Stocks

Musk fired Twitter CEO Parag Agrawal and other top executives as his US$44 billion deal closed, CNBC first reported.

Shares of Meta plunged after the company reported dismal quarterly earnings.

The upside surprise in inflation could mean an RBA cash rate increase of either 40 or 50 basis points.

Focus on the metaverse comes as advertising revenues are under pressure.

One analyst predicts a slew of bad corporate earnings will continue through next quarter.

The number of “heavy tweeters” is in “absolute decline” amid a downturn in interest for news, sports and entertainment content, Reuters reported.

The Nasdaq Golden Dragon China Index fell 14% Monday and is down nearly 80% from its February 2021 peak.

In November last year, Tesla CEO Elon Musk became the first person in history to obtain a US$300 billion fortune.

Federal Budget, inflation numbers and central bank meetings overseas are the focus for markets.

Bond yields in the U.K. and U.S. skyrocketed to their highest levels since 2008 as the market lost confidence in governments’ ability to navigate a looming recession and digested sticky inflation data.