WSJ Your Money Briefing What’s News in Markets: U.S. Steel Deal, SunRun Sinks, 23andMe Slides
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Jun 21, 2025 Discover how U.S. Steel shares soared after a major White House deal approval. Explore the plummet of solar stocks tied to Senate budget revisions. Dive into the latest developments surrounding the troubled sale of 23andMe. Gain insights into the key stock movements of the week and the news that influenced them.
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U.S. Steel Deal's National Security Aspect
- U.S. Steel's acquisition was blocked on national security grounds but later approved with conditions.
- The government gains control over production and trade via a "golden share" and requires significant domestic investment.
Solar Tax Credit Phase-Out Impact
- Senate revisions maintained the full phase-out of solar and wind tax credits, disappointing the renewables industry.
- The Senate plan allowed more time to use credits but lacked the more favorable changes hoped for.
23andMe's Bankruptcy and Bidding Drama
- 23andMe fell from a $6 billion valuation to bankruptcy, with assets auctioned for $256 million.
- Co-founder Ann Wojcicki aims to regain control by reopening bidding with a $305 million offer.