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Despite the European Central Banks (ECB) ban on employees accepting payments from third parties, ECB President Christine Lagarde, as a member of the Bank for International Settlements (BIS) board, still receives approximately €140,000 annually. Some ECB employees have complained on internal message boards about this apparent double standard. One ECB staff member wrote, "Preach water, drink wine." Lagarde is one of 18 of the worlds top central bank governors on the BIS board. While all of them receive a fixed annual salary and variable attendance allowances, the BIS does not disclose the specific compensation details for each member. The ECB states that Lagardes situation is different because, as a BIS board member, the presidents role means "participating in the governance decisions of the BIS, assuming governance responsibilities and associated legal risks. Given these responsibilities, the president receives remuneration from the BIS."EU High Representative for Foreign Affairs and Security Policy Karas: EU officials will discuss the loan to Ukraine today.February 23 (Futures News) - As of 15:00 Beijing time, spot platinum rose 0.77% and spot palladium rose 0.71%.According to the Ministry of Transport, the total number of cross-regional passenger trips today is expected to reach 362.58 million, a decrease of 4.7% compared to the previous day, but an increase of 11.9% compared to the same period in 2025.South Korean Finance Minister: The trade agreement between South Korea and the United States remains "in effect".

S&P 500 Drops 0.8% As Tesla Falls To New Lows

Jimmy Khan

Jan 04, 2023 14:22

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Tesla, Apple, and Energy Stocks Are Leading the Sell-Off

In the first trading day of the year, the S&P 500 came under a lot of stress. The heavily tech-focused NASDAQ Composite fell by more than 1%.


As traders responded to the sell-offs in the oil and natural gas markets, the energy sector led the decline. Ones of the greatest loses in the S&P 500 were APA Corporation, followed by EQT Corporation and Coterra Energy.


The S&P 500's worst-performing stock today was Tesla, which dropped to new lows after the publication of the unimpressive Q4 deliveries report. The price of Tesla shares has decreased by roughly 15% so far today.


Apple was one of the largest losers as well. As a result of news that it reduced orders for Apple Watch, MacBooks, and AirPods, the stock fell by 4%. NVIDIA, which is down 2.5%, has been the semiconductor stock market's biggest decliner.


From a broad perspective, investors are not prepared to take on more risk at the beginning of the year. Recession fears were emphasized by today's Manufacturing PMI survey, which revealed that the indicator fell for the third consecutive month. Today, traditional safe-haven investments including the US currency, gold, and Treasury bonds saw gains.

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