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Midday Update: Stocks Retreat From Record Highs as Wall Street Assess Geopolitical Risks, Tax Reform Debate

Midday Update: Stocks Retreat From Record Highs as Wall Street Assess Geopolitical Risks, Tax Reform Debate

Finance
Shutterstock photoWall Street's major indices retreated from record highs into negative turf on Tuesday as tax reform debate in Congress along with fresh geopolitical risks in the Middle East rekindles risk aversion.Financial stocks are leading decliners with Dow component stocks Goldman Sachs ( GS ) and JP Morgan ( JPM ) causing the bulk of the blue chips' losses. The energy sector is also underwater after West Texas intermediate ran into profit-taking before challenging the $ 60 per barrel mark.US stocks were flat to slightly lower at the open in sympathy with European bourses, which reversed early gains following a significant miss on German production data along with worries about war erupting between Saudi Arabia and Iran, as well as the fallout from the "Saudi purge" this weekend.S...
Protester who admitted to vandalizing iconic Wall Street bull is arrested

Protester who admitted to vandalizing iconic Wall Street bull is arrested

Finance
A woman who told CNBC she dumped blue paint on the iconic Wall Street bull to protest President Donald Trump's rejection of the Paris climate agreement has been arrested. Courtney Fallon, 33, has been charged with making graffiti and criminal mischief, the New York Police Department said Friday. The NYPD told CNBC on Thursday they found blue paint poured over the bull's head and a sash stating "Draw The Blue Line" around the "Fearless Girl" statue across from the bull. "Draw the Blue Line" is the name of the group protesting Trump's decision.Fallon told CNBC in an email on Thursday she is trying to cover New York City and the world with horizontal blue lines that represent rising sea levels. She wants to grab the attention of the UN General Assembly, which is meeting in New York this month...
Kim Wall case: Murder charge sought for Peter Madsen

Kim Wall case: Murder charge sought for Peter Madsen

World
Media playback is unsupported on your deviceProsecutors in Denmark say they will bring murder charges against the inventor suspected of killing a Swedish journalist on board his submarine.They are expected to ask for the new charges when Mr Madsen appears in court in early September.Ms Wall was last seen alive on 10 August as she departed with Mr Madsen on his self-built underwater vessel.On Wednesday a headless torso found in waters off Denmark was identified as belonging to Ms Wall.DNA from the torso - which had been weighted down with metal - matched that on Ms Wall's hairbrush and toothbrush.Mr Madsen initially said he had dropped her off safely near Copenhagen, but then said she died in an accident and that he had "buried" her at sea.He denies killing Ms Wall and was initially charged...
China's Great Wall eyes Fiat Chrysler bid

China's Great Wall eyes Fiat Chrysler bid

Business
Chinese carmaker Great Wall Motor is sizing up Fiat Chrysler, producer of Jeep, the classic American off-roader.A Great Wall official told Reuters it had "an intention to acquire" the Italian-American group - the world's seventh-largest car maker.It is not yet entirely clear whether it is interested in the whole company or just the Jeep brand.Earlier reports said Great Wall had asked to meet Fiat executives to discuss buying the off-road make. Jeep, which celebrated its 75th birthday last year, is considered FCA's most marketable brand. Its reputation goes back to World War Two, when Jeeps were used extensively by the US military.Global ambitionsShares in Fiat Chrysler Automobiles jumped 3.5% in Milan on Monday following the news.Yale Zhang, head of Shanghai-based consultancy Automotive Fo...
Bill Miller, Josh Brown are the latest Wall Street pros to test the bitcoin waters

Bill Miller, Josh Brown are the latest Wall Street pros to test the bitcoin waters

Finance
Some well-known names in the financial industry are buying bitcoin, and more could come.First, investing legend Bill Miller put 1 percent of his net worth into bitcoin in 2014, according to a Forbes report Tuesday. The digital currency is one of the top holdings in Miller's $ 120 million hedge fund, the article said.Reflecting its volatility, bitcoin in 2014 fell from a high of $ 1,023 in Jan. 2014 to a low near $ 287 in October of that year, according to CoinDesk.That puts Miller's bitcoin return anywhere from 126 percent to 707 percent, based on bitcoin's $ 2,315 price Wednesday.Miller left Legg Mason in August 2016 after 35 years and has since founded Miller Value Partners. The legendary investor's Opportunity Trust Fund Class C shares are up 23 percent this year, more than twice the re...