Investors suffered their worst first half of a year since 1970
The start of 2022 has pushed Wall Street into a bear market. Here's what the rest of the year could hold for investors.
Stock Market
Stocks fall as report reveals pullback in consumer spending
Investors are uneasy as signs point to possible recession caused by Fed interest rates hikes.
Consumer confidence declines amid inflation
Yahoo Finance anchor and reporter Akiko Fujita spoke with CBS News' Elaine Quijano and Tanya Rivero about the impacts of inflation on consumer confidence and spending. Fujita also discussed a new ban on Russian imports and how sanctions could affect the U.S. economy.
Stocks fall as inflation fears continue to grip investors
"Confidence is going to continue to shrink as long as inflation remains high," said one analyst.
MoneyWatch: Market recap for June 27th, 2022
All three major stock market indexes showed some volatility on Monday, with the Dow Jones down about 60 points at the end of the afternoon following early gains in the morning. Jeanna Smialek, a reporter covering the Federal Reserve and the economy at The New York Times, discussed factors driving the current market and how the Fed is working to combat inflation on CBS News.
S&P 500 on pace toward worst start in decades
Wall Street Journal reporter Julia-Ambra Verlaine joins "CBS News Mornings" to discuss why economists are optimistic about the second half of the year, despite a slow financial start to 2022.
Dow Jones rallies 800 points Friday
Aaron Weinman, finance correspondent for Business Insider, joined CBS News' Michelle Miller and Tanya Rivero to discuss Friday's stock market rally.
Stocks jump, with Wall Street on track for rare winning week
Financial markets are rising, with some analysts predicting an economic slowdown rather than a recession.
Stocks droop on Fed's commitment to "restore price stability"
Stocks have slumped in recent weeks amid investor fears that sharply higher interest rates could trigger a recession.
Is inflation deflating retirement savings?
Dan Geltrude, founder of accounting and financial consulting firm Geltrude and Company, offers advice for navigating retirement spending as inflation soars and the stock market sinks.
Stocks bounce back after steep selloff last week
Financial markets rebounded Tuesday, but some analysts think U.S. stocks have yet to touch bottom.
MoneyWatch: Janet Yellen on recession fears
The Federal Reserve raised interest rates as all major stock averages ended last week in the negative, but U.S. Treasury Secretary Janet Yellen said a recession is neither "imminent" nor "inevitable." Akane Otani, a reporter at The Wall Street Journal, spoke with "CBS News Mornings" about Yellen's comments amid growing fears about the future of the economy.
Stock market ends volatile week with sharp losses
The U.S. stock market on Friday ended its worst week since March 2020. John Quelch, dean of the University of Miami Herbert Business School, joins CBS News senior investigative correspondent Catherine Herridge to discuss the state of the economy.
Stock market's fall costs Americans $3T
The rising cost of consumer goods coupled with the stock market's decline is taking a devastating toll on Americans' retirement plans. This year's sell-off erased more than $3 trillion in value in retirement savings alone. John Leer, chief economist at Morning Consult, spoke with CBS News' Michelle Miller and Elaine Quijano about the affect on Americans' retirement plans.
MoneyWatch: Stock market drops as mortgage rate climbs
U.S. stocks fell sharply on Thursday, pushing the Dow Jones below 30,000 for the first time since January 2021. Meanwhile, mortgage rates had their biggest one-week jump in 35 years after the Federal Reserve hiked interest rates to tame inflation. Bartie Scott, a senior economy editor for Business Insider, joins Carter Evans to discuss.
MoneyWatch: Mortgage rates jump to 5.78%
Average long-term U.S. mortgage rates had their biggest one-week jump in 35 years after the Federal Reserve raised its key rate by three-quarters of a point. CBS News' Lana Zak joins Carter Evans to discuss the impact of soaring rates on consumers.
Financial expert talks impact of rate hike
The Federal Reserve raised interest rates by 0.75 percentage points Wednesday in an effort to fight inflation. CBS News Chief White House Correspondent Nancy Cordes reports on how the Biden administration is responding to the news, then CBS News Business Analyst Jill Schlesinger breaks down the impacts of this rate hike on the job market and your finances.
How Fed's interest rate hike could impact consumers
The Federal Reserve announced Wednesday it is raising its benchmark interest rate by three-quarters of a percentage point, the sharpest hike since 1994. CBS News correspondent Carter Evans reports on the decision. Then, Megan Greene, global chief economist for the Kroll Institute and a senior fellow at the Harvard Kennedy School, joins CBS News to discuss how the increase could affect the consumers.
Markets react to Fed interest rate hike
The Federal Reserve on Wednesday announced its largest interest rate hike since 1994, in an effort to combat historic inflation. Matthew Luzzetti, a senior economist at Deutsche Bank, joins CBS News to discuss how the move is impacting the stock market.
Stocks continue to fall, a day after S&P enters bear market
Volatility follows Monday's turmoil which brought panic among many worried about their 401(k) retirement savings.
How to manage investments in a bear market
Making the right moves with your investments and retirement plan is key when the stock market is in free fall like it has been. Joe Saluzzi, partner and co-founder of Themis Trading spoke to Anne-Marie Green and Vladimir Duthiers on CBS News about what to do with your portfolio.
Economy expert on stock market slump
Wall Street has entered a bear market, but experts warn you shouldn't do anything rash. CBS News Business Analyst Jill Schlesinger spoke to Anne-Marie Green and Vladimir Duthiers on CBS News about how to handle your finances in a down market, and what's to blame for plummeting prices.
MoneyWatch: U.S. stocks sink as inflation fears mount
The stock market's tumble has put the S and P 500 into a bear market. CBS News correspondent Elaine Quijano reports on Wall Street's drop on Monday. Then, Akiko Fujita, a reporter and anchor for Yahoo Finance, joins Errol Barnett on CBS News to discuss the latest on the markets.
Stocks just entered a bear market — here's what that means for your money
The S&P 500 hit a bear market for the first time in two years as stocks face "their worst start to a year in decades."
Market drops after Friday inflation report
Stocks fell Monday as markets continue to respond to Friday's inflation report. Tim Pagliara, a wealth adviser and the chief investment officer at CapWealth, talked to CBS News about what these losses could mean for the future of the U.S. economy.
Putin apologizes to Azerbaijani leader for "tragic incident" involving plane crash
The Kremlin said air defense systems were firing near Grozny on Wednesday due to a Ukrainian drone strike, but stopped short of saying one of these hit the plane.
Here's what the H-1B visa debate with Musk and Ramaswamy is about
Elon Musk and Vivek Ramaswamy are calling for the U.S. to admit more foreign tech workers. Not all Republicans agree with them.
Winning ticket for $1.22 billion Mega Millions jackpot sold in California
The Mega Millions jackpot winner could either take the cash payout of $549.7 million or the $1.22 billion annuity paid out over 30 years.
Trump opposes TikTok ban, asks Supreme Court for time to resolve via negotiations
The Supreme Court will hear arguments Jan. 10 in TikTok's challenge of a law that could lead to a ban of the widely popular platform.
Big Lots reaches deal to keep hundreds of U.S. stores open
Big Lots has reached a deal that will keep hundreds of its stores open after filing for bankruptcy protection earlier this year.
Israel detains director of northern Gaza's hospitals during a raid
Israel's military called the hospital director a suspected Hamas operative while providing no evidence.
Scottie Scheffler withdraws from PGA Tour opener after Christmas dinner injury
Scottie Scheffler withdrew from The Sentry, the winners-only tournament Jan. 2-5 in Kapalua Resort after he injured his hand on a broken glass.
Olivia Hussey, star of 1968 "Romeo and Juliet," dies at 73
Olivia Hussey won a Golden Globe for best new actress for her part as Juliet in Franco Zeffirelli's 1968 adaptation of William Shakespeare's "Romeo and Juliet."
Model Dayle Haddon dies in suspected carbon monoxide leak
Model Dayle Haddon died in a suspected carbon monoxide leak at the Bucks County home of her son-in-law, Hallmark movie star Marc Blucas, officials said.
U.S.
More U.S.
Big Lots reaches deal to keep hundreds of U.S. stores open
Big Lots has reached a deal that will keep hundreds of its stores open after filing for bankruptcy protection earlier this year.
Pro Football Hall of Fame finalists include Eli Manning, Antonio Gates
The Pro Football Hall of Fame on Saturday announced the names of the 15 modern-era finalists who advanced from a group of 25 to the final stage of voting.
Chess champion Magnus Carlsen disqualified for wearing jeans
Top chess player Magnus Carlsen was told he could change and continue competing, but he declined to do so.
Wyoming gov OKs sale of state land for Grand Teton National Park
Under the agreement, the federal government will pay the appraised value of $62.5 million for the property, while privately raised funds will supply the rest.
Scottie Scheffler withdraws from PGA Tour opener after Christmas dinner injury
Scottie Scheffler withdrew from The Sentry, the winners-only tournament Jan. 2-5 in Kapalua Resort after he injured his hand on a broken glass.
MoneyWatch
More MoneyWatch
Big Lots reaches deal to keep hundreds of U.S. stores open
Big Lots has reached a deal that will keep hundreds of its stores open after filing for bankruptcy protection earlier this year.
Janet Yellen tells Congress that U.S. could hit debt limit in mid-January
Treasury Secretary Janet Yellen said her agency will need to start taking "extraordinary measures" or special accounting maneuvers intended to prevent the nation from hitting the debt ceiling by mid-January.
Here's what the H-1B visa debate with Musk and Ramaswamy is about
Elon Musk and Vivek Ramaswamy are calling for the U.S. to admit more foreign tech workers. Not all Republicans agree with them.
Homelessness jumped to a new record this year as housing costs soared
Federal officials say homelessness rose 18% in 2024, driven mostly by a lack of affordable housing.
FDA wants new testing to detect asbestos in products with talc
The proposed rule is required under a law passed by Congress last year, and is intended to ensure the safety of makeup and baby powder.
Politics
More Politics
Capitol Hill lawmakers experiencing surge of swatting calls, bomb threats
In a Dec. 11 Senate hearing, U.S. Capitol Police Chief Thomas Manger testified that there had been more than 50 so-called "swatting" attacks on members of Congress over the previous month.
Janet Yellen tells Congress that U.S. could hit debt limit in mid-January
Treasury Secretary Janet Yellen said her agency will need to start taking "extraordinary measures" or special accounting maneuvers intended to prevent the nation from hitting the debt ceiling by mid-January.
Trump opposes TikTok ban, asks Supreme Court for time to resolve via negotiations
The Supreme Court will hear arguments Jan. 10 in TikTok's challenge of a law that could lead to a ban of the widely popular platform.
Marc Fogel designated as "wrongfully detained" in Russia
Marc Fogel, a Pennsylvania man imprisoned in Russia, has been designated as "wrongfully detained," according to the U.S. Department of State.
Trump picks Miami-Dade commissioner as ambassador to Panama
Cabrera is county commissioner of District 6, which represents parts of Coral Gables, Hialeah and the City of Miami.
HealthWatch
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FDA wants new testing to detect asbestos in products with talc
The proposed rule is required under a law passed by Congress last year, and is intended to ensure the safety of makeup and baby powder.
Systane eye drops recalled due to potential fungal contamination
Fungal contamination of an eye product is known to potentially cause eye infections, which may be vision- or life-threatening, according to the FDA.
Is multitasking a myth? Here's what research shows.
Busy lives have many of us juggling multiple tasks at once, but is that really multitasking? Here's what expert Linda Stone has learned about the myth of multitasking.
Why some children are turning to GLP-1 drugs
A growing number of young people are receiving prescriptions for GLP-1 weight loss medications like Ozempic and Wegovy. Janet Shamlian examines why.
Pet food brand issues recall over bird flu contamination
A voluntary recall was issued for a line of raw and frozen pet food after a cat died of bird flu.
World
More World
Israel detains director of northern Gaza's hospitals during a raid
Israel's military called the hospital director a suspected Hamas operative while providing no evidence.
Putin apologizes to Azerbaijani leader for "tragic incident" involving plane crash
The Kremlin said air defense systems were firing near Grozny on Wednesday due to a Ukrainian drone strike, but stopped short of saying one of these hit the plane.
What caused the Azerbaijan Airlines crash? Here's what we know so far.
Kazakhstan, Azerbaijan and Russia all opened investigations into the cause of the crash of Azerbaijan Airlines Flight 8243.
Marc Fogel designated as "wrongfully detained" in Russia
Marc Fogel, a Pennsylvania man imprisoned in Russia, has been designated as "wrongfully detained," according to the U.S. Department of State.
Italian government says journalist detained in Iran
Italy's Foreign Ministry says it's trying to "clarify the legal situation of Cecilia Sala" more than a week after she was detained while reporting in Iran.
Entertainment
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Entertainment
"Shred Sisters" author talks new novel
From the March sisters in "Little Women" to Cinderella and her wicked stepsisters, the relationship between female siblings is a favorite in works of fiction. One of the latest novels to enter that realm is Betsy Lerner's "Shred Sisters," a book that takes the reader on an emotional journey with three siblings. Lerner sat down with Dana Jacobson to talk about writing the novel, and how her earlier non-fiction writing informed the story.
Olivia Hussey, star of 1968 "Romeo and Juliet," dies at 73
Olivia Hussey won a Golden Globe for best new actress for her part as Juliet in Franco Zeffirelli's 1968 adaptation of William Shakespeare's "Romeo and Juliet."
Extended interview: Robert Eggers
Filmmaker Robert Eggers sits down with "CBS Saturday Morning" to discuss his adaption of the supernatural horror flick "Nosferatu," his passion for storytelling, what he'd like to tell superfans and more.
Cheyenne Grace topping the charts
Cheyenne Grace, a rising star from North Texas who is a high school student, is topping the iTunes charts with her debut holiday album, "Home for Christmas."
NFL doubleheader on Christmas Day sets streaming viewership records
Baltimore's victory over Houston averaged 24.3 million viewers, while Kansas City's win at Pittsburgh averaged 24.1 million, according to early viewer figures released by Nielsen.
Technology
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Technology
Trump seeks pause of possible TikTok ban
President-elect Donald Trump asked the Supreme Court Friday to pause a potential U.S. ban on TikTok from taking effect. In his brief, he said he said he wants to delay the ban in order to give time for his incoming administration to "pursue a negotiated resolution."
ChatGPT recovers after being hit by outages, OpenAI says
The OpenAI issue was caused by an "upstream provider," according to the artificial intelligence organization.
How AI powered robots are helping small farms
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
AI features dominating tech heading into 2025
New artificial intelligence features appeared across the tech landscape this year, from the latest iPhone to chatbots like Google's Gemini. Adam Auriemma, the editor-in-chief at CNET, joins CBS News 24/7 with more.
Researchers develop robot to help people walk
A robotic exosuit may seem like science fiction, but a team of South Korean researchers is turning the concept into reality. CBS News' Leah Mishkin explains how the new tech is helping people with disabilities walk on their own.
Science
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Science
California's mandatory clothing recycling program
Americans throw away billions of pounds of used clothes every year. But now, California is the first state to hold textile companies responsible for their products from start to finish. CBS News' Danya Bacchus explains.
These space missions will take off in 2025
Space agencies worldwide are gearing up missions in 2025 to expand humanity's horizons, from the moon and Mars to asteroids and beyond.
Orca who carried her dead calf for 17 days has a new baby
Tahlequah has a newborn girl, years after she made headlines for carrying her dead calf for 17 days.
2,600-year-old shipwreck is raised from waters off Spain
An ancient shipwreck that dates back to the 7th century B.C.E. has been removed from waters off Spain, two decades after its discovery in 1994.
What to know about the winter solstice, 2024's shortest day
The 2024 winter solstice, the shortest day of the year, happens on Saturday, Dec. 21, and is marked with traditions and celebrations around the world.
Crime
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Crime
Man indicted in NYC subway burned woman case
A man accused of setting a woman on fire in a New York City subway train has now been indicted on state murder charges. CBS News New York reporter Hannah Kliger has more.
Activists on woman burned alive in NYC
Medical examiners are using DNA evidence in hopes of identifying the woman who was burned alive on a New York City subway. CBS News legal contributor Jessica Levinson has more. Plus, more details on allegations against music mogul Jay-Z.
Tennessee to introduce a new lethal injection method
More than 2 years after Tennessee abruptly halted the execution of Oscar Smith, the state announced a new lethal injection method.
Dozen skeletons found in hidden graves in Mexico near U.S. border
Authorities have found 12 skeletons buried in clandestine graves in Mexico's northern Chihuahua state near the U.S. border, officials say.
Man accused of burning woman on subway indicted for murder, arson
A grand jury indicted Sebastian Zapeta, the man accused of setting a woman on fire on the subway, Brooklyn DA Eric Gonzalez announced.
Space
More Space
NASA spacecraft safe after historic closest-ever approach to sun
NASA's Parker Solar Probe hurtled through the sizzling solar atmosphere and passed within a record-breaking 3.8 million miles of the sun's surface.
These space missions will take off in 2025
Space agencies worldwide are gearing up missions in 2025 to expand humanity's horizons, from the moon and Mars to asteroids and beyond.
Discovery of "tipped over" black hole surprises NASA scientists
New analysis techniques and decades-old research helped NASA scientists identify an unusual black hole in a distant galaxy.
Why are the Boeing Starliner astronauts stuck in space?
Here's why NASA astronauts Suni Williams and Butch Wilmore are stuck, but not stranded, at the International Space Station after launching into space in June.
NASA delayes return date for astronauts
NASA has delayed the return date for Boeing's Starliner astronauts Butch Wilmore and Suni Williams. CBS News' Manuel Bojorquez reports on the decision to keep the two in space.
Latest Galleries
More Latest Galleries
Notable Deaths in 2024
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
The Scott Peterson case: New evidence?
Peterson's death sentence for the murder of his pregnant wife Laci has been overturned. Now his supporters are pushing for a complete retrial.
The troubled marriage of Ashley and Doug Benefield
The seesaw marriage between the former ballerina and her much older husband only lasted four years, until she shot him on Sept. 27, 2020.
Texas couple investigates teen daughter's unusual death
Cayley Mandadi's mother and stepfather go to extreme lengths to prove her death was no accident.
Serial killer Rodney Alcala's secret photos
See some of convicted serial killer Rodney Alcala's photographs that were discovered by detectives in a Seattle storage locker.
Latest CBS News Videos
More Latest CBS News Videos
Latest CBS News Videos
Maggie Rose performs "Fake Flowers"
Maggie Rose got an early start in the music world, performing in a Bruce Springsteen tribute band at 16. Three years later, she left college and moved to Nashville to pursue a music career. Since then, she's played at the Grand Ole Opry over a hundred times, recorded four studio albums and shared the stage with stars like Kelly Clarkson. Her latest album, "No One Gets Out Alive," is nominated for Best Americana Album at the upcoming 2025 Grammy Awards. Now, from that album, here is Maggie Rose with "Fake Flowers."
Maggie Rose performs "Under The Sun"
Maggie Rose got an early start in the music world, performing in a Bruce Springsteen tribute band at 16. Three years later, she left college and moved to Nashville to pursue a music career. Since then, she's played at the Grand Ole Opry over a hundred times, recorded four studio albums and shared the stage with stars like Kelly Clarkson. Her latest album, "No One Gets Out Alive," is nominated for Best Americana Album at the upcoming 2025 Grammy Awards. Now, from that album, here is Maggie Rose with "Under The Sun."
Maggie Rose performs "No One Gets Out Alive"
Maggie Rose got an early start in the music world, performing in a Bruce Springsteen tribute band at 16. Three years later, she left college and moved to Nashville to pursue a music career. Since then, she's played at the Grand Ole Opry more than a hundred times, recorded four studio albums and shared the stage with stars like Kelly Clarkson. Her latest album, "No One Gets Out Alive," is nominated for Best Americana Album at the upcoming 2025 Grammy Awards. Now, from that album, here is Maggie Rose with "No One Gets Out Alive."
The Dish: Vikas Khanna
Chef Vikas Khanna is known worldwide for his high-end Indian cuisine, and has restaurants in India, Dubai and the United States. Michelle Miller visits his newest establishment, Bungalow, an award-winning spot on Manhattan's Lower East Side.
"Shred Sisters" author talks new novel
From the March sisters in "Little Women" to Cinderella and her wicked stepsisters, the relationship between female siblings is a favorite in works of fiction. One of the latest novels to enter that realm is Betsy Lerner's "Shred Sisters," a book that takes the reader on an emotional journey with three siblings. Lerner sat down with Dana Jacobson to talk about writing the novel, and how her earlier non-fiction writing informed the story.