Stocks fall on prospect of Fed rate hikes in 2022
CBSN
Stocks were broadly lower Friday after a Federal Reserve official said that the nation's central bank might need to raise interest rates as early as next year, sooner than the Fed's latest estimate of possible rate increases in 2023.
The S&P 500 index fell 0.8% as of 1:12 p.m. EST. Every sector in the benchmark index fell, with the largest declines coming from banks and technology companies. The Dow Jones Industrial Average fell 397 points, or 1.2%, to 33,425 and the Nasdaq Composite was down 0.5%. The S&P 500 is on pace to end the week down 1.4% while the Dow is down more than 3%. The Nasdaq is holding onto a slight gain for the week.
Washington — The Supreme Court on Friday said it will consider the constitutionality of the Federal Communications Commission's Universal Service Fund, agreeing to review a lower court decision that upended the mechanism for funding programs that provide communications services to rural areas, low-income communities and schools, libraries and hospitals.
Just a week before Thanksgiving, shoppers at Stop & Shop stores across Massachusetts were forced to leave empty-handed after a cyberattack against the supermarket chain's parent company led to inventory shortages.
For the last seven years, Brazilian soccer legend Marta dreamed of playing in a National Women's Soccer League championship game.
Former Rep. Matt Gaetz of Florida says he doesn't intend to return to Congress in January, after resigning from his seat and withdrawing from consideration as U.S. attorney general.
The United States on Friday announced sanctions against a former Colombian general it said was involved in extrajudicial killings of civilians falsely reported as combat deaths.
Jeff Bezos' Blue Origin launched six space tourists on a high-speed dash to the edge of space and back Friday, giving the passengers — including a husband and wife making their second flight — about three minutes of weightlessness and an out-of-this world view before the capsule made a parachute descent to touchdown at the company's west Texas flight facility.
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Organic carrots and celery sold at Whole Foods Market in five states are being recalled amid a deadly E. coli outbreak that has stricken 39 people in 18 states.
It's well-documented that women in the workplace often face biases when seeking leadership roles, but new research is uncovering just how pervasive and wide-ranging those prejudices can be.
President-elect Donald Trump's sentencing for his May criminal conviction has once again been delayed, a judge ruled Friday.
Washington — The Supreme Court on Friday dismissed Facebook's appeal of a lower court order reviving a shareholder lawsuit brought against the social media giant in light of consulting firm Cambridge Analytica's 2015 misuse of millions of Facebook users' data.