Hong Kong stocks hit an 11-year low after historic Fed rate hike
CNN
Hong Kong stocks hit their lowest level in more than a decade Thursday and other Asian markets also fell after the US Federal Reserve raised rates by 75 basis points and forecast even more hikes ahead, fueling concerns about a recession.
The Hang Seng Index (HSI) fell as much as 2.6%, breaking below 18,000 points, before recovering slightly. By 3.30 a.m ET it was trading down 2% at 18,079, its lowest level since December 2011. Australia's S&P/ASX 200 index fell 1.6%, while Japan's Nikkei 225 (N225) and South Korea's Kospi both fell 0.6%. China's Shanghai Composite Index (SHCOMP) slipped 0.3%.
The falls came after the Federal Reserve on Wednesday approved a third consecutive 75-basis-point hike in an aggressive move to tackle white-hot inflation that has been plaguing the US economy.
Democrats in Florida are hoping to capitalize on the party’s recent special election overperformances and come out on top Tuesday in a special state House election for a Palm Beach district that includes President Donald Trump’s Mar-a-Lago residence.
The Supreme Court on Monday appeared ready to limit mail-in ballots, a move that would reinforce the justices’ pattern of shrinking voter protections and that has, at bottom, favored Republican interests and the Trump administration.
An Air Canada plane traveling from Montreal collided with an emergency vehicle on the runway at New York City’s LaGuardia Airport in the late hours of Sunday night, killing two pilots and injuring dozens of people.
Top Senate Republicans on Capitol Hill believe their party is unified behind a plan to reopen the Department of Homeland Security. Now, they need to sell the plan to Democrats.
Markwayne Mullin will serve as Donald Trump’s next Department of Homeland Security secretary, elevating the US senator to helm the agency at the center of the president’s controversial immigration enforcement effort and an ongoing shutdown.
President Donald Trump’s sudden turnabout and, according to him, rapidly advancing peace talks made for an abrupt shift in the administration’s approach to the Iran war.
The Supreme Court’s conservative majority appeared dubious of state laws that allow the counting of mail ballots that arrive at election offices after Election Day as justices heard oral arguments in a challenge to Mississippi’s five-day grace period for mail ballots.
The chief district judge in New Jersey appointed Robert Frazer, a career prosecutor, to serve as US attorney for the state, ending for now a dispute over the legality of the office’s leadership that threatened to derail criminal investigations.
Tens of thousands of taxpayer dollars were spent on expenses for hair and makeup artists and a horse for the advertisement showcasing outgoing Department of Homeland Security Secretary Kristi Noem in front of Mount Rushmore, according to invoices seen by CNN.
President Donald Trump was presented Sunday with a potential off-ramp to the more than month-long Department of Homeland Security shutdown: fund every part of the department except enforcement operations by Immigration and Customs Enforcement, two sources familiar with the conversations told CNN.
Immigration and Customs Enforcement agents are heading to 13 airports today to help with crowd management as travelers at some airports wait in hours-long security lines amid the DHS shutdown. Follow here for the latest.
A consortium of the nation’s top architectural and historic preservation groups is targeting President Donald Trump’s plans to temporarily close and extensively renovate the Kennedy Center, filing a new lawsuit Monday that asks a federal judge to indefinitely halt the project.
ICE agents sent to airports as TSA callouts remain high; separately, two people have died after a plane collided with a fire truck at New York’s second biggest airport. Follow for live updates