Stocks slump after report showing sharp drop in U.S. hiring
CBSN
Fear, long absent in financial markets as investors bet on a soft landing for the U.S. economy, is back in the air on Wall Street.
Stocks opened sharply lower Friday after new government data showed a steep decline in hiring in July, spurring concerns that economic activity is slowing faster than economists expected.
Shortly after the start of trade, the blue-chip Dow Jones Industrial Average slid 461 points, or 1.1%, to 39,887. The broader S&P 500 sank 1.2%, while the tech-heavy Nasdaq Composite lost 2%, fueled by disappointing quarterly earnings from bellwethers such as Amazon and Intel.
Abu Dhabi, United Arab Emirates — President Trump said Friday that he's moving to set up direct talks with Russian President Vladimir Putin as soon as he can, after Putin opted to skip peace talks between Russia and Ukraine in Turkey.
Charter Communications has agreed to merge with Cox Communications in a $34.5 billion deal that will combine two of the top three cable companies in the U.S.
President Trump on Friday said his administration will send letters that inform other nations of the tariff rates the U.S. will impose on imports, adding that "it's not possible to meet the number of people that want to see us."
Apple has blocked access to the online game Fortnite on iPhone devices in the United States and the European Union, according to the video game maker.
Horse racing excitement is set to continue on Saturday night when the second part of the Triple Crown launches at Pimlico Race Course in Baltimore, Maryland. The Preakness Stakes, also known as the annual run for the Black-Eyed Susans, comes just two weeks after the season kicked off with the Kentucky Derby.
The judge overseeing Bryan Kohberger's upcoming quadruple-murder trial says he wants to identify anyone who may have violated a gag order by leaking information from the investigation to news organizations or anyone else not directly involved with the case.
Washington — House Republicans have yet to resolve several major disputes that threaten to derail President Trump's domestic policy bill as more conservative members and blue-state Republicans dig in on their demands.
The Preakness Stakes has a field of nine horses set to race in Baltimore on Saturday for the 2025 running of the middle jewel of horse racing's Triple Crown.
An undocumented immigrant who resides in Florida is facing a more than $1.82 million fine for failing to leave the country after receiving a removal order 20 years ago, CBS News has learned.
Former FBI Director James Comey has provoked an outcry from the Trump administration after he briefly posted a photo to Instagram that federal officials alleged was a call for violence against President Trump — a claim Comey pushed back on.
Increasingly, when lawyers take divisive political issues to court, they seek out federal jurisdictions where they hope to find judges sympathetic to their worldview. This phenomenon, known as venue shopping, has been employed by both sides of the political aisle, according to a new CBS News analysis of federal court data for cases seeking nationwide impact.
The Federal Emergency Management Agency is "not ready" for hurricane season in June, according to an internal review obtained by CBS News— as FEMA contends with staff cuts and a push by President Trump to eliminate the nation's disaster relief agency.
A pregnant woman in Georgia who was declared brain dead after a medical emergency has been on life support for three months to let the fetus grow enough to be delivered, a move her family says a hospital told them was required under the state's strict anti-abortion law.