Why the stock market is freaking out again
CNN
Fear has set in on Wall Street, and stocks are having another miserable day.
Fear has set in on Wall Street, and stocks are having another miserable day. The Dow tumbled more than 1,000 points at the open, and the broader market plunged 3% Monday. The Nasdaq, full of risky tech stocks, dropped 3.7%. All of that comes amid a global market selloff. Japan’s Nikkei 225 index nosedived 12% — its worst rout in history. All major Asian and European markets fell substantially Monday. Three fears are emerging all at the same time to send markets into a tailspin Monday: Growing worries about a recession, concern that the Federal Reserve has failed to act promptly enough and a belief that big bets on AI may not pay off. The most prominent is fear that the US economy is in much worse shape than previously believed — evidenced by Friday’s unexpected jump in the unemployment rate. On Friday, the Bureau of Labor Statistics reported that the US economy added just 114,000 jobs in July — far fewer than expected — and the unemployment rate jumped to 4.3%. Although that’s not in and of itself an unhealthy unemployment rate, its sudden march higher is alarming: Last year, the unemployment rate was at its lowest level since the moon landing.
The lawsuit, set to be filed in federal court in Washington, DC, names the Defense Department, Defense Secretary Pete Hegseth and the chief Pentagon spokesman, Sean Parnell, as defendants.
The “CBS Evening News” needs a new anchor — and soon.
President Donald Trump is pushing for an extension of soon-to-expire enhanced Obamacare subsidies – a key Democratic demand that Republicans fought fiercely and that was the basis for the longest-ever government shutdown.
The biggest event in New Zealand Thursday may have been the opening of a furniture store.
Even if you believe you haven’t yet been directly impacted by climate change, your wallet will feel its effects soon, according to a new study.
Small businesses are “starting to crack” amid a weakening economy, rising inflation and fickle consumers; and they drove job losses in the US private sector in November, new data showed Wednesday.
Prepare for automotive sticker shock next year – again.
Constellation Brands, the US owner of Modelo Especial and Corona, bet big on Latino customers for growth. But that strategy is unraveling under the Trump administration’s mass deportation push.
The European Union agreed Wednesday to phase out Russian natural gas imports by late 2027 as part of an effort to end the bloc’s decade-long dependency on Russian energy.
US wireless carrier AT&T said in a letter to the US telecoms regulator that it had committed to ending diversity, equity and inclusion programs, a move that comes as it seeks approval from the Trump administration to buy wireless spectrum assets.
Larry Summers has been banned for life from the American Economic Association, a professional organization for economists, with more than 17,000 members, over his ties to the late sex offender Jeffrey Epstein.
The US labor market has weakened over the course of the year as hiring has stalled across many industries. The national unemployment rate has ratcheted higher in the process, hitting 4.4% in September.
Michael and Susan Dell are donating $6.25 billion to fund investment accounts for at least 25 million American children.