Stocks Fall, as Cryptoâs Volatility Bleeds Into Broader Markets: Live Updates
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Source: Factset
Hereâs what you need to know:
Source: FactSet
By: Ella Koeze
Wall Street and corporate America have finally bought into Bitcoin, just in time for one of the ugly crashes the cryptocurrency regularly experiences.
Stocks slumped for a third day as a bust in the world of crypto â until recently considered a side show to actual financial activity â bled into the broader markets and hammered shares closely linked to the difficult-to-define digital assets.
The S&P 500 was down about 1 percent by midday, after dropping 0.9 percent on Tuesday with a sudden sell-off in the final hour of trading. The Nasdaq composite was down about 0.8 percent. Technology stocks led the declines.
Fox News Moves To Dismiss Dominion Lawsuit
The motion characterizes Dominion’s complaint as threatening “the deeply enshrined protections for the free press” and outlines two key reasons for dismissal.
By Mark K. Miller | May 19, 2021 | 6:00 a.m. ET.
Fox News Media on Tuesday filed a motion to dismiss a $1.6 billion defamation lawsuit against it by Dominion Voting Systems that alleges the cable news giant, in an attempt to raise its ratings, falsely claimed that the voting company had rigged the 2020 election. The Fox News Media motion says lawsuit seeks to “stifle the media’s free-speech right to inform the public.”
Fox News Files to Dismiss Dominion Voting Systems’ $1.6 Billion Lawsuit
Fox News on Tuesday asked a court in Delaware to dismiss a $1.6 billion defamation lawsuit from Dominion Voting Systems over the network’s post-2020 election coverage, arguing that the suit would stifle news outlets’ “free-speech right to inform the public about newsworthy allegations of paramount public concern.”
In March, Dominion filed a lawsuit alleging Fox News pundits spread false information about the company’s election machines while also asserting that Fox allowed certain figures, including former President Donald Trump and his lawyers, to make on-air claims about election irregularities during the Nov. 3 presidential election.
“There are two sides to every story. The press must remain free to cover both sides, or there will be a free press no more. Dominion’s $1.6 billion suit against Fox for covering both sides of this vigorous election dispute should be dismissed,” the filing read. “The freedoms of speech and press would be illusory if the prevailing party could obtain billions of dollars from the press for providing the losing side a forum.”
Dominion Voting Systems‘ lawsuit, filed in Delaware where both companies are incorporated in March, said Fox News personalities made false claims that Dominion had rigged the election in favor of President Biden despite officials such as former Attorney General William P. Barr and Georgia Secretary of State Brad Raffensperger rebutting allegations of fraud.