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Markets Right Now: US stocks rally, erase big drop in Dow

U.S. stocks are staging a furious late-afternoon rally Thursday, closing with gains after erasing a 600-point drop in the Dow Jones Industrial Average. The Dow rose 258 points, or 1.1 percent, adding to Wednesday’s record gain of 1,086 points. The S&P 500 added 21 points to 2,488....

Saudi banks reach $4.5B deal over zakat

Major banks in Saudi Arabia reached settlements worth a combined 16.7 billion riyals ($4.5 billion) with the kingdom’s tax authority over a religious levy the lenders had been kicking against. The deals come as the world’s largest crude exporter predicts a budget shortfall of 131 billion...

China's Huawei faces new setbacks in Europe's telecom market

The U.S. dispute with China over a ban on tech giant Huawei is spilling over to Europe, the company's biggest foreign market, where some countries are also starting to shun its network systems over data security concerns. Some European governments and telecom companies are following the...