Here is what you need to know.
Chinese stocks plunge into the weekend. The Shanghai Composite slumped 2.5% as investors worried about the trade war ahead of next week’s G20 meeting between presidents Donald Trump and Xi Jinping.
Oil prices hit their lowest level in more than a year. West Texas Intermediate crude fell 4% to as low as $51.73 a barrel despite Saudi Arabia’s proposed production cuts.
Goldman Sachs is sued over the 1MDB scandal. In a civil suit, the Middle Eastern investment giant IPIC alleged “a massive, international conspiracy to embezzle billions of dollars.”
Black Friday now officially starts on the Wednesday before Thanksgiving, but many retailers were unprepared. Companies including Walmart, GameStop, and Lululemon experienced technical difficulties online on Thursday.
Facebook acknowledges hiring an opposition-research firm to smear George Soros. Facebook’s outgoing boss of policy and communications, Elliot Schrage, took the blame in a memo Wednesday after a New York Times investigation revealed ties to Definers.
Carlos Ghosn is out as Nissan’s chairman. The auto executive was ousted following his arrest in Tokyo on Monday on charges of financial misconduct.
Goldman Sachs uncovered a hedge-fund-investing strategy that’s beaten the stock market for the past 15 years. The firm has lists of stocks it thinks investors should be buying and dumping.
GameStop is selling its AT&T Wireless stores for $700 million. The company agreed to the sale to Prime Communications, turning its focus on the video game and collectibles industries.
US stock futures are lower. Dow futures are down 132 points, or 0.54%, and S&P 500 futures are down 13 points, or 0.5%.
The stock market closes early. Trading will conclude at 1 p.m. ET.
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