The latest news and events driving markets around the world, supplied by Marketwatch and Reuters.
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Billionaire Warren Buffett, whose stock picks over several decades have turned Berkshire Hathaway Inc (BRK/A.NaE) into one of the most successful conglomerates, delivered another black eye to the investment industry on Saturday, saying investors should "stick with low-cost index funds."
U.K. stocks dropped for a second day on Friday and ended with a weekly loss, with shares of Royal Bank of Scotland Group PLC and Standard Chartered PLC yanked down after downbeat financial updates. The FTSE 100 lost 0.4% to close at 7,243.70, extending its weekly loss to 0.8%. That broke the benchmark's three-week run of wins.
Vivendi chairman under investigation in Italy, reports say. Stocks in Europe dropped by the most in three weeks, finishing Friday's session by stepping back from 14- month highs as investors questioned the prospects for U.S. tax policy changes under U.S. The Stoxx Europe 600 closed down by 0.8% at 370.01, the biggest decline since Jan. 30, FactSet data showed.
Chip maker's stock suffers biggest-ever one-day price drop, snaps longest-ever streak of closes above 50- day moving average. Shares of Nvidia Corp. (NVDA.NaE) plunged on heavy volume on Thursday, after two Wall Street analysts swung to rare bearish ratings on the graphics chip maker, citing concerns over valuation and a tempered outlook for gaming. Analyst Romit Shah at Instinet downgraded Nvidia (NVDA.NaE) to reduce from buy.
Stocks pull back as U.S. fiscal stimulus seems farther off. Shares in Asia lost ground Friday as dovish signals from the U.S. Federal Reserve weakened the dollar, with possible consequences for the competitiveness of Asian exports.
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