Wall Street Today | Note to Zuckerberg: META stock ticker will soon be available

The tech stock-rout, as steep as it's been, has still only pushed the Nasdaq Composite Index down about 8% from its November high, just shy of an official correction for a benchmark that's more than doubled in less than two years.

More than 36% of the stocks in the index are down at least 50% from their 52-week highs, an extraordinarily large number given the scale of the overall index's drop. Typically when the Nasdaq is within 10% of its peak, an average of just 12.5% of its stocks have declined that much.

Last year, Bitcoin's use at merchants that use BitPay dropped to about 65% of processed payments, down from 92% in 2020, the company told Bloomberg. Ether purchases accounted for 15% of the total, stablecoins were 13% and new coins added to BitPay in 2021 -- Dogecoin, Shiba Inu and Litecoin -- accounted for 3%.

Meta, owner of the world's largest social network, still trades under the ticker FB on the Nasdaq Global Select Market. The company originally said in October it would change its ticker to MVRS, a nod to the word "metaverse." Two days before the planned swap, though, Meta without an explanation, and said a change would come sometime in the first quarter.

The target of Mr. Musk's ire was a former U.S. Securities and Exchange Commission lawyer whom Cooley had hired for its securities litigation and enforcement practice and who had no involvement in the firm's work for Tesla.

Prices for Canadian customers also increased except for the basic plan. The latest increase to its monthly plans comes amid increased competition among streaming platforms and rising programming costs.

The outlook for economic growth in the first quarter and 2022 is darkening amid the latest wave of Covid-19, as consumers grapple with high inflation and businesses juggle labor and production disruptions.

Forecasters surveyed by The Wall Street Journal this month slashed their expectation for growth in the first quarter by more than a percentage point, to a 3% annual rate from their forecast of 4.2% in the October survey.

Singapore's property managers are accelerating their push abroad as a slow reopening and diminishing returns at home force them to look for growth opportunities elsewhere.

Foreign acquisitions by real estate investment trusts in the city-state jumped to an all-time high of 61 last year, data compiled by Bloomberg show. The total value of such deals also more than doubled from 2020 to $12.3 billion.

As the third-largest U.S. wireless carrier both in subscribers and in midband spectrum holdings, AT&T used the auction to close the gap with its rivals. The company is reorienting itself toward 5G services and fiber-delivered broadband, and unloading the $100 billion in TV and media businesses it acquired under previous management.