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Finance: What you need to know on Wall Street today
PublishedBy: in Business Insider/FinanceApril 11, 2018


Hello. Here's what you need to know on Wall Street today.

Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox.

Mark Zuckerberg survived his first clash with Congress. Now it's time for round two.

The Facebook CEO is currently testifying before a US Congressional House committee following a series of bruising scandals for the social network, from the spread of Russian propaganda on its platform to Cambridge Analytica's misappropriation of up to 87 million users' data.

In the first part of the hearing, the 33-year-old Zuckerberg revealed his personal data had been harvested by malicious actors on the platform, said Facebook was considering suing Cambridge Analytica, and pushed back against allegations that Facebook censors conservatives.

Questioning has been considerably more aggressive and informed than a 5-hour hearing in front on a Senate joint committee on Tuesday. Here's the latest:

In finance news, struggling hedge fund Folger Hill is merging with another fund. And a veteran Wall Streeter has left Credit Suisse for a crypto trading desk.

In markets news, US stocks tumbled Wednesday as President Donald Trump escalated tensions with Russia through a series of tweets, rattling investor nerves at a time when fears of a global trade war were starting to ebb.

Here's the latest:

Lastly, the 32-year-old Lakers guard who made his NBA debut after 10 years in the G League lit it up, earned MVP chants, and became the feel-good story of the season.

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