Datacenter and chip costs fueled sharp decrease in AI sector although non-AI stocks still had a strong showing

The latest shudder for stocks in the AI industry pulled markets lower worldwide on Thursday, while oil prices hit their highest levels since May on worries about the war with Iran.

The S&P 500 fell 1.2% for its worst day since July, while the Nasdaq composite tumbled 2.6%. The weakness for tech stocks was so overwhelming that it masked strength for the rest of the US market, in which the majority of stocks actually rose. The Dow Jones Industrial Average added 11 points, or less than 0.1%.

Scott Kirby says wealth inequality is a ‘danger to society’ and calls for inheritance tax in recent interview

Scott Kirby, the CEO of United Airlines, is under scrutiny from conservative politicians and commentators for saying wealth inequality is a “danger to society” and calling for a national wealth and inheritance tax in a recent interview.

Talking to the New York Times, Kirby was asked about the growing public distrust of CEOs and whether he felt any responsibility to quell that distrust.

The meal kit delivery service denies the allegations, saying it found claims to be ‘entirely without merit’

Workers at a HelloFresh facility in Newark, New Jersey, have claimed in court documents that they were verbally and physically abused and denied regular bathroom breaks, with one former worker telling the Guardian he experienced incontinence issues as a result.

The newly proposed amended complaint comes in a class-action lawsuit first filed in August 2024 against the food prep service giant and staffing agencies. A New Jersey state court judge is expected to review the amended complaint in a hearing scheduled for 23 October.

These graphics explain what the Democrats would need to do to flip the Senate and House of Representatives

A turning point in Donald Trump’s second term has arrived. Voters across the US are deciding whether to keep the president’s Republican allies in control of Congress, or return Democrats to the majority.

Many indicators of voter sentiment suggest the Democrats are favored to take back control of the House of Representatives, and potentially the Senate. Winning either would be a significant victory for the party and give it the power to block Trump’s legislative agenda and more aggressively investigate his administration.