the session at 15,623.
- DoorDash soared 11.6% on Wolt acquisition & record Q3 results.
- Rivian soared 53% on Nasdaq debut in largest IPO of 2021, raising US$12bn.
The US markets fell again on Wednesday after US inflation data hit a 3-decade high in October with consumer prices jumping 6.2% from a year ago, increasing investor concerns that the Federal Reserve will need to increase its efforts to slow inflation.
The Dow Jones fell 0.66% to finish the trading day down 240 points to close at 36,080 points .
The tech heavy NASDAQ fell 1.66% to finish the trading day down 264 points to close at 15,623 points
One bitcoin is worth US$64,663 going into the Asian trading day.
The Australian dollar is firm against the major currencies and is buying 73.3 US cents.
US-food delivery giant DoorDash soared 11.58% yesterday after announcing its intent to buy Finland-based company Wolt for US$8bn in an all-stock deal. DoorDash shares were also boosted by the company’s Q3 results out this week showing record revenue of US$1.3bn, up from US$879m for the same period a year earlier, and gross order volume rose to US$10.4bn.
The world’s biggest IPO of 2021 hit the Nasdaq yesterday through electric vehicle maker Rivian Automotive. The Amazon-backed company soared as much as 53% during its debut session following an IPO at US$78/share raising around US$12bn which Rivian says will be used to fund growth through new segments, promising products and volume.
And Instagram is testing a ‘Take a Break’ feature to give users a reminder when they’ve spent too long on the app in a bid to address growing mental health concerns related with such social media apps.
Read the full story
in the Grafa app
To read the full article and more in the Grafa app, available on all app stores.
Track the trends
Get the hot tips first
Stay close to your investments
Learn to trade like a pro
Let your money entertain you
See more stories like this
48% of businesses say they will not raise prices, primarily due to the desire to...read more
Of the smaller cryptos, these ones were the movers. Mirrored iShares Gold Trust rose 353.48%...read more
Of the middle-sized cryptos, these ones were the movers. Metacraft rose 66.39% to US$1.31, closing...read more