Dow drops 1,000 points as Trump renews criticism of Federal Reserve Chair Jerome Powell
CBSN
Stocks fell sharply on Monday as Wall Street returned from a shortened trading week and President Trump renewed his criticism of Federal Reserve Chair Jerome Powell, branding him as a "major loser."
The S&P 500 fell 152 points, or 2.9%, to 5,130 in early trading, while the Dow Jones Industrial Average tumbled 1,071 points, or 2.7%. The tech-heavy Nasdaq Composite sank even more sharply, dropping 3.2%.
Stocks were down as investors grapple with ongoing tariff uncertainty and await the release of U.S. tech companies earnings this week.
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The military said Monday it is mobilizing another 2,000 members of the California National Guard to respond to protests in Los Angeles, joining thousands of National Guard and hundreds of Marine Corps personnel already assigned to the city.
Some of the victims of the U.S. Capitol siege are angry about the Trump administration's public statements and response to this weekend's unrest in Los Angeles, accusing top officials and the president of hypocrisy. They point to the stark difference between the aggressive response of the president and his top aides against those who allegedly assaulted police in Los Angeles, compared to their staunch defense of those who admitted beating and gassing police on Jan. 6. The disparity risks inflaming the already heated controversy in California.
A woman accused of aiding in the jailbreak at the Orleans Parish Prison in New Orleans last month was arrested on Monday, authorities said.
In April 1975, during the chaotic final days of the Vietnam War, there were some 3,000 babies in the country that had been fathered by U.S. servicemen.
Washington — House Homeland Security Committee Chairman Mark Green, a Tennessee Republican, announced Monday that he plans to resign after Congress passes President Trump's budget bill.
Washington — President Trump signed a memorandum over the weekend deploying the National Guard to, as he says, protect federal immigration officials and other federal law enforcement in Los Angeles amid heated protests over immigration raids, citing Title 10 of the federal code.
The dream of homeownership is fading for millions of Americans.
Four executions are expected to take place in the United States this week, with two scheduled Tuesday and one each on Thursday and Friday.
Clashes between federal agents and protesters in Los Angeles escalated Sunday as the demonstrations against immigration detention operations stretched into their third day and National Guard troops began arriving in the city under orders from President Trump. Here's a timeline of how the protests unfolded in multiple locations around L.A.
Washington — Oklahoma's attorney general said Monday that the state plans to retry inmate Richard Glossip for the murder of his boss after the Supreme Court earlier this year granted him a new trial, but will not seek the death penalty against him.
Justin Baldoni's $400 million lawsuit against his "It Ends With Us" co-star Blake Lively and her husband, Ryan Reynolds, was dismissed by a federal judge on Monday, according to court documents.
Washington — It's June, and for the Supreme Court, that means the justices will spend the coming days and weeks releasing a flurry of opinions as they prepare for a summer recess before the start of their new term in October.
As tensions escalate between California and the Trump administration over immigration, another potential battlefront is emerging over taxes.