Stocks slump as inflation remains stubbornly high
CBSN
U.S. markets fell sharply in opening trading Thursday after an unexpectedly hot inflation report strengthened the Federal Reserve's position on the need for more aggressive interest rate hikes.
The S&P 500 dropped 63 points, or 1.8%, to 3,513, as of 9:49 a.m. Eastern time. The Dow Jones Industrial Average fell 413 points, or 1.4%, and the Nasdaq composites sank 2.4%.
The S&P 500 is down 26% this year and close to a two-year low.
New York's La Guardia Airport was closed late Sunday night after an arriving Air Canada Express plane and ground vehicle collided, according to flight tracking service FlightRadar24.
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We share our planet with maybe 10 million species of plants, animals, birds, fish, fungi and bugs. And to help identify them, millions of people are using a free phone app. "Currently we have about six million people using the platform every month," said Scott Loarie, the executive director of iNaturalist, a nonprofit.
Washington — As voters gear up for the midterm elections in November that will decide control of the House and Senate, the Supreme Court is set to weigh Monday whether states can count mail ballots that are postmarked by, but arrive after, Election Day.
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