Stock market slump unsettling Americans eying retirement
A stock market slump this year has taken a big bite out of investors’ portfolios, including retirement plans like 401(k)s.
A stock market slump this year has taken a big bite out of investors’ portfolios, including retirement plans like 401(k)s.
George R. McKown, 71, who was convicted of conspiracy to commit securities fraud and wire fraud, also was ordered to pay more than $5.2 million in restitution to his victims.
Target Corp. is on pace for its worst stock drop since 1987’s Black Monday crash after becoming the second big retailer in two days to trim its profit forecast. Other retailers suffered steep drops in their stock prices Wednesday.
The investment fund is Centerfield Capital Partners’ fifth, and the largest yet in the private-equity firm’s 24-year history.
Thomas Buck built a reputation as one of the state’s top financial advisers before being sentenced to prison for securities fraud in 2019.
The sell-off was a sharp reversal of fortunes after markets posted large gains on Wednesday, a whiplash caused by temporary confusion over the Federal Reserve’s approach to raising interest rates this year.
Rising inflation that has caused the biggest jump in prices in 40 years has spurred the Federal Reserve to aggressively raise interest rates, which increases demand for U.S. dollars.
Putting Musk on Twitter’s board and limiting the amount of stock he can acquire while as a director may be a strategic move on Twitter’s part.
Twitter co-founder Jack Dorsey stepped down as CEO in November. Musk’s stake in Twitter is now more than four times the size of Dorsey’s, who had been the largest individual shareholder.
Twitter shares exploded 26% in premarket trading after the Securities and Exchange Commission filing showed that Musk snapped up more than 73 million shares, valued at $2.89 billion.
He’s the CEO of Indianapolis-based Sarson Funds, which offers cryptocurrency-focused investments to financial advisers and accredited investors. He spoke to IBJ recently—not from his office, but from what he calls the firm’s “secret location,” a house in Carmel where staffers build computers and do crypto mining.
MITO Material Solutions Inc. said it will use the investment to expand its Indianapolis operations, including new lab space for developing products and new composite material technologies.
The concern that Russian troops could descend on the Ukrainian capital, Kyiv, a city of about 3 million people less than a three-hour drive away, has added to uncertainties for investors already jittery over central bank strategies to combat inflation.
Indianapolis-based Allos Ventures, which invests in early-stage business-to-business software companies in the Midwest, said it plans to start making investments from Allos IV right away.
The S&P 500 index advanced 1.9%, reclaiming some of its January losses but still closing down nearly 5.9% in its worst monthly performance since March 2020. And the tech-heavy Nasdaq, still down 10% for January, climbed 3.4%, boosted by investors looking to buy the dip.
Stocks extended their three-week decline on Wall Street and put the benchmark S&P 500 on track to a so-called correction—a drop of 10% or more from its most recent high.
Monument Microcap Partners has also added three partners and two other employees, plus a branch office in the metro Detroit area.
The market kept setting new highs all year despite plenty of challenges, including rising inflation, global supply chain disruptions and outbreaks of more contagious variants of the COVID-19 virus.
Investors consistently hurt themselves with wrong-footed attempts to “time the market” and by chasing past performance, when they would be far better off to “keep it simple, stupid,” or KISS.
The company, which offers cloud-based software and other products for call-center operators, has a significant presence in Indianapolis but it’s unclear how the recent investment might affect local operations.