Tesla Deliveries Drop and Stock Sinks; Fed Speech Awaited; Taiwan Quake Disrupts Chipmaking; Intel Forecasts Bigger Losses; Oil Prices Hold Near Highs
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Tesla reported weak Q1 vehicle production and deliveries numbers, prompting concerns about slowing demand and a selloff in the stock.
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U.S. stock futures edged lower ahead of a speech by Fed Chair Jerome Powell and other central bank officials that could provide clues about future interest rate hikes.
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A powerful 7.2 earthquake in Taiwan prompted TSMC to evacuate some chip factory areas, potentially causing production delays at the major Apple and other tech supplier.
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Intel disclosed a $7 billion 2023 operating loss for its semiconductor manufacturing unit, wider than the $5.2 billion loss in 2022.
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Oil prices steadied near 5-month highs as traders weighed signs of falling U.S. crude inventories and potential Middle East supply disruptions.