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Barclays pays $2 billion fine

The markets advanced during the midday with the Dow rocketing 361 points to 23,209. Nasdaq accelerated 137 points to 7086.


Barclays will settle claims that it mislead investors into buying toxic mortgage backed securities by paying a $2 billion fine. Investors lost billions during the financial crisis when more than half of the mortgages that Barclays securitized defaulted. Two former key employees also settled with the Justice Department by paying a combined fine of $2 million.


The latest iOS 11.3 update from Apple will include new data privacy information that explains how an icon will appear whenever personal data is being collected. New privacy management tools will be introduced in May that will allow users to deactivate or delete their Apple ID account, or request a copy of all the data that Apple holds on the user. The new tools will be available to all users around the world.


Facebook advertisers will no longer be allowed to use information that is gathered on users by third party data collection agencies. News that personal information on nearly 50 million Facebook users was collected by Cambridge Analytica sparked backlash against the social media giant. Advertisers will still be able to use information that Facebook has collected as well as information that the advertisers themselves have gathered.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The broader S&P 500 leaped 39 points to 2,644. Bitcoin crashed $441 to $7,431.


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