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Stocks fall on Wall Street as inflation fears continue to grip investors
CBSN
Stocks fell in afternoon trading on Wall Street Tuesday as the broader market remains gripped by uncertainty over pervasive inflation, rising interest rates and the potential for a recession.
The S&P 500 slipped 66 points to 3,834, or 1.7% as of 2:52 p.m. Eastern time. The Dow Jones Industrial Average fell 400 points, or 1.3%, to 31,038 and the tech-heavy Nasdaq fell 2.6%.
The Conference Board reported that consumer confidence fell in June to its lowest level in more than a year, driven largely by concerns over inflation including rising prices for gas and food. The results were also much weaker than economists expected.
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West Palm Beach, Florida — Former President Donald Trump Friday night celebrated his 78th birthday in a packed Palm Beach Convention Center filled with supporters — including Republican Sen. Marco Rubio — while he continued his familiar attack lines on President Biden regarding immigration and foreign policy.
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Biden preparing to offer legal status to undocumented immigrants who have lived in U.S. for 10 years
The Biden administration is making plans to announce one of the largest immigration relief programs in recent history, developing a policy that would offer legal status to hundreds of thousands of immigrants living in the country without proper documents, four people familiar with the plans told CBS News.
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Buried in the cellar of George Washington's Mount Vernon home, a treasure trove was waiting to be discovered – an enormous amount of preserved cherries. Archaeologists discovered 35 glass bottles with cherries, Mount Vernon officials announced on Thursday, just a few weeks after two bottles were found in April.
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As director of the National Institute of Allergy and Infectious Diseases, Dr. Anthony Fauci helped lead the U.S. government's fight against the COVID-19 pandemic. In a wide-ranging interview with CBS News chief medical correspondent Dr. Jonathan LaPook for "CBS News Sunday Morning," Dr. Fauci reveals he was offered millions of dollars to leave his top spot in government to join major corporations.