Wall Street

Asian stocks mostly lower after retreat on Wall Street

TOKYO (AP) — Shares were mostly lower in Asia on Wednesday and Hong Kong's Seng index tumbled 1.7% as thousands continued protests against proposed legislation that many city residents fear could further erode the territory's legal autonomy.

Renewed jitters over the trade war between the U.S. and China were weighing on sentiment, pulling shares slightly lower on Wall Street, where benchmarks fell for the first time in six days.

Japan's Nikkei 225 index lost 0.2% to 21,154.28 and the Kospi in Seoul shed 0.2% to 2,1087.60.Read more on NewsOK.com

Tesla’s bad news accelerates as Wall Street loses faith

Late last year, Tesla Inc. was fully charged and cruising down the highway on Autopilot.

Shares were trading above $370 each, sales of the Model 3 small electric car were strong and the company had appointed a new board chair to rein in the antics of sometimes impulsive CEO Elon Musk.

But around the middle of December, investors started having doubts about the former Wall Street darling's prospects for continued growth, and the stock started a gyrating fall that was among the worst in company history.

For the year, the share price is down around 40%, largely on concerns Tesla is running out of buyers for its vehicles, which range in price from a base $35,400 Model 3 to a larger Model X SUV that can run well over $130,000.

Morgan Stanley analyst Adam Jonas, on a private call with investors this week, raised the possibility that Tesla would have to be restructured due to rising debt and falling sales. Read more on NewsOK.com

Global stocks follow Wall Street higher

BEIJING (AP) — Most global stock markets followed Wall Street higher Wednesday after President Donald Trump downplayed his escalating tariff war with Beijing and said a settlement is possible.

Benchmarks in London, Shanghai and Tokyo advanced as investors tried to figure out the costs of U.S. and Chinese tariff hikes on hundreds of billions of dollars of each other's goods.

Trump said on Twitter the conflict over Beijing's technology ambitions and trade surplus was a "little squabble" between friends.Read more on NewsOK.com

Morning Agenda: Fresh Doubt Over A.I.G.’s Bailout

New documents raise troubling issues about the government’s actions in the 2008 bailout of A.I.G. | The chairman of Ocwen Financial will step down as part of a legal settlement, according to a report. | Wall Street scored its latest victory against financial regulation. | Why we need an insider trading statute.