Stocks fall as fears of recession increase
The stock market took a big slide Monday following a lackluster jobs report and growing fears of a recession in the next year. Jo Ling Kent breaks down what it all means.
Stock Market
Dow, S&P 500 see worst daily loss since 2022
Fears of a U.S. economic slowdown sent markets falling at the start of the trading week on Monday, with markets in Asia and Europe falling as well. CBS News senior business and tech correspondent Jo Ling Kent has more from New York.
What's driving the global market sell-off?
Stocks plunged Monday amid fears that the U.S. is entering the early stages of a recession, with the Dow Jones falling 2.6 percentage points. CBS News senior business and tech correspondent Jo Ling Kent examines what's driving the global economic uncertainty.
Here are the odds of an emergency rate cut from the Federal Reserve
The last time the Federal Reserve enacted an emergency rate cut was in March 2020, when the pandemic caused an economic shutdown.
4 reasons stocks are cratering — and what experts say you should do
U.S. markets fell for a third consecutive day amid fears of an economic slump. But experts say investors shouldn't panic — here's why.
Trump attacks Harris on economic news
Former President Donald Trump attacked Vice President Kamala Harris in Georgia over the weekend while campaigning with running mate JD Vance. Trump linked the recent lousy jobs report to Harris and took to social media Monday to link the stock market drop to her as well. CBS News campaign reporter Jake Rosen has more.
Stock market shocked by economy fears
The latest jobs report and slowed consumer spending are among the factors contributing to fears of a recession. CBS News business analyst Jill Schlesinger breaks down what to know as global markets react.
Stock market suffering disastrous day
U.S. markets are taking a hit Monday with the Dow falling over 1,000 points to start the day and semiconductor stocks like Nvidia and Intel dipping over 7%. Overseas, Japan's market had the worst day in its history, dropping over 12%. CBS News contributor J.D. Durkin has more.
Dow plunges more than 1,000 points amid U.S. recession fears
U.S. markets tumbled for a third consecutive trading day amid recession fears and tensions in the Middle East.
Stocks routed in Asia, tumble in Europe over U.S. recession fears
Japan's benchmark Nikkei 225 stock index plunged 12.4% on Monday in the latest bout of selloffs that are shaking world markets as investors fret over the state of the U.S. economy.
Stocks drop following weak July jobs report
The stock market plunged Friday after a weaker-than-expected July jobs report raised fears of a slowing economy. But should Americans actually be worried about the sell-off? CBS News contributor JD Durkin joins to discuss.
Dow plunges nearly 1,000 points amid sharp drop in U.S. hiring
Signs that the job market is slowing down are renewing investor concerns that the U.S. economy is losing steam.
Stocks dive as investors fret over signs of U.S. economic slowdown
Stocks fell sharply after new economic data raised concerns the economy could be slowing faster than expected.
The story of 2 American economies
Two major stock indexes, the S&P 500 and Dow Jones Industrial Average, are up over 15% compared to a year ago. Financial analysts point to this as an example of the U.S. economy's health, but the benefits are not accessible to all Americans. CBS News' Lindsey Reiser explains.
Inflation slows more than expected in June
Labor Department data released Thursday showed the annual inflation rate cooled from 3.3% in May to 3% in June. That's lower than the 3.1% rate some economists had projected. Jeanna Smialek, Federal Reserve and U.S. economy reporter for The New York Times, joins CBS News to unpack the report.
Keith "Roaring Kitty" Gill buys $245 million stake in Chewy
The meme-stock investor bought more than 9 million shares of the online pet supply company, causing its stock to surge.
Roaring Kitty posts image of a dog, and Chewy's stock price jumps
Chewy's stock price surged as high as $39.10, or 36%, after meme stock investor Keith Gill posted a dog image on social media.
Breaking down Nvidia's rise to the top
Nvidia launched in 1993 as a tech startup developing advanced video game graphics, and it's now the most valuable company in the world. Axios chief financial correspondent Felix Salmon joins to discuss what's behind the company's growth.
GameStop raises $2.1 billion after latest "meme stock" surge
The video game retailer has recently raised roughly $3 billion in cash, capitalizing on a jump in its stock price.
Keith Gill, GameStop's "Roaring Kitty," plans YouTube return
GameStop's stock price surged more than 40% after Keith Gill indicated he would appear on YouTube for the first time in three years.
Stock market rallies around AI boom
Artificial intelligence is reshaping American life, including changing the investment landscape as AI-related stocks are booming. CBS News' John Dickerson examines some of the best performers to explain which industries make up the AI revolution.
Who is Keith Gill, the "Roaring Kitty" pumping up GameStop shares?
Keith Gill, a financial analyst turned influencer, has helped turn GameStop into a stock market phenomenon. Here's what to know.
GameStop shares soar after "Roaring Kitty" reveals $116 million stake
GameStop's stock price jumped more than 87% in pre-market trading following post on Reddit linked to trader Keith Gill.
Top CEO pay is surging, report says
Paid compensation for chief executives of several Fortune 500 companies has risen dramatically over the last five years, according to a new report from The Wall Street Journal. WSJ writer Theo Francis joins to discuss why it's partly linked to a phenomenon known as the "Musk effect."
Wall Street's Shadow Market (2008)
Steve Kroft reported on the financial instruments that fueled the 2008 economic crisis.
Breaking
Gaetz ethics report says his drug use, sex with a minor violated state laws
A report by the House Ethics Committee found former Rep. Matt Gaetz paid multiple women, including a 17-year-old girl, for sex.
Biden commutes sentences of 37 of 40 federal death row inmates
President Biden is granting clemency to 37 of the 40 federal inmates facing death sentences. Their sentences will be commuted to life in prison without the possibility of parole.
Luigi Mangione pleads not guilty to state murder, terrorism charges
Luigi Mangione pleaded not guilty Monday to state charges in the murder of UnitedHealthcare CEO Brian Thompson.
Honda and Nissan announce plans to merge
Honda and Nissan have announced plans to merge, forming world's third-largest automaker by sales as the industry transitions away from fossil fuels.
Woman fatally set on fire while sleeping on NYC subway, police say
A woman died after she was set on fire aboard the New York City subway on an F train in Brooklyn, police say.
The Container Store says it's filing for bankruptcy protection
The Container Store said it is filing for bankruptcy protection after years of losses and declining sales.
Rep. Kay Granger confirms she has "unforeseen health challenges"
Rep. Kay Granger has not cast a vote in Congress since July and stepped down from the powerful House Appropriations Committee in March.
Philippines says it will buy U.S. Typhon missile system, angering China
The Philippines says it plans to buy the U.S. Typhon missile system as part of a push to secure its maritime interests, sparking warnings from China of a regional "arms race."
Over 1,000 North Korean casualties in Russia-Ukraine war, South Korea says
North Korea has sent thousands of troops to reinforce the Russian military in its war against Ukraine.
U.S.
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Walmart accused of illegally opening costly accounts for drivers
Walmart and Branch Messenger, a payments platform, accused of deceiving workers about pay from retailer for two years.
The Container Store says it's filing for bankruptcy protection
The Container Store said it is filing for bankruptcy protection after years of losses and declining sales.
Luigi Mangione pleads not guilty to state murder, terrorism charges
Luigi Mangione pleaded not guilty Monday to state charges in the murder of UnitedHealthcare CEO Brian Thompson.
Breaking
Gaetz ethics report says his drug use, sex with a minor violated state laws
A report by the House Ethics Committee found former Rep. Matt Gaetz paid multiple women, including a 17-year-old girl, for sex.
Nebraska Gov. Jim Pillen hospitalized after getting bucked off horse
Pillen's office did not specify what injuries he sustained or how serious they were, but noted he was expected to remain in the hospital for several days.
MoneyWatch
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Walmart accused of illegally opening costly accounts for drivers
Walmart and Branch Messenger, a payments platform, accused of deceiving workers about pay from retailer for two years.
The Container Store says it's filing for bankruptcy protection
The Container Store said it is filing for bankruptcy protection after years of losses and declining sales.
Honda and Nissan announce plans to merge
Honda and Nissan have announced plans to merge, forming world's third-largest automaker by sales as the industry transitions away from fossil fuels.
Party City files for bankruptcy, a day after announcing mass layoffs
Party City informed employees in an email on Friday that it was conducting an immediate "mass layoff" at its headquarters.
Senate approves bill to expand Social Security to millions of Americans
Senators approve a bill to expand Social Security benefits to millions of Americans, with President Biden expected to sign it into law.
Politics
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6 key takeaways from the Matt Gaetz ethics report
The House Ethics Committee released its highly anticipated report on former Rep. Matt Gaetz, detailing allegations of sexual misconduct, drug use and obstruction. He denies wrongdoing.
Greenland's leader says "we are not for sale" after Trump suggests U.S. takeover
President-elect Donald Trump also seemed to suggest the Panama Canal should belong to the United States.
Biden commutes sentences of 37 of 40 federal death row inmates
President Biden is granting clemency to 37 of the 40 federal inmates facing death sentences. Their sentences will be commuted to life in prison without the possibility of parole.
Breaking
Gaetz ethics report says his drug use, sex with a minor violated state laws
A report by the House Ethics Committee found former Rep. Matt Gaetz paid multiple women, including a 17-year-old girl, for sex.
Nebraska Gov. Jim Pillen hospitalized after getting bucked off horse
Pillen's office did not specify what injuries he sustained or how serious they were, but noted he was expected to remain in the hospital for several days.
HealthWatch
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HealthWatch
How to stay healthy during holiday gatherings
Seasonal illnesses are increasing just days away from the holidays. The CDC reports positive flu tests are up 9% in the most recent week and cases of whooping cough are six times last year's rate. Dr. Susannah Hills, an ear, nose and throat specialist at Columbia University Medical Center, explains how to stay safe.
Health care AI, intended to save money, requires expensive humans
Despite the hype over artificial intelligence in medicine, the systems require consistent monitoring and staffing to put in place and maintain.
Are you contagious? Here's when you're most likely to spread COVID, flu, RSV
How long are you contagious after getting COVID, flu, RSV, pneumonia and more? Here's what to know to keep others safe this holiday season.
CDC releases concerning new flu numbers
Thirteen states reported "high" or "very high" levels of flu-like illness last week, according to the U.S. Centers for Disease Control and Prevention. That's double the number of states from the week before. Ali Bauman reports.
A teen's misdiagnosis led to medication, but surgery led to a cure
Isaac Klapper was 10 years old when he started having episodes of what doctors initially thought was a movement disorder.
World
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Greenland's leader says "we are not for sale" after Trump suggests U.S. takeover
President-elect Donald Trump also seemed to suggest the Panama Canal should belong to the United States.
Australia approves extradition of former U.S. Marine
Former U.S. Marine Corps pilot Daniel Duggan will be extradited from Australia to the United States over allegations that he illegally trained Chinese aviators.
Philippines says it will buy U.S. Typhon missile system, angering China
The Philippines says it plans to buy the U.S. Typhon missile system as part of a push to secure its maritime interests, sparking warnings from China of a regional "arms race."
Over 1,000 North Korean casualties in Russia-Ukraine war, South Korea says
North Korea has sent thousands of troops to reinforce the Russian military in its war against Ukraine.
Israeli settlements, and the expanding divide of settlers and Palestinians
Today, upwards of 700,000 Israelis live in settlements which the U.N. calls illegal. "Sunday Morning" talks with two settlers and with Palestinians in the West Bank living on opposite sides of an Israeli security barrier.
Entertainment
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Entertainment
Samara Joy on new album, family tour
Samara Joy, the 25-year-old jazz sensation and three-time Grammy winner, joins "CBS Mornings Plus" to talk about her new album "Portrait" and her holiday tour with family.
Boyd Holbrook on his role as Johnny Cash
In the highly anticipated film "A Complete Unknown," Boyd Holbrook portrays Johnny Cash and brings to life the music legend's early interactions with Bob Dylan, played by Timothée Chalamet. Holbrook joins "CBS Mornings Plus" to talk about the role.
Blake Lively accuses costar of smear campaign
Actress and producer Blake Lively has accused Justin Baldoni, her costar and the director of "It Ends with Us," of repeated sexual harassment on set and of orchestrating a smear campaign against her. Baldoni's attorney called the claims "categorically false."
"Christmas Dance" by Darren Criss
In this web exclusive, Darren Criss and the Young People's Chorus of New York City help "Sunday Morning" celebrate the holiday in a performance of Criss' "Christmas Dance."
Holiday music with Darren Criss: "Have Yourself a Merry Little Christmas"
Darren Criss, the beloved star of television's "Glee," and the Broadway musical "Maybe Happy Ending," helps "Sunday Morning" celebrate Christmas with a performance of the Hugh Martin-Ralph Blane standard, "Have Yourself a Merry Little Christmas."
Technology
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Health care AI, intended to save money, requires expensive humans
Despite the hype over artificial intelligence in medicine, the systems require consistent monitoring and staffing to put in place and maintain.
Why drone hysteria has taken off
Alleged drone sightings have been multiplying exponentially, with more than 5,000 reported in the past few weeks. But experts say the majority of reports about unusual lights in the sky are probably anything but drones.
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.
Why drone hysteria has taken off
By most accounts, alleged drone sightings have been multiplying exponentially, with more than 5,000 reported in just the past few weeks. But experts say the majority of reports about unusual lights in the sky are probably anything but drones. Correspondent Tom Hanson reports.
Supreme Court agrees to hear case about TikTok ban
The Supreme Court said Wednesday it will hear an appeal from TikTok over a federal law that would ban the social media giant if it is not sold by its Chinese parent company. Jan Crawford has more.
Science
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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.
Class-action lawsuit over plastic recycling
This week a group of plaintiffs in Missouri, Kansas, California and Florida filed a class-action lawsuit against dozens of companies and organizations, claiming they've falsely promoted how easy it is to recycle plastics. CBS News Los Angeles climatologist Marina Jurica has the details.
Why fish, birds and other animals yawn too, according to an expert
Humans aren't alone when it comes to yawning — all vertebrates do it. But why? An expert explains the likely reason behind this "evolutionarily ancient" act.
Americans coexisted with 4-ton sloths for millennia, research shows
Early Americans may have spent millennia sharing prehistoric savannas and wetlands with enormous beasts, research shows.
EPA tackling pollution in at-risk communities
The Environmental Protection Agency under President Biden created a new Office of Environmental Justice that seeks to address pollution levels in disadvantaged and marginalized communities. However, there is concern that the incoming Trump administration could do away with the new department. David Schechter reports.
Crime
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Crime
Mangione attorney speaks at arraignment
During Luigi Mangione's arraignment on New York state charges Monday, his attorney, Karen Friedman Agnifilo, addressed the court about concerns she has about Mangione having a fair trial in the case. Mangione pleaded not guilty to murder and terrorism charges stemming from the fatal shooting of UnitedHealthcare CEO Brian Thompson.
Inside Mangione arraignment on state charges
Luigi Mangione pleaded not guilty Monday morning to the New York state murder and terrorism charges he's facing for allegedly shooting UnitedHealthcare CEO Brian Thompson. CBS News correspondent Lilia Luciano and CBS News legal contributor Caroline Polisi have the latest.
CEO killing suspect to be arraigned
Luigi Mangione, the man accused of killing UnitedHealthcare CEO Brian Thompson, is expected to appear in a New York court Monday to face state charges, including first-degree murder as a crime of terrorism.
Luigi Mangione pleads not guilty to state murder, terrorism charges
Luigi Mangione pleaded not guilty Monday to state charges in the murder of UnitedHealthcare CEO Brian Thompson.
Woman killed after being set on fire on NYC subway
A suspect is in custody after a woman was killed after being set on fire inside a New York City subway car on Sunday. Tammy Mutasa has the latest.
Space
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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.
NASA leader weighs in on Elon Musk, SpaceX and plans for moon rocket
NASA Administrator Bill Nelson says he's optimistic the Trump administration will support the space agency's agenda.
Boeing Starliner crew's return delayed again
Two astronauts who have been stuck in space since June will have to wait until at least the end of March to come home after NASA on Wednesday again pushed back their return date. Derrick Pitts, chief astronomer for the Franklin Institute, joined CBS News to discuss what's causing the delays.
Latest Galleries
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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.
Summer music heats up 2024
Live performances are in full swing this summer. Scroll through our concert gallery, featuring pictures by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
Latest CBS News Videos
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Latest CBS News Videos
Ethics report: Gaetz paid for sex with minor
The House Ethics Committee report on Matt Gaetz says it found evidence the former congressman paid for sex with a 17-year-old girl and used illegal drugs, according to a final draft of the comprehensive investigative report obtained by CBS News. Gaetz has denied the allegations. CBS News congressional correspondent Scott MacFarlane has more.
Mangione attorney speaks at arraignment
During Luigi Mangione's arraignment on New York state charges Monday, his attorney, Karen Friedman Agnifilo, addressed the court about concerns she has about Mangione having a fair trial in the case. Mangione pleaded not guilty to murder and terrorism charges stemming from the fatal shooting of UnitedHealthcare CEO Brian Thompson.
Samara Joy on new album, family tour
Samara Joy, the 25-year-old jazz sensation and three-time Grammy winner, joins "CBS Mornings Plus" to talk about her new album "Portrait" and her holiday tour with family.
Inside Mangione arraignment on state charges
Luigi Mangione pleaded not guilty Monday morning to the New York state murder and terrorism charges he's facing for allegedly shooting UnitedHealthcare CEO Brian Thompson. CBS News correspondent Lilia Luciano and CBS News legal contributor Caroline Polisi have the latest.
How to handle heated holiday discussions
A new survey reveals nearly half of Americans anticipate heated discussions at holiday gatherings this year, with politics, family issues and religion topping the list of hot-button topics. Dan Lyons, author of "The Power of Keeping Your Mouth Shut," shares advice on navigating the season peacefully.