US charities received an estimated $617.2 billion in donations last year, a 5.7% increase from the previous year, marking the first time annual giving has exceeded $600 billion. The surge was driven by a strong stock market, particularly benefiting deep-pocketed donors and charitable bequests.
A Bank of America analyst warns the current US stock market rally, driven by a few AI chip stocks, mirrors the dot-com bubble's peak in 2000. He cites a narrow breadth of companies hitting record highs and suggests central bank tightening could trigger a collapse, advising investors to consider long-term bonds and defensive stocks.
South Korea's stock market has surpassed India's to become the world's sixth-largest, valued at $5 trillion, driven by semiconductor giants like Samsung Electronics and SK Hynix benefiting from the AI boom. India has fallen to seventh place.
The rally on the US stock market has paused, with the S&P 500 ending three consecutive trading days with losses before a slight gain on Wednesday. Many investors considered a pullback overdue after the index rose 19% in six weeks, reaching historically expensive levels.
SEOUL, May 10 (Yonhap) -- Individuals' overdraft credit loans at major commercia...
