US stocks tumble into the red, while oil prices rise on Middle East conflict fears. Local stocks are tipped to dip at the open. Follow the day's events and insights from our business reporters on the ABC News live markets blog.
Google ordered to revamp app store after Epic Games lawsuitBig news in the tech world: Reuters is reporting a US judge has told Google it needs to make major changes to how it runs its app business.
For three years, the company cannot prohibit the use of in-app payment methods and must allow users to download competing third-party Android app platforms or stores. This all started when Epic Games sued Google back in 2020, arguing the company was using its power to shut out competition. A jury agreed with Epic last year, which led to this new ruling.
Since data on Friday showed the US jobs market looking stronger than anticipated, bets for further rate cuts by the Federal Reserve have pared back.Expectations for a Fed rate cut of 25 basis points at the central bank's November meeting stand at 84.6%, with the market pricing in a 15.4% chance it will hold rates steady, according to CME's FedWatch tool.
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