Dow drops more than 500 points amid Fed, Delta variant jitters
CBSN
Benchmark U.S. stock indexes opened sharply lower on Monday as investors assessed a bevy of risks, including a possible shift in Federal Reserve guidance this week that could hurt corporate profits.
The Dow Jones Industrial Average dropped more than 500 points, or 1.5%, shortly after the start of trade, while the broader S&P 500 fell 1.5% and technology-heavy Nasdaq sank 1.8%. The decline extends a slide for Wall Street this month, with the S&P 500 losing nearly 1% last week.
Although September is historically a weak month for stocks, a range of factors is weighing on market sentiment. Investors remain concerned that the latest COVID-19 wave could slow economic growth, while also keeping a close eye a push by congressional Democrats to raise taxes on wealthy Americans and on big corporations. Fear is also mounting that Evergrande Group, a major Chinese property developer, could default on its debt and trigger a financial crisis.
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A former local mafia boss died Wednesday after he was shot in his car in the middle of a busy highway near the French city of Grenoble, local authorities and sources close to the case told French news agency AFP.
The Social Security Administration could soon lose as many as 10,000 workers, according to former agency leaders who expect a large portion of federal workers to accept a buyout offer from the agency.
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Washington — Democratic Rep. Raúl Grijalva of Arizona died Thursday morning after "a long and brave battle" against cancer, according to his office.
Dollar General has a particularly clear view into the pocketbooks of low-income Americans, given those shoppers are the discount retailer's core customer base. And some are so financially pinched they can no longer afford basic necessities, the chain relayed on Thursday.
President Trump has made a number of inaccurate claims about Canada in the past week as he imposed new tariff hikes on the country and touted his plans for more.
Those who glance up at the sky tonight will have an opportunity to catch the March 2025 "Blood Moon," a phenomenon that colors the full moon in shades of red, orange and yellow during a total lunar eclipse.
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The Federal Trade Commission asked a federal judge on Wednesday to delay a trial in a case accusing Amazon of using deceptive practices in its Prime subscription program, citing staffing and budgetary challenges at the government agency.
Oliver Miller, a beefy center who helped Arkansas advance to the Final Four before playing nine seasons in the NBA, has died. He was 54.
Nevada prosecutors say 20 people have been charged in connection with a brawl at a maximum-security prison in eastern Nevada last year in which three inmates were killed and others were injured.