Wall Street experienced a turbulent trading day Tuesday, with major stock indexes managing modest gains despite dramatic swings beneath the surface as investors wrestled with artificial intelligence concerns and economic uncertainty.
The S&P 500 managed to climb 0.1% by the closing bell, though the index had fluctuated between a 0.5% gain and nearly a 1% loss during the session. Both the Dow Jones Industrial Average and Nasdaq composite also finished with 0.1% increases after similar volatility.
Entertainment stocks drew attention as Paramount Skydance emerged as a market leader following Warner Bros. Discovery’s decision to grant the company permission to present its final acquisition proposal for the entertainment giant. In a regulatory filing Tuesday, Warner Bros. revealed that Netflix had provided a seven-day waiver allowing renewed discussions with Paramount through February 23rd. However, Warner’s board continues endorsing its planned Netflix merger, with shareholders set to vote on that transaction during a special meeting scheduled for Friday, March 20th.
Consumer goods company General Mills saw shares decline after the company reported weakening customer confidence levels affecting business performance.
Technology heavyweight Nvidia demonstrated the market’s AI-related anxiety, alternating between dragging down the broader market and providing significant support as Wall Street continues navigating hopes and concerns surrounding artificial intelligence developments.
In other corporate news, pharmaceutical giant Bayer announced a proposed $7.25 billion settlement agreement to resolve thousands of U.S. lawsuits alleging its Roundup weedkiller causes cancer. The company and plaintiff attorneys filed the proposed resolution in St. Louis Tuesday, even as the Supreme Court prepares to hear Bayer’s arguments regarding federal regulations and warning label requirements for the widely-used herbicide. While Bayer maintains that glyphosate, Roundup’s active ingredient, does not cause non-Hodgkin’s lymphoma, the company acknowledged that mounting legal expenses have damaged Roundup sales in American agricultural markets. Bayer acquired Monsanto, Roundup’s original manufacturer, in 2018.
The Elevate Prize Foundation announced its 2026 winners Tuesday, including Monica Ramirez from Justice for Migrant Women and Mara Fleishman of the Chef Ann Foundation among ten recipients. Each organization receives $300,000 in unrestricted funding plus training to expand operations and increase visibility. Foundation CEO Carolina Garcia Jayaram explained to The Associated Press that enhanced visibility not only boosts fundraising and partnership opportunities but also provides protection for leaders facing pressure. The foundation simultaneously launched its “Good Is Trending” campaign Tuesday, taking control of NASDAQ’s Times Square billboards to showcase this year’s winners’ stories.
The Trump administration has expressed support for prediction market platforms Kalshi and Polymarket amid legal challenges from states claiming these platforms operate as unlicensed gambling operations. Commodity Futures Trading Commission leadership argues that federal law grants the CFTC jurisdiction over these markets, preventing state-level bans. Nevada has taken the most aggressive stance, with a federal judge issuing a temporary injunction blocking Kalshi’s operations there. The CFTC chairman contends these contracts function like futures rather than sports betting, while states argue most activity involves sports wagering with different age verification requirements.
Warren Buffett’s Berkshire Hathaway disclosed a surprising $350 million investment in the New York Times Tuesday, marking a notable shift five years after the legendary investor sold all newspaper holdings and predicted continued industry decline. This unexpected move highlighted Berkshire’s quarterly portfolio update during Buffett’s final quarter as CEO. The company also expanded its Chevron investment just before President Trump announced plans to revitalize Venezuela’s oil sector. When Buffett divested Berkshire’s newspaper properties in 2020, he declared the industry “toast,” though he suggested national brands like the Times or Wall Street Journal might still succeed.
The Trump Organization has filed federal trademark applications seeking exclusive rights to use the president’s name on airports and related services, including passenger shuttles, umbrellas, and flight suits. Company representatives state they don’t intend to charge fees, particularly regarding a proposed renaming of the Palm Beach airport. These filings coincide with Florida legislative discussions about naming the Palm Beach facility after Trump. A trademark attorney who discovered the applications described them as unprecedented.
India is hosting a significant AI summit in New Delhi this week, bringing together 20 world leaders and top technology executives as the country seeks to influence global artificial intelligence regulations while showcasing its own technological ambitions. The five-day conference, beginning Monday, represents what organizers describe as the first major AI summit in the Global South. Indian officials are positioning the country as a mediator between developed and developing nations, highlighting India’s digital identity and payment systems as examples of cost-effective scaling. The summit is expected to conclude with a non-binding New Delhi declaration, while a panel of experts released a safety risk report ahead of the meetings.
Thomas Pritzker announced his retirement as Hyatt Hotels’ executive chairman following revelations about his connections to convicted sex trafficker Jeffrey Epstein. In a prepared statement, Pritzker expressed deep regret regarding his association with Epstein and longtime associate Ghislaine Maxwell. Email correspondence between Pritzker and Epstein appears in recently released Department of Justice documents related to the ongoing investigation into Epstein’s connections with influential figures. Epstein died by suicide in 2019 while facing sex trafficking charges.
Estate planning experts suggest that wealth transfer strategies used by affluent families can benefit households with more modest assets. While most Americans won’t face estate taxes, inheritances can still become entangled in probate court proceedings, creating time and expense burdens for families. Many wealthy families utilize legal provisions allowing inherited stocks and property to be sold with minimal tax consequences. Financial advisors emphasize the importance of maintaining current beneficiary designations to ensure smooth asset transfers.
