Stocks nosedive as investors fret over signs of U.S. economic slowdown
CBSN
Stocks tumbled after fresh economic signals raised concerns about the outlook for U.S. growth.
The Department of Labor on Thursday released data showing that initial claims for unemployment benefits rose to 249,000 last week, topping analyst forecasts and reaching the highest level since August of 2023. Although layoffs around the country remain modest, some investors worry that the recent jump in jobless claims could be a prelude to a sharper drop in payrolls later this year.
New purchasing managers data also shows that manufacturers are weakening as they grapple with higher interest rates, while a growing number of companies reporting corporate earnings are pointing to softer consumer spending.
Washington — The Supreme Court on Wednesday allowed Virginia to move forward with its removal of roughly 1,600 alleged noncitizens from its voter rolls just days before the 2024 election.
The U.S. economy grew at a 2.8% annual pace last quarter as consumers continued to open their wallets despite elevated interest rates.
Hollywood's latest hits are setting this year's Halloween costume trends.
A journalist was shot dead Tuesday night in western Mexico, a local prosecutor's office said, in a part of the country hit hard by drug cartel violence.
A New York woman has a beef with restaurant chain Subway.
Vice President Kamala Harris and former President Donald Trump have different stances on health care policy in America, although in the 2024 presidential election, health care has not played as prominent a role in the campaign as it did in 2016 or even in 2020. In those campaigns those on the left proposed a radical overhaul of Obamacare, while Republicans sought to repeal it.
In a tight presidential race in which Americans cite the state of the economy as the most important issue, one aspect of the country's performance could prove decisive: How voters in battleground states currently perceive inflation.
President Biden reinserted himself into the contentious campaign to succeed him, appearing to call former President Donald Trump's supporters "garbage" on a video call with Latino activists Tuesday evening. Republicans seized on the comments, while the White House offered a different explanation of what Mr. Biden said.
An Alabama man who left threatening phone messages for Fulton County District Attorney Fani Willis and the county sheriff last summer because he was angry over an investigation into former President Donald Trump was sentenced Tuesday to nearly two years in federal prison.
Washington — Vice President Kamala Harris on Tuesday night will deliver her closing argument against former President Donald Trump at the same site he encouraged his supporters to "fight like hell" on Jan. 6, 2021, before they marched to the U.S. Capitol and tried unsuccessfully to halt the certification of President Biden's victory.
A Brazilian au pair who fell in love with an IRS agent pleaded guilty to manslaughter on Tuesday in what prosecutors say was an elaborate double-murder scheme to frame another man in the stabbing of his wife.