Stock Selloff Continues as Oil Surges
WSJ.com: Markets
23 paź 2026, 20:24The Wall Street Journal
1 min read
Stock markets continue to decline as oil prices surge, with SK Hynix canceling its U.S. IPO plan and American Express cutting 5% of its headcount.
The ongoing stock market downturn coincides with a surge in oil prices, creating a challenging environment for investors.
South Korean tech giant SK Hynix has abandoned its plans for a U.S. initial public offering of its flash-memory subsidiary, citing unfavorable market conditions.
Meanwhile, American Express has announced a 5% reduction in its headcount as part of cost-cutting measures amid the economic pressures.
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