Stocks slide as investors assess potential impact of U.S. government shutdown
CBSN
Technology companies led a broad sell-off in stocks on Wall Street Tuesday, with investors assessing the impact of inflation and a political standoff in Washington that could trigger a government shutdown later this week.
After falling more than 2% earlier in the session, the S&P 500 stock index was down 69 points, or 1.5%, to 4,379 points an hour before the close of trading. The Dow fell 461 points, or 1.3%, and the tech-heavy Nasdaq composite slid 2.4%.
Brian Price, head of investment management for Commonwealth Financial Network, said in an email that "increased expectations for inflation driven by the significant increase in energy prices has caused longer term interest rates to surge in a short period of time."
Best Buy CEO Corie Barry said Tuesday that personal electronics could become more expensive if President-elect Donald Trump carries out his threat to slap new tariffs on foreign goods, as large retailers scramble to assess the potential impact of the proposed levies on their business.
A California man who prosecutors alleged lied to federal agents and pushed fake criminal allegations against President Biden and his son Hunter now faces new charges of tax evasion from special counsel David Weiss, according to court records.
NEW YORK - Former New York City Mayor Rudy Giuliani appeared in court Tuesday to face questions about his payments in the Georgia election defamation case.
Child care in the U.S. today can cost more than families pay for rent, a mortgage or college tuition
The soaring cost of child care in the U.S. can now exceed what families pay for housing or college.
Americans say they're most grateful for friends and family this year.
Mexico suggests it could retaliate with tariffs after Trump threat: "There is no subordination here"
President Claudia Sheinbaum suggested Tuesday that Mexico could retaliate ———with tariffs of its own, after U.S. President-elect Donald Trump threatened to impose 25% import duties on Mexican goods if the country doesn't stop the flow of drugs and migrants across the border.
Walmart's decision to roll back some of its diversity, equity and inclusion policies nationwide are designed to "ensure every customer, every associate" feels welcome and like they belong, according to John Furner, president and CEO of Walmart U.S.
Captain Ed Evans began his day well before dawn, preparing Southwest flight 8921 for a nearly 19-hour journey. The year-old Boeing 737 MAX8 flew over 4,000 miles, traveling from Baltimore to Denver, Long Beach, Reno, Las Vegas, Sacramento and back to Las Vegas.
Tom Homan, selected by President-elect Donald Trump to be the "border czar" in the new administration, is traveling Tuesday to the U.S.-Mexico border with Texas Gov. Greg Abbott, Abbott's office said.
A special agent at the Federal Bureau of Investigation has been charged with sexually assaulting two women, according to police and court records. The agent, Eduardo Valdivia, was previously acquitted of attempted murder for shooting a man on a Metro subway train near Washington, D.C., four years ago. He was arrested in Maryland on Monday.
Married couples across the U.S. have had access to no-fault divorce for more than 50 years, an option many call crucial to supporting domestic abuse victims and key to preventing already crowded family courts from drowning in complicated divorce proceedings.