Stocks sink while oil soars after US and allies consider banning Russian oil
CNN
Stocks are tumbling Monday as oil prices are soaring to the highest level in 13 years, raising fears about a further spike in inflation that could damage the global economy.
In Asia, Hong Kong's Hang Seng Index (HSI) sank as much as 5% in morning trading. It was last down 3.4%, on track to log its worst daily drop in seven months. Japan's Nikkei 225 (N225) tumbled 3.6%. South Korea's Kospi (KOSPI) dropped 2.5%. China's Shanghai Composite (SHCOMP) lost 1%.
On the US market, Dow futures fell 450 points, or 1.3%. S&P 500 and Nasdaq futures were down 1.6% and 2% respectively.
Gorilla at Calgary Zoo died after worker mistakenly activated wrong door, zoo officials say
President-elect Donald Trump is expected to offer Kelly Loeffler the job as of secretary of the Department of Agriculture, two people familiar with the matter told CNN.
Former Florida Rep. Matt Gaetz, who withdrew from consideration as President-elect Donald Trump’s pick for attorney general on Thursday, said Friday he will not be returning to Congress next year.
Republican Dave McCormick will defeat Pennsylvania Sen. Bob Casey, CNN projects, boosting the GOP majority in the Senate next year.
The judge overseeing Donald Trump’s criminal hush money trial has adjourned his sentencing which was set for next week.
In the aftermath of the 2024 elections, Democrats are less optimistic about their party’s future than they’ve been at any point in the past eight years, according to new Pew Research Center polling released Friday.
After recent burglaries at homes of professional athletes – including Kansas City Chiefs stars Patrick Mahomes and Travis Kelce – the NFL and NBA have issued security memos to teams and players warning that “organized and skilled groups” are increasingly targeting players’ residences for such crimes.
Laken Riley’s name was heard in court countless times and repeated by politicians around the country who described her brutal killing. But to those who really knew her, she was much more than a victim.
Hungry bears broke into a storage room at Joint Base Elmendorf-Richardson to feast on the military rations.
A man convicted in the 1994 killing of a female hitchhiker in Alabama was put to death Thursday evening in the nation’s third execution using nitrogen gas.
President-elect Donald Trump is considering shaking up the leadership at the FBI by firing the director and installing an experienced former agent and MAGA loyalist in the top two roles.