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Tech Stocks Crumble As Wall Street’s 5-Week Rally Ends; Bonds Offer Safe Haven As Growth Worries Reemerge: What’s Driving Markets Friday?

Bears knocked on Wall Street’s door again Friday, sending large-cap tech stocks lower despite the Fed’s favorite inflation measure meeting expectations.

BTC

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TikTok Halts European Expansion To Focus On US E-Commerce

ByteDance-owned TikTok has halted plans to expand its e-commerce platform in Europe, focusing on U.S. growth instead. Regulatory challenges in the U.S. and concerns over potential bans prompted the shift. TikTok aims to increase its U.S. merchandise volume to $17.5 billion in 2024, countering threats from regulatory actions and enhancing its affiliate program to boost presence.

AMZN