Global Shipping Stocks Sink After US Dockworkers Pause Strike

-- Shipping stocks slumped worldwide after a strike by US dockworkers was suspended after only three days, spurring predictions of a decline in the price of transporting goods by sea.A Housing Crisis Brews in Rwanda’s Capital City

“Now the strike has lasted just 72 hours we see limited knock on effects and expect freight rates will continue to normalize,” Alexia Dogani and colleagues wrote in a note. Tokyo-listed Kawasaki Kisen Kaisha closed down 9.7%, while Pan Ocean Co. fell 5.4% in South Korea and Hong Kong-listed Cosco dropped 7.3%.

The chief operating officer of Truth Social's parent company has resigned and the company must hand over almost 800,000 shares to one of its investors as part of a court ruling, according to a regulatory filing. COO Andrew Northwall resigned from Trump Media & Technology Group Corp. late last month, according to the Securities and Exchange Commission filing, adding that the company plans to “transition his duties internally.

ClearBridge Investments, an investment management company, released its “ClearBridge Large Cap Value Strategy” third quarter 2024 investor letter. A copy of the letter can be downloaded here. In the third quarter, increased volatility was caused by weak employment reports, leading to a brief correction in parts of the U.S. equity market.

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