Hyunsoo Rim

1 week ago | sherwood.news | Hyunsoo Rim

Rising employer costs in April are likely to blame for a lot of the drop-off. The UK job market looked a little like 2020 again last month. According to the Office for National Statistics, the number of payrolled workers by 78,000 in March — the steepest monthly fall in almost five years, when Brits were coming to terms with the first national lockdown and businesses were working out what that meant for the world of work.

1 week ago | sherwood.news | Hyunsoo Rim

Tariff uncertainty is sending inflation concerns to their highest point since the early ’80s. American consumers are bracing for rising prices — and losing faith fast. The University of Michigan’s consumer sentiment index dropped to 50.8 in April, the lowest reading since the 2022 postpandemic inflation — and the second-lowest on record since the survey began in 1952.

2 weeks ago | sherwood.news | Hyunsoo Rim

The iPhone maker rose more than 15% on its best day since 1998. Apple just added nearly $400 billion to its market cap, with shares soaring more than 15% on Wednesday — the company’s biggest single-day gain since 1998, per CNBC. To put that jaw-dropping ~$400 billion surge into perspective, it’s nearly as much as the market cap of Netflix ($404 billion) and just shy of a slew of consumer giants like McDonald’s, Starbucks, Adidas, and Domino’s combined.

2 weeks ago | sherwood.news | Hyunsoo Rim

More retirement savers are raiding 401(k)s to cover urgent costs, new data shows. For decades, 401(k)s have been a staple of US retirement savings, designed to sit as untouched nest eggs that workers build up for their golden years. However, that idea is starting to crack, as more and more Americans are tapping into the assets — which were worth a collective $8.9 trillion — earlier and more often, sometimes just to get by.

2 weeks ago | sherwood.news | Hyunsoo Rim

Assets in money market funds have been surging since 2022, hitting a record high last week. Last week’s reciprocal tariff announcement has investors more jittery than at any point this year. Economists are raising the odds of a global recession, US and global stock indexes are tumbling, and oil prices have tanked. Instead of buying the dip, though, some investors and corporations are doing the opposite: hoarding cash.