Companies that exited Russia after its invasion of Ukraine are being rewarded with outsize stock-market returns — and those that stayed are not

The almost 1,000 companies that have opted to pull out of Russia following its unprovoked invasion of Ukraine are not just benefiting from a reputational boost. They are also being rewarded by financial markets, while those who remain behind are being punished. “We find that equity markets are actually rewarding companies for leaving Russia while … Read more

SeatGeek and Forbes Nix SPAC Deals During Market Pullback

Ticketing platform SeatGeek and media outlet Forbes Global Media Holdings Inc. terminated their mergers with blank-check firms on Wednesday, underscoring the challenges of taking companies public during this year’s stock-market turbulence. SeatGeek and Forbes became the latest companies to end combinations with special-purpose acquisition companies, or SPACs, after many investors soured on the once-hot alternative … Read more

The man who seized one of Argentina’s ships now warns there will be a wave of emerging-market defaults

He’s now expecting a debt epidemic. “We are on the brink of an epidemic of emerging market defaults, the scale and scope of which will rival the debt crisis of the 1980s,” he wrote in an op-ed in the Financial Times. “Rate increases by Western central banks, fallout from the COVID pandemic, surging food and … Read more

The next phase of America’s competitive white-hot market: Desperate renters facing bidding wars

Renters diving into a white-hot housing market are over-bidding on available apartments, marking the death knell of pandemic-era deals and months of free rent — all while potentially imperiling tenants who can’t afford to compete. A realtor in Philadelphia, for example, told the Philadelphia Inquirer she “broke down and cried with my client” after losing … Read more

Stock Market Today: Dow Drops, Oil Prices Rise, Alibaba Jumps

Text size Wall Street returns from the Memorial Day holiday. Angela Weiss/AFP via Getty Images Stocks were falling on Tuesday, as oil prices gained after Europe placed more restrictions on Russian oil. Dow Jones Industrial Average futures have retreated 218 points, or 0.7%, while S&P500 futures have declined 0.7%. Nasdaq Composite futures were down 0.4%. … Read more