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• 23andMe

• U.S. Stocks

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23andMe

Genetic testing firm 23andMe has filed for Chapter 11 bankruptcy protection, following a steep decline in its valuation and ongoing financial struggles. CEO Anne Wojcicki stepped down but will remain on the board, with Joseph Selsavage named interim CEO. The company, once valued in the billions, has seen its market worth drop to under $20 million. Wojcicki’s previous attempts to take the company private were rejected, but she now intends to bid independently as 23andMe seeks buyers for its assets during a 45-day court-supervised sale. Alongside its financial difficulties, the firm has also faced scrutiny over data privacy after a 2023 security breach compromised the personal information of millions. Despite the bankruptcy, the company stated it will continue to operate and safeguard customer data throughout the restructuring process.

U.S. Stocks

U.S. markets surged Monday as investor confidence improved on signs that upcoming trade measures might be less sweeping than previously anticipated. The Dow advanced 597.97 points (1.42%) to 42,583.32, the S&P 500 climbed 1.76% to 5,767.57, and the Nasdaq rose 2.27% to 18,188.59. Shares of Tesla rebounded nearly 12%, while Meta and Nvidia gained more than 3%. Reports suggested that new duties could be narrower in scope, with possible delays for industry-specific levies. President Trump later indicated flexibility in applying the measures. Markets, which had been under pressure from fears of an economic slowdown, found relief in the more tempered tone.

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