The number of Internet of Things (IoT) connections in China will increase to a record high of over 3 billion by the end of 2024, according to a white paper on the global digital economy released on Sunday.
The white paper was released at the 9th World Internet of Things Convention (WIOTC) that kicked off in Beijing earlier in the day.
It says nearly 1 million companies have the conditions to engage in the advanced digital economy such as intelligent Internet of Everything (IoE) in China.
More than 4.3 million IoT-enabled 5G base stations are expected to be built in China by the end of this year, according to the white paper.
IoT connections in China to reach record high of over 3 billion
U.S. stocks ended lower on Tuesday as lingering uncertainty over the second round of peace talks between the United States and Iran stoke investors' concerns over rising tensions in the Middle East.
The process of the expected second round of peace talks between the United States and Iran seems stalled as Iran reportedly decided not to take part, accusing the United States of violating the ceasefire. Meanwhile, U.S. President Donald Trump announced to extend the ceasefire on some conditions.
At the close of Tuesday's trading session, the Dow Jones Industrial Average fell by 293.18 points, or 0.59 percent, to 49,149.38. The S and P 500 sank 45.13 points, or 0.63 percent, to 7,064.01. The Nasdaq Composite Index shed 144.429 points, or 0.59 percent, to 24,259.964.
Ten of the 11 primary S and P 500 sectors ended in red, with real estate and utilities leading the laggards by going down 1.94 percent and 1.75 percent, respectively. Meanwhile, energy bucked the trend by adding 1.31 percent.
Following Apple's leadership reshuffle announcement, the company's shares fell 2.52 percent on Tuesday, leading the declines among the "Magnificent Seven" technology giants.
Apple said Monday that CEO Tim Cook will become executive chairman of the company's board of directors, while John Ternus, Apple's senior vice president of hardware engineering, will become the company's next CEO effective Sept 1, 2026.
US stocks end lower amid uncertain 2nd round of peace talks with Iran
