Stock losses accelerated in mid-morning trading as investors digest the impact of disappointing Big Tech earnings reports, coupled with rising bond yields.during the period, faster than consensus forecasts.
Andy Saperstein and Dan Simkowitz, two other Morgan Stanley executives considered to be in the running for the job, were also given new titles and responsibilities. The UAW also revealed COLA provisions were reinstated, along with a new three-year wage progression scale , as well as the end of wage tiers. The union said it secured gains for workers with pensions and 401 plans but did not reveal exact specifics.
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