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Tuesday's top stories: Markets, Chegg-ChatGPT, Wednesday's Fed decision

Yahoo Finance

Yahoo Finance Live hosts Seana Smith and Akiko Fujita highlight several of today's top headlines and what to look out for this week.

Video transcript

SEANA SMITH: All right. Well, it is closing time here at Yahoo Finance. Let's get you caught up to speed on some of the biggest headlines of the day. First up, stocks ending the day lower across the board. All three of the major averages ending the day down by more than 1%. Now, this comes as concerns about regional banks linger. Oil also ending the day 5% lower over worries about the economy slowing. You see that reflected in the price of crude.

- Yeah. Down more than 5% there. We are starting to see the ripple effects of ChatGPT's growth as well. Chegg shares sinking 48% after the CEO of the online learning platform told analysts and investors, they believe that ChatGPT is starting to have an impact on their new customer growth rate.

SEANA SMITH: All right. And looking ahead to tomorrow, all eyes will be on the Fed's interest rate decision. It's widely expected the Fed will raise rates by 25 basis points as part of the ongoing battle against inflation. We will bring you that announcement as soon as it's released right here on "Yahoo Finance Live."