House Finance Committee Examines GameStop Trading Frenzy
Lawmakers questioned executives from the trading app Robinhood and a major hedge fund, and a YouTuber who led the frenzy.
House lawmakers are diving into the Reddit-driven stock rally that upset Wall Street last month.
Small investors on the platform led the frenzy that sent shares in retailers like GameStop soaring.
This caused wealthy corporate hedge funds to lose millions for betting on those companies to fail.
The day trading app Robinhood then faced criticism for temporarily suspending investments in certain companies.
Now lawmakers and regulators are questioning those affected to see if there may be problems with the structure of the markets.
Elon Musk Sells $3.95 Billion Worth Of Tesla Stock
Musk sold 19.5 million shares of the electric car company from Nov. 4 to Nov. 8, according to the Securities and Exchange Commission.By Susan Walsh / AP
U.S. Futures Decline Ahead Of Fed Rates Decision
Futures for the Dow Jones and S&P 500 each slipped 0.3% Monday as investors eye another meeting by the Federal Reserve to weigh on interest rates.By Seth Wenig / AP
Stocks Surge On Wall Street; U.K. Tax Retreat Welcomed
European markets were also broadly higher, and most Asian markets gained ground after a volatile week that closed with most major indexes in the red.By Mary Altaffer / AP
Kirstie Alley, Emmy-Winning 'Cheers' Star, Dies At 71
Kirstie Alley died of cancer that was recently diagnosed, according to a social media post by her children.By Invision / AP
More Businesses Are Purchasing Gun Violence Liability Policies
Expert say incidents are being seen in court as less a "meteor falling from sky" and more of something that companies should be prepared for.By Stephen Spillman / AP
Sudan's Generals, Pro-Democracy Group Ink Deal To End Crisis
Sudan's coup leaders and the main pro-democracy group signed a deal Monday to establish a civilian-led transitional government.By Marwan Ali / AP