Stock market drops a day after huge gains on tariff pause announcement
CBSN
Wall Street gave back some of the historic gains made a day earlier when President Donald Trump paused his latest tariff hikes on U.S. trading partners, with the exception of China.
In morning trade on Thursday, the S&P 500 was down 126 points, or 2.3%, to 5,331, while the Dow Jones Industrial Average dropped 869 points, or 2.1%. The tech-heavy Nasdaq fell 3%.
It's been a wild couple of weeks on Wall Street with Mr. Trump's tariff announcements, reversals and retaliation from U.S. trading partners. That volatility seems unlikely to change in the coming weeks with the U.S. and China still locked in a tit-for-tat tariff battle and earnings season kicking off on Friday with the latest results from some of the nation's biggest banks.
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A Tennessee judge on Sunday ordered the release of Kilmar Abrego Garcia, whose mistaken deportation has become a flashpoint in President Trump's immigration crackdown, while he awaits a federal trial on human smuggling charges. But he is not expected to be allowed to go free.
A 27-year-old bride was killed when gunmen attacked a wedding party in a village in southeastern France, with one of the assailants also dying during the assault, prosecutors said on Sunday.
On this "Face the Nation with Margaret Brennan" broadcast:
The following is the transcript of an interview with retired Gen. Frank McKenzie that aired on "Face the Nation with Margaret Brennan" on June 22, 2025.
The following is the transcript of an interview with Democratic Sen. Tim Kaine of Virginia that aired on "Face the Nation with Margaret Brennan" on June 22, 2025.
A bulletin from the National Terrorism Advisory System warns of a "heightened threat environment in the United States" following the U.S. military strikes on Iran's nuclear sites.
Secretary of Defense Pete Hegseth is set to hold a news conference Sunday to give updates following President Trump's decision to strike a trio of Iranian nuclear sites Saturday evening.
Jane Dorotik has spent two decades fighting for her freedom. The California mother and wife was convicted of murdering her husband Bob in 2001, but always maintained her innocence.
This story previously aired on July 3, 2021. It was updated on June 17, 2025. NEWS REPORTS: The brutal murder of the Pelley family … Shot to death in their home Sunday morning … It thrust a small town into the national spotlight ... DET. BOTICH [ interrogation]: So. do you know who killed your mother and father, or your father and stepmother? DET. BOTICH [interrogation]: Did you have anything to do with it? NEWS REPORT: Tuesday lawyers laid out their cases to the jury in opening statements. NEWS REPORT: After calling more than 50 witnesses, prosecutors say all the facts point to Jeff Pelley. NEWS REPORT: The prosecutor started his closing argument letting the jury know it was his burden to prove the case. NEWS REPORT: But now the burden of deciding Jeff Pelley's fate is theirs. NEWS REPORT: One of Pelley's lawyers says his client is under a lot of stress now that the jury has the case.
Washington — President Trump said he would address the nation Saturday at 10 p.m. ET on the U.S. strikes on Iran. Mr. Trump announced earlier on social media that the U.S. had launched strikes against three Iranian nuclear sites.
Belarus freed top opposition figure Sergei Tikhanovsky and more than a dozen other political prisoners Saturday following an appeal from the White House, Tsikhanouskaya's team announced on Saturday, a sign of warming ties between Washington and Belarus-ally Moscow.
Former Texas Rep. Blake Farenthold, who left Congress amid sexual harassment allegations, dies at 63
Former Rep. Blake Farenthold, who left Congress amid sexual harassment allegations, has died. He was 63.
Multiple batches of chocolate nonpareils produced by Weaver Nut Company, Inc. and sold across the U.S. have been recalled due to potential undeclared milk allergens, the Food and Drug Administration announced earlier this week.