Google says it plans to appeal the ruling in an antitrust lawsuit that calls the company a monopoly. And, Harris to announce her running mate today in Philadelphia.
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Today’s top stories
Investors will be watching the stock market nervously today after yesterday’s sharp sell-off. The Dow Jones Industrial Average tumbled more than 1,000 points while the S&P 500 Index dropped by 3%. Japan’s stock market also fell sharply but recovered overnight. The market’s unpredictability has raised questions about the staying power of the U.S. economy, which had been a pillar of global growth since the pandemic.
???? NPR’s Scott Horsley tells Up First that most analysts believe the stock market slide is an overreaction. The economy is not growing as fast as it has been. «We’re no longer adding jobs at the pace we were a year or two ago. But we’re not on the brink of a recession», he says. The Federal Reserve is keeping an eye on the market to make sure the financial system is functioning properly. They didn’t cut interest rates last week and now some see that as a missed opportunity, Horsley adds.
Vice President Harris is expected to announce her pick for vice president later today. Sen. Mark Kelly of Arizona has the highest favorability rating, according to the latest NPR poll. Still, half of the respondents say they’re unsure or don’t have an opinion of him. Harris is set to hold an event with her pick in Philadelphia tonight. The duo will continue on a seven-state tour of mostly closely watched swing states.
A federal judge has ruled that Google acted illegally to ensure it dominated the search engine market.
