Hong Kong stocks hit an 11-year low after historic Fed rate hike
CNN
Hong Kong stocks hit their lowest level in more than a decade Thursday and other Asian markets also fell after the US Federal Reserve raised rates by 75 basis points and forecast even more hikes ahead, fueling concerns about a recession.
The Hang Seng Index (HSI) fell as much as 2.6%, breaking below 18,000 points, before recovering slightly. By 3.30 a.m ET it was trading down 2% at 18,079, its lowest level since December 2011. Australia's S&P/ASX 200 index fell 1.6%, while Japan's Nikkei 225 (N225) and South Korea's Kospi both fell 0.6%. China's Shanghai Composite Index (SHCOMP) slipped 0.3%.
The falls came after the Federal Reserve on Wednesday approved a third consecutive 75-basis-point hike in an aggressive move to tackle white-hot inflation that has been plaguing the US economy.
The Supreme Court on Monday will grapple with President Donald Trump’s power to capture control of independent agencies in an important case that could reshape large swaths of the federal government and unwind a precedent that has been on the books since Franklin D. Roosevelt was in the White House.
President Donald Trump took center stage at the Kennedy Center for the Performing Arts on Sunday evening to pay tribute to the newest class of honorees, a group of performers and entertainers whose combined work spans music, stage and film.
GOP Rep. Marjorie Taylor Greene stood defiant in her first interview since announcing her resignation from Congress, making clear she’s not afraid to speak out on the issues that made President Donald Trump “furious” with her, including her support for releasing all files related to accused sex trafficker Jeffrey Epstein.
In a wide-ranging interview with CNN’s Manu Raju for “Inside Politics Sunday,” Fitzpatrick leaned into areas where he broke sharply with his party’s leaders, including his desire to find a healthcare compromise, staunch commitment to defending Ukraine and past votes against advancing major pieces of President Donald Trump’s agenda.
Survivors of the 1941 Japanese bombing of Pearl Harbor have long been the center of a remembrance ceremony held each year on the military base’s waterfront.
When President Donald Trump has been asked about the reason he’s pressuring President Nicolás Maduro to step down and threatening military action, he consistently blames the leader of Venezuela for two things: drugs and migrants.
Jasmine Crockett has two cashier’s checks made out to use on Monday: one to submit if she files for reelection for her US House seat, the other to jump into the already competitive Texas Democratic primary for US Senate.
A federal judge on Saturday temporarily locked down the Justice Department’s access to some evidence used in its criminal case against former FBI Director James Comey, just as the Trump administration prepares to seek a new indictment after the dismissal of previous charges early last week.
One person was seriously injured after being stabbed Friday on Charlotte’s LYNX Blue Line, the same route where the fatal stabbing of a Ukrainian refugee took place months earlier.
Maduro has survived predictions and ridicule, but along the way, Venezuela lost millions of inhabitants, 72% of its economy, democratic legitimacy in the eyes of much of the world, and many of its most important international allies.
The Trump Administration has let Southwest Airlines off the hook for paying the remainder of a fine for the airline’s 2022 holiday travel meltdown – a service disruption that left more than 2 million passengers stranded.
The Trump administration is expected to deport dozens of Iranians back to their home country on Sunday, a source familiar with the matter told CNN.
Defense Secretary Pete Hegseth on Saturday defended the Trump administration’s military actions against alleged drug boats in the Caribbean, saying it shows “the strength of American resolve.”