Segun Olakoyenikan, Forbes Staff

Shopify fell by the most in the company’s public trading history after it reported a loss and warned revenue growth will shrink in the second quarter.

Tech stocks on Wall Street defied sticky inflation Friday to post their biggest gain in more than two months—easing market anxiety about a slowdown in economic activities—after blockbuster first-quarter earnings and continued betting on artificial intelligence fired up the valuations of major companies.

The world’s billionaires are riding high, with Forbes finding a record 2,781 of them around the globe this year, worth a record $14.2 trillion altogether. With many markets up, the surge in wealth has made 265 people billionaires over the past year, up from 150 newcomers in 2023.