Singapore's App-Led Car Sharing Offers Relief From Stratospheric Cost
GE Vernova buys AI company: GE Vernova is acquiring French software company Alteia, as the maker of power generation equipment looks to use AI for ways to strengthen the electric grid.
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Trump's new tariffs are wiping out markets and traders
Trump's new tariffs are wiping out markets and traders originally appeared on TheStreet. The new month began on a turbulent note for global markets, as President Donald Trump's fresh round of tariffs triggered a domino effect across stocks and crypto. Traders are reeling from a market-wide sell-off — and the damage is adding up quickly. In the past 24 hours alone, over 188,000 crypto traders were liquidated, with total liquidation losses crossing $805 million, according to Coinglass. The largest single liquidation was a $13.79 million ETH-USD perpetual trade on Binance. Nearly 91% of those liquidations were long positions. Crypto exchanges Bybit and Binance together accounted for more than $540 million in liquidations, as traders scrambled to salvage their bets. Bitcoin, Ether, XRP catches the heat Major cryptocurrencies dropped sharply in response. Bitcoin was trading at $115,443, down more than 2% on the day. Ethereum fell to $3,633, while XRP dropped 2% to $3.03. Dogecoin slid 2.9% to $0.21, as per Kraken. The broader crypto market turned red, with traders citing geopolitical tensions and a sudden collapse in risk appetite as key reasons. On July 31 night, the Trump administration raised tariffs on a broad set of imports. Products transshipped through third countries to evade duties now face a 40% levy. Tariffs on Canadian imports jumped to 35% from 25%. These surprise hikes sent global trade desks into a tailspin. Investors had expected aggressive rhetoric from Trump, but not overnight action. 'It caught everyone flat-footed,' said one anonymous trader to TheStreet Roundtable. 'There was no time to reposition.' Crypto and stocks are in the same boat Traditional equities and crypto aren't moving in opposite directions. Both asset classes are reacting to the same macro storm trade restrictions, inflation uncertainty, and fears of a global slowdown. The flight to safety is real, and risky assets are paying the price. U.S. stocks had their worst day in weeks. The Dow tumbled over 600 points, or 1.3%, while the S&P 500 lost 1.5%. The Nasdaq dropped 2%, dragged down by Amazon's 7% plunge after its light operating income guidance. GE, Caterpillar, and major banks also fell, hurt by concerns over slowing stocks are also tanking today as market jitters rattle even the biggest names. Strategy Inc. (MSTR) is down 5.5% at $379.76, shedding more than $22 in early trading. The sharp drop comes just one day after the company posted blowout earnings. Trump's new tariffs are wiping out markets and traders first appeared on TheStreet on Aug 1, 2025 This story was originally reported by TheStreet on Aug 1, 2025, where it first appeared.
Yahoo
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Jim Cramer has a blunt verdict on three hot stocks
Jim Cramer has a blunt verdict on three hot stocks originally appeared on TheStreet. When it comes to the stock market's most recent high flyers, Jim Cramer is not shy about his words. In a post on X, the CNBC anchor mentioned three stocks that he called "BORROWED TIME." On August 1, Cramer pointed to CoreWeave, Circle, and Figma as overbought. His advice comes as excitement swells around, as few tech and crypto-adjacent firms have lately gone public. Figma (FIG), the design software company, had its debut on July 31on the New York Stock Exchange. Soon after debuting at its $33 IPO price, Figma shares skyrocketed to $98—marking a surge of over 198% on its first day of trading. At one point, FIG went as high as $148 per share. At press time, however, FIG was trading at $114.05, down 1.26% in the last day. The company is valued at $55.66 billion as of writing. Figma also made headlines for its Bitcoin treasury holdings before going public, and has plans to grow its Bitcoin balance by adding another $30 million in Circle (CRCL), the publicly traded stablecoin issuer for USDC, has already seen a phenomenal run-up since going public on the New York Stock Exchange (NYSE) on June 5. It debuted at $31 per share, peaked in the day at $248, and had a rally of 700%. But on Friday afternoon, Circle was trading at $169.76, down almost 8%. The AI data center CoreWeave (CRWV), which originated from a crypto mining company, has also seen its fair share of growth. However, CRWV was trading at $104.28 on Friday, down from $114.13 the day before. The stock prices come as the larger crypto market experiences substantial corrections, with an $805 million liquidation after President Donald Trump's new proposed tariffs. Jim Cramer has a blunt verdict on three hot stocks first appeared on TheStreet on Aug 1, 2025 This story was originally reported by TheStreet on Aug 1, 2025, where it first appeared.
Yahoo
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Starbucks CEO talks rising coffee prices and tariffs
Coffee prices (KC=F) have risen more than 20% over the past year. President Trump's tariffs could cause them to climb even higher. Starbucks (SBUX) CEO Brian Niccol explains how the company prepares for higher prices and if it means you will have to start paying more for your morning cup. To watch more expert insights and analysis on the latest market action, check out more Opening Bid. the outlook for coffee prices. Uh, first actually coffee prices have already climbed well off the canvas and now you have uh, potential tariffs, very high tariffs into the mix. When will the price of coffee at Starbucks be forced to go much higher because of these tariffs? You know, look, here's the good news is we are a very much diversified in our uh, coffee buying and also the guys do a great job of being smart about what we buy, when we buy, how we hedge it. And so, uh, it has minimal impact, uh, you know, in the very near term. So we're able to be thoughtful about what we need to do going forward. So, obviously we'll continue to keep a close eye on it. It's something that is a big deal to us and uh, we're going to continue to make sure that we navigate it smartly. Brian, so will you have to raise prices and do you think Starbucks has the ability to do that? You know, right now we don't have any plans to raise prices. Um, and in the future, if we find that we need to do something like that, you know, we'll be smart about how we increase those prices. Related Videos Starbucks CEO Brian Niccol talks Q3 earnings, turnaround strategy Starbucks earnings fall short, CEO touts turnaround plan Komatsu CFO on US Tariff Impact Reddit, Fannie Mae & Freddie Mac, Fluor: Trending Tickers Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
