Dow, Tech Stocks Fall As Powell Calls U.S. Economy 'Much Improved'; Boeing In Buy Range, While Tesla Rallies

The Dow Jones Industrial Average fell over 100 points as Fed Chairman Powell called the U.S. economy "much improved." Tesla stock reversed higher.

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  Dow Reverses, Tech Stocks Climb As Yields Drop; Tesla Jumps On 3,000 Price Target

  Investor's Business Daily
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  Boeing Eases Back Into Buy Range

  Investor's Business Daily Video

The S&P 500 And U.S. Economy Face Seismic Shifts From Joe Biden And The Fed

President Biden's spending plans, combined with a Federal Reserve looking to stoke inflation, have major implications for the U.S. economy and S&P 500.

TSMC shares slide, as Taiwan plays down Intel's $20 billion expansion challenge

TAIPEI (Reuters) -Taiwan Semiconductor Manufacturing Co Ltd (TSMC) shares fell nearly 4% on Wednesday after Intel Corp announced a $20 billion plan to expand its advanced chip manufacturing capacity, even as Taiwan's economy minister sought to downplay the impact. Intel said on Tuesday it will build two factories in Arizona and open its plants to outside customers, directly challenging the two other companies in the world that can make the most advanced chips - TSMC and South Korea's Samsung Electronics Co Ltd. Shares in TSMC, the world's largest contract chip manufacturer with clients including Apple Inc and Qualcomm Inc, fell as much as 3.9% on Wednesday morning, compared with a drop of around 1% on the broader market.

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  Intel doubles down on chip manufacturing with $20 billion investment

  Yahoo Finance
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  Intel to spend $20 billion on U.S. chip plants as CEO challenges Asia dominance

  Reuters