Yahoo Finance Live anchors Seana Smith and Dave Briggs take a look back at some of Wednesday’s biggest headlines and look ahead at what to expect tomorrow.
Video Transcript
SEANA SMITH: It’s closing time here at Yahoo Finance. Let’s get you caught up on some of the biggest headlines of the day.
First up, the Fed’s staying on its rate-hiking campaign despite the recent volatility in the banking sector. Now, the central bank raising rates by 25 basis points, with Fed Chair Jay Powell reiterating the fact that the fight against inflation is far from over. Those comments ultimately dragging down the major averages here, which ended Wednesday lower. The Dow shedding more than 500 points during the session.
DAVID BRIGGS: In other news, NVIDIA founder and CEO Jensen Huang joined Yahoo Finance to fill us in on his company’s AI ambitions, Huang stressing how AI is moving out of the laboratories and into industrial operations while diving into how the company will incorporate it into its cloud services. Huang also showing off NVIDIA’s DGX supercomputer, which is designed to run generative models for imaging, video, and languages.
SEANA SMITH: And turning to tomorrow, TikTok CEO Shou Chew will be in the crosshairs of the US House Energy and Commerce Committee. Now, the social media platform is facing pressure from the Biden administration over issues of national security. TikTok could face a ban in the US if its parent company, ByteDance, does not sell its stake in the US’s version of the app. Shou Chew will tell lawmakers in his testimony that banning TikTok in the US is going to hurt American businesses and also the country’s economy.
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