What you need to know on Wall Street right now

Finance Insider is Business Insider's summary of the top stories of the past 24 hours.The biggest disaster for Wall Street in the past year was Valeant Pharmaceuticals, the drug company whose stock has lost about 90% of its value since October.Of course not everybody lost. Valeant was targeted by short sellers who made a bundle on the stock's plunge.And they're looking everywhere in the market for companies that may share Valeant's losing business strategy of using debt-funded acquisitions rather than R&D to grow their product line, and then jack up the price of those acquired drugs.Enter Concordia International.On Wall Street, retail broker Scottradeis now using Twitter to help traders beat the market, and Digital Asset Holdings, thehot finance startup led by Blythe Masters, has put together a dream team of hires.Hedge fund managers are being 'gored to death' by the bull market, andDonald Trump is getting slammed by billionaires with way more money than him.A huge part of the economy is hitting a wall.Goldman Sachs thinks it's time to sell some stocks. AndJamie Dimon just put America's standing in the world in perspective.America's 3rd-largest health insurer is losing $300 million a year on Obamacare, and// // // b'1:0};var fa=Array.prototype.forEach'function(a,b,c){Array.prototype.forEach.call(a,b,c)}:function(a,b,c){for(var d=a.length,e=m(a)'a.split(""):a,f=0;fThere's one thing that's saving the restaurant industry from becoming a disasterThe restaurant industry is indire straits.Why finance should say goodbye to spreadsheets forever Remember that scene in The Big Shortwhere Christian Bale goes through page after page of spreadsheets, before passing out from exhaustion'People could lose $3.8 trillion when the bond market gets back to normal -There's been a lot of concern over the bond market recently.Why Netflix's newest hit show could have big implications for investorsNetflix's new series "Stranger Things" is a monster hit.Japan announced a $275 billion stimulus package Japan's Cabinet approved a fresh economic stimulus package on Tuesday worth more than 28 trillion yen ($275 billion), Prime Minister Shinzo Abe's latest effort to get the stalling recovery back on track.A humiliating sign of just how tough things are for Deutsche Bank and Credit Suisse Credit Suisse and Deutsche Bank will be dropped from the STOXX Europe 50 index from Monday next and replaced by technology firm ASML Holding and construction company Vinci.4 stats about the US economy that will make anyone worriedNumbers can do lots of things.Join the conversation about this story
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