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Tag: tumbles

Weekly mortgage demand from homebuyers tumbles 12%

A sign of a home for sale is pictured in Alhambra, California on May 4, 2022.Frederic J. Brown | AFP | Getty ImagesMortgage rates actually fell slightly last week, but the damage has already been done to housing affordability. Both refinance and purchase...

Dow tumbles 1,000 points for the worst day since 2020, Nasdaq drops 5%

Stocks pulled back sharply on Thursday, completely erasing a rally from the prior session in a stunning reversal that delivered investors one of the worst days since 2020.The Dow Jones Industrial Average lost 1,063 points, or 3.12%, to close at 32,997.97. The tech-heavy...

Huawei’s first quarter revenue tumbles as smartphone sales plunge

Huawei's smartphone business has struggled under U.S. sanctions that restrict it from buying chips and other components from key suppliers.Costfoto | Future Publishing | Getty ImagesBEIJING — Chinese telecommunications giant Huawei announced Thursday that first quarter revenue fell by nearly 14% from a...