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Stocks slip…Tech stocks lower…Businesses cut ties

NEW YORK (AP) — Stocks are slipping as trading cools in markets around the world following record-setting runs. The S&P 500 was 0.3% lower in afternoon trading and on pace to take a breather from a four-day winning streak that carried it to more all-time highs. Analysts said a pullback was no surprise following the big rally recently for everything from stocks to bond yields to commodities amid a wave of optimism.

NEW YORK (AP) — Shares of social media and other tech companies slid amid fallout the siege on the U.S. Capitol by supporters of President Donald Trump’s supporters. Twitter on Friday permanently shut down @realDonaldTrump, citing concern that Trump would use it for “further incitement of violence.” There is a growing risk for tech companies, especially social media, that Congress will attempt to collar them after last weeks rampage in Washington, D.C.

CHARLOTTE, N.C. (AP) — A growing number of Wall Street banks and businesses have cut off ties with President Donald Trump’s campaign and financial arms, as well as the broader Republican Party, following last week’s riots and insurrection at the United States Capitol. The financial technology company Stripe has cut off the Trump campaign from its payment processing services, a person familiar with the matter told The Associated Press. The move would cut off Trump’s fundraising arm from what has been a steady stream of small-dollar donations that are often solicited through emails and text messages.

UNDATED (AP) — Germany’s BioNTech, which developed the first COVID-19 vaccination on the market with American partner Pfizer, says it expects to produce 2 billion doses in 2021 with ramped-up manufacturing. Company CEO and co-founder Ugur Sahin says with three manufacturing sites in the United States and three in Europe operating or coming online soon, it expects to approximately double the number of doses committed for this fiscal year. The company said in a presentation Monday to the annual J.P. Morgan Healthcare Conference that it is also looking to expand the people able to receive its vaccine to include pregnant women and children, among others.

DETROIT (AP) — Ford Motor Co.’s new electric Mustang Mach E is the North American Utility Vehicle of the Year, and the company’s F-150 pickup Truck of the Year honors from a group of auto journalists. Hyundai’s Elantra compact car took Car of the Year as all three awards were announced during a Monday webcast. About 50 automotive journalists from the U.S. and Canada serve as judges, for the awards, which are announced every January.

Associated Press


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