Remy Blaire brings the latest business headlines from the New York Stock Exchange as markets close for trading on Tuesday, April 2.
Full video transcript below:
I'm Remy Blaire, reporting from the New York Stock Exchange. This is what we are seeing today on TheStreet.
stocks closed today's session in the red. The Dow closed down more than 350 points, the Nasdaq closed down nearly one percent, and the S&P closed seven-tenths of a percent lower. This comes as investors began to lose faith in an interest rate cut in June following more positive-than-expected inflation data. Investors will be keeping an eye on the March jobs report due out on Friday.
In other news, the world now has more billionaires than ever and they are richer than ever. According to Forbes' annual billionaire list, there are currently 2,781 billionaires worldwide, of which 141 earned the title in the past year. The people on the list have a combined wealth of more than $14 trillion.
And billionaires are getting even richer: Two-thirds of them will increase their wealth in 2023, and the top 20 on the list will add $700 billion to their combined wealth since last year. LVMH CEO Bernard Arnault tops the list with a net worth of $233 billion. He is followed by Elon Musk with a net worth of $195 billion and Jeff Bezos with $194 billion.
Rounding out the top five are Meta's Mark Zuckerberg and Oracle CEO Larry Ellison. The richest woman on the list is Françoise Bettencourt Meyers of L'Oréal: she is 15 years old and has a net worth of $99.5 billion. The youngest billionaires in the world are the Italian Clemente Del Vecchio and the Brazilian Livia Voight; They are both only 19 years old.
At 841, the United States is home to the most billionaires on the list. China has 473 and India is home to 200.
That will be enough for your daily report. From the New York Stock Exchange, I'm Remy Blaire of TheStreet.
