Stocks plunge to lowest levels since 2020 on aggressive rate hikes
Investors continue to worry that Fed could hit brakes on economy too hard and cause a recession.
Stock Market
Dow Jones enters bear market territory
All three major U.S. stock market indexes are in a bear market territory. Wall Street Journal reporter Akane Otani joins John Dickerson on "Prime Time" to discuss.
Recession fears mount as stocks fall sharply
"It is very likely that we are going to have a recession," said UC Berkeley economist James Wilcox.
Markets fall sharply amid recession fears
It was another disappointing week for the stock market with all major indices in the red. CBS News' Catherine Herridge speaks with Yahoo Finance reporter Alexandra Semenova about what we might expect in the coming weeks.
Dow drops below 30,000 points
The Dow Jones Industrial Average dropped below 30,000 Friday for the first time since 2020. Javier David, managing editor of business and markets at Axios, joined CBS News to discuss the volatile market.
Stocks plunge, dragging Wall Street toward another down week
Dow hits 2022 low as markets sell off on recession fears as central banks around the world jack up interest rates.
Stocks tumble on Wall Street as Fed escalates inflation fight
Fed raised key interest rate by three-quarters of a percentage point and signaled it plans to keep rates higher longer.
Stock market reacts to Fed interest rate hike
Stocks fell sharply Wednesday when the Federal Reserve announced it was raising interest rates again another 75 basis points. Liz Young, head of investment strategy at SoFi, joined CBS News to discuss what the Fed's announcement means for the future of the U.S. economy.
Stocks in flux ahead of Fed meeting
The Federal Reserve has twp-day meeting starting Tuesday and economists are preparing for another interest rate hike to come out of it. Saira Malik, chief investment officer of Nuveen, joins CBS News at the closing bell to discuss what is driving the market.
Stocks rise amid expectations of another big rate hike
But "markets have good reason to be braced for headwinds," one analyst said of expectations Fed will hike rates this week.
Wall Street closes lower after brutal week
It has been a trying week for the stock market and investors, with all major indices in the red on Friday. Hope King, business reporter for Axios, discusses what may be coming next, and how you can protect your money.
Markets fall to close out week
All three major stock indexes ended the week with losses for the fourth time in five weeks. Victoria Fernandez, chief market strategist at Crossmark Global Investments, joins CBS News to discuss what it means for the U.S. economy.
Stocks tumble as FedEx profit warning spooks investors
The market swoon adds to weekly losses sparked by a hotter-than-expected inflation report.
Wholesale prices up 8.7% since last year
The new wholesale prices report is echoing Wall Street's concerns that inflation isn't easing quickly enough. It comes on the heels of the worst day for stocks in more than two years. Matt Sapaula, founder of Money Smart Guy, joined CBS News to discuss.
Stocks plummet after August inflation report
Stocks dropped after the latest Consumer Price Index report showed U.S. inflation remains high. The Dow tumbled nearly 1,300 points Tuesday for the worst day since June 2020. Wall Street Journal reporter Dion Rabouin joins CBS News to discuss the market reaction.
U.S. stocks rally to close higher after sharp selloff
"A sustained rally is likely to require clear evidence that inflation is on a downward trend," a UBS analyst said.
Stocks plunge as inflation remains high
CBS News business analyst Jill Schlesinger joins "CBS Mornings" to explain why the stock market dipped and what the economy could look like heading into the holiday season.
Inflation remains high even as gas prices drop
The Consumer Price Index rose 8.3% in the past 12 months, as higher prices for groceries, shelter and medical care offset lower gasoline prices. CBS News chief White House correspondent Nancy Cordes has more on the latest report. Then, Jeanna Smialek, a Federal Reserve and economy reporter for The New York Times, joins John Dickerson on "Prime Time" to discuss the impact.
Stocks tumble on August inflation report
The Consumer Price Index report for August tanked the stock market as inflation continued to slow at a snail's pace. Emil Michael, chairman and CEO of DPCM, joins CBS News to discuss the impact on the overall economy.
Stock market faces volatility
Major stock indexes had a roller coaster day coming out of Labor Day weekend. Julia-Ambra Verlaine, markets report at the Wall Street Journal, joins CBS News at Tuesday's closing bell to discuss what was driving the market.
U.S. stocks end lower for 3rd straight week, despite jobs numbers
An early morning rally fueled by slower jobs report, faded by mid-afternoon, erasing all gains.
Investors concerned aggressive rate hike could be coming
U.S. jobless claims declined for the third week in a row, according to numbers released by the Labor Department Thursday. However, investors fear it could give the Federal Reserve the opportunity to make another aggressive interest rate hike this month. Marley Kayden, economic journalist and a professor at DePaul University, joined CBS News to discuss the job market and its impact on the stock market.
U.S. stocks slump as investors continue to fret over Fed plans
Markets have been roiled since Fed chair's speech Friday reaffirming central bank's aggressive plans to cool inflation.
Stocks close lower, adding to Friday's steep losses
Markets lost more ground after Powell's speech last week confirming more hikes: "We must keep at it until the job is done."
Stock market drops after Fed chair's speech
The Dow Jones Industrial Average fell more than 1,000 points Friday after Federal Reserve Chair Jerome Powell said the Fed will continue raising interest rates to tame inflation. Colby Smith, a U.S. economics editor for the Financial Times, joins CBS News' Catherine Herridge to discuss.
GOP senator blocks promotion of general involved in Afghanistan withdrawal
Lt. Gen. Christopher Donahue was slated to be promoted to a four-star rank and take command of the U.S. Army in Europe.
Nations at COP29 climate talks agree on $300 billion a year for poor countries
The $300 billion will go to developing countries who need the cash to wean themselves off coal, oil and gas.
Trump picks former White House aide Brooke Rollins to lead the USDA
The sprawling U.S. Department of Agriculture controls policies, regulations and aid programs related to farming, forestry, ranching, food quality and nutrition.
Singer-songwriter Khalid comes out as gay after being outed
The Grammy nominee, 26, posted a rainbow flag emoji and short statement, then added in another post that he had been "outted."
Israeli airstrikes kill at least 20 in Beirut as diplomats push for cease-fire
The strikes, which destroyed an eight-story building and left a crater in the ground, were the fourth in Beirut in less than a week.
Fred Harris, former senator and presidential candidate, dies at 94
It fell to Fred Harris, chair of the Democratic National Committee in 1969 and 1970, to help heal the party's wounds from the tumultuous national convention in 1968 when protesters and police clashed in Chicago.
2 killed in U.S. Civil Air Patrol plane crash in Northern Colorado
Two people were killed and a third was injured when a U.S. Civil Air Patrol plane crashed in Colorado's Front Range Saturday morning.
Trump selects Scott Bessent for Treasury secretary
Scott Bessent, the founder of the Connecticut-based hedge fund Key Square Group, had been making a full-court press for the post.
$20 million settlement reached in death of woman fatally shot by officer
Teresa Gomez, 45, was fatally shot in 2023 after a Las Cruces police officer on a bicycle approached her while she sat in a parked car with another person, authorities said.
U.S.
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Fred Harris, former U.S. senator and presidential candidate, dies at 94
It fell to Fred Harris, chair of the Democratic National Committee in 1969 and 1970, to help heal the party's wounds from the tumultuous national convention in 1968 when protesters and police clashed in Chicago.
GOP senator blocks promotion of general involved in Afghanistan withdrawal
Lt. Gen. Christopher Donahue was slated to be promoted to a four-star rank and take command of the U.S. Army in Europe.
Trump picks former White House aide Brooke Rollins to lead the USDA
The sprawling U.S. Department of Agriculture controls policies, regulations and aid programs related to farming, forestry, ranching, food quality and nutrition.
North Dakota Badlands national monument proposed with tribes' support
This would be North Dakota's first national monument, a proposal several tribal nations say would preserve the area's indigenous and cultural heritage.
$20 million settlement reached in death of woman fatally shot by officer
Teresa Gomez, 45, was fatally shot in 2023 after a Las Cruces police officer on a bicycle approached her while she sat in a parked car with another person, authorities said.
MoneyWatch
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Who is Scott Bessent? What to know about Trump's Treasury secretary pick.
If confirmed, Bessent would runn the department that manages the nation's finances as well as its tax agency, the Internal Revenue Service.
Trump selects Scott Bessent for Treasury secretary
Scott Bessent, the founder of the Connecticut-based hedge fund Key Square Group, had been making a full-court press for the post.
Walmart must pay driver it accused of fraud $35 million, jury says
A jury ruled that Walmart must pay a former employee almost $35 million after finding that the retailer defamed him.
Eggs are getting scarcer and pricier ahead of the holidays. Here's why.
Highly Pathogenic Avian Influenza — also known as bird flu — is killing layer hens and reducing the nation's egg supply.
Supreme Court takes up FCC fund dispute over subsidies for rural telecom services
The Universal Service Fund was created by Congress in 1996.
Politics
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Fred Harris, former U.S. senator and presidential candidate, dies at 94
It fell to Fred Harris, chair of the Democratic National Committee in 1969 and 1970, to help heal the party's wounds from the tumultuous national convention in 1968 when protesters and police clashed in Chicago.
GOP senator blocks promotion of general involved in Afghanistan withdrawal
Lt. Gen. Christopher Donahue was slated to be promoted to a four-star rank and take command of the U.S. Army in Europe.
Trump picks former White House aide Brooke Rollins to lead the USDA
The sprawling U.S. Department of Agriculture controls policies, regulations and aid programs related to farming, forestry, ranching, food quality and nutrition.
Trump meets with NATO head in Florida for talks on global security
In a brief statement, NATO said Trump and its secretary general, Mark Rutte, met on Friday in Palm Beach, Florida.
Trump nominates Marty Makary, who opposed COVID vaccine mandates, to head FDA
President-elect Donald Trump has nominated a critic of COVID-19 health measures to lead the Food and Drug Administration.
HealthWatch
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New treatments offer hope for older patients with a deadly cancer diagnosis
Glioblastoma typically kills within 18 months, but a new type of treatment has kept Nadya El-Afandi's scans clear 17 months after diagnosis.
1 infant dead in California, 9 hospitalized in latest listeria outbreak
Laboratory findings show that Yu-Shang Food ready-to-eat meat and poultry products were making people sick, the CDC said.
E. coli outbreak in St. Louis sickens 106, hospitalizes 2
More than half of the cases involve students, parents and guests of Rockwood Summit High School who attended events where food from Andre's Banquets and Catering was served.
What to know about the newly identified chemical in U.S. drinking water
Researchers have identified a chemical in certain tap water across the United States as chloronitramide anion. Here's what to know.
Whole Foods organic carrots and celery recalled amid E. coli outbreak
Whole Foods Market stores in five states sold recalled carrots and celery sticks that could contain E. coli.
World
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Nations at COP29 climate talks agree on $300 billion a year for poor countries
The $300 billion will go to developing countries who need the cash to wean themselves off coal, oil and gas.
Russia bans child adoption from countries that allow gender transition
The adoption ban would apply to at least 15 countries, most of them in Europe, and Australia, Argentina and Canada.
Kayaker's leg amputated after 20-hour rescue to free him from rocks
Officials said the man, a tourist in his 60s, was kayaking with friends in the Franklin River when he slipped and became trapped.
Israeli airstrikes kill at least 20 in Beirut as diplomats push for cease-fire
The strikes, which destroyed an eight-story building and left a crater in the ground, were the fourth in Beirut in less than a week.
A craving for good food flips gender roles in Italy
Around the world, women cook more meals per week than men, but Italy serves as the exception to the rule.
Entertainment
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Singer-songwriter Khalid comes out as gay after being outed
The Grammy nominee, 26, posted a rainbow flag emoji and short statement, then added in another post that he had been "outted."
Jonathan Majors' ex-girlfriend drops assault and defamation lawsuit
Lawyers for actor Jonathan Majors and Grace Jabbari agreed to dismiss the case with prejudice, according to a joint filing in Manhattan federal court.
The Coward Brothers perform "Early Shirley"
The Coward Brothers — better known as Elvis Costello and T Bone Burnett — began playing together more than 40 years ago, but until this week, the duo hadn't released any new music since 2006. Now, their new, self-titled album is earning critical acclaim. Now, from "The Coward Brothers," here are the Coward Brothers with "Early Shirley."
The Coward Brothers on new album
The Coward Brothers — better known as Elvis Costello and T Bone Burnett — began playing together more than 40 years ago, but until this week, the duo hadn't released any new music since 2006. Now, their new, self-titled album is earning critical acclaim. The pair opened up to CBS Saturday Morning about their fictional personas and that long hiatus earlier this week.
The Coward Brothers perform "Tipsy Woman"
The Coward Brothers — better known as Elvis Costello and T Bone Burnett — began playing together more than 40 years ago, but until this week, the duo hadn't released any new music since 2006. Now, their new, self-titled album is earning critical acclaim. Now, from "The Coward Brothers," here are the Coward Brothers with "Tipsy Woman."
Technology
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Technology
Who has the best Black Friday tech prices?
Black Friday is almost here, but some of the hottest tech items are already on sale. CNET senior editor Lisa Eadicicco joins CBS News to discuss high-demand gifts and what retailers offer the best prices.
AI grandma fights back against scammers
Daisy's mission is two-fold: To waste scammers' time so they can't speak to real people and to draw attention to fraud by warning consumers to be vigilant.
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.
Australia could ban social media for kids
Australian legislators introduced a landmark bill Thursday to ban social media for children under 16. CBS News London's Leigh Kiniry reports on what this could mean for social media companies.
DOJ targets Google's search engine monopoly
The Department of Justice on Wednesday filed a motion calling for Google to sell its Chrome search engine, arguing in court documents that "the playing field is not level." The Justice Department is also recommending dissolving any contracts in which Google is the default search engine on devices such as iPhones. Kelly O'Grady explains.
Science
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Science
How are U.S. winters permanently changing?
This winter, the National Oceanic and Atmospheric Administration predicted above-average temperatures throughout the U.S. because of a "slowly developing" La Niña pattern. CBS News Sacramento meteorologist Tracy Humphrey reports on the changing winter conditions.
Emperor penguin found on Australian beach released at sea after 20 days of care
The only emperor penguin known to have swum from Antarctica to Australia was released at sea 20 days after he waddled ashore on a popular tourist beach.
Iceland volcano flares in region's 7th eruption in one year
A volcano erupted in southern Iceland, near the town of Grindavík and the Blue Lagoon spa, marking the region's seventh eruption in a year.
How collecting pine cones helps renew Oregon forests after wildfires
Conservationists are teaming up with the U.S. Forest Service and logging companies to clear scorched land and make room for new reforestation projects.
Restoring forests decimated by wildfires
Large wildfires fueled by climate change have destroyed tens of millions of acres of forests in the Pacific Northwest in recent years. Jonathan Vigliotti explores a major effort underway to restore those forests.
Crime
More Crime
$20 million settlement reached in death of woman fatally shot by officer
Teresa Gomez, 45, was fatally shot in 2023 after a Las Cruces police officer on a bicycle approached her while she sat in a parked car with another person, authorities said.
Police chief kills himself as troops close in to arrest him in Mexico
The police chief killed himself with his own weapon as marines, National Guard and soldiers closed in to try to arrest him, prosecutors said.
U.S. accuses former Colombia general of extrajudicial killings
Former general Mario Montoya and his family are barred from traveling to the U.S., Secretary of State Antony Blinken said.
4.78 tons of cocaine, $193,000 in cash found in shipping containers
Prosecutors said eight people were detained following searches carried out in Belgium and the Netherlands earlier this month.
84-year-old Texas man accused of killing roommate and her dog
The man was arrested on an unrelated carjacking warrant and admitted to killing his roommate and her pet.
Space
More Space
Blue Origin launches 6 tourists to the edge of space
Marc and Sharon Hagle, both making their second space flight, were among the passengers for the NS-28 mission.
Blue Origin launches 9th space tourism flight
The ninth Blue Origin space tourism flight launched from West Texas Friday morning. CBS News space consultant Bill Harwood and space expert Scott Heidler offered analysis of the flight.
Trump, Musk attend SpaceX launch
President-elect Donald Trump attended SpaceX's sixth flight test of its Super Heavy-Starship on Tuesday with CEO Elon Musk. The burgeoning friendship between the two men played a key role in Trump's reelection, with Musk now set to run a government efficiency agency in the coming months. CBS News political reporter Jake Rosen and Politico aviation reporter Oriana Pawlyk join "America Decides" with more.
SpaceX launches Super Heavy-Starship, with Trump there to watch
President-elect Donald Trump was on hand with Elon Musk for the sixth test flight of SpaceX's huge Super Heavy-Starship rocket.
Far side of the moon once had erupting volcanoes, lunar soil shows
Researchers analyzed lunar soil brought back by China's Chang'e-6, the first spacecraft to return with a haul of rocks and dirt from the little-explored far side.
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.
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.
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.
Evidence in "The Dexter Killer" case
A look at the evidence in "The Dexter Killer" case; plus, newly revealed letters from the man police say wanted to be like fictional serial killer Dexter Morgan.
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
More Latest CBS News Videos
Latest CBS News Videos
The Coward Brothers perform "Early Shirley"
The Coward Brothers — better known as Elvis Costello and T Bone Burnett — began playing together more than 40 years ago, but until this week, the duo hadn't released any new music since 2006. Now, their new, self-titled album is earning critical acclaim. Now, from "The Coward Brothers," here are the Coward Brothers with "Early Shirley."
The Coward Brothers on new album
The Coward Brothers — better known as Elvis Costello and T Bone Burnett — began playing together more than 40 years ago, but until this week, the duo hadn't released any new music since 2006. Now, their new, self-titled album is earning critical acclaim. The pair opened up to CBS Saturday Morning about their fictional personas and that long hiatus earlier this week.
The Coward Brothers perform "Tipsy Woman"
The Coward Brothers — better known as Elvis Costello and T Bone Burnett — began playing together more than 40 years ago, but until this week, the duo hadn't released any new music since 2006. Now, their new, self-titled album is earning critical acclaim. Now, from "The Coward Brothers," here are the Coward Brothers with "Tipsy Woman."
Behind the wheel of priceless car collection
This morning, we travel to Los Angeles to explore an American entrepreneur's priceless car collection. It's a thing of beauty fittingly built by a cosmetics empire — and the collection is now so large it can't fit under one roof.
The Dish: Andrew Zimmern
Today in a special Thanksgiving edition of the Dish, Dana Jacobson sits down with chef, cookbook author and social activist Andrew Zimmern. He's made a name for himself with his activist persona and versatile cooking, earning recognition and awards — including an Emmy. But when it comes to Thanksgiving, Zimmern takes time to reflect on the darker times of his life — and celebrates where he is now.