Wall Street tumbles on fears about Trump's "Liberation Day" tariff announcement
CBSN
Wall Street tumbled on Monday ahead of President Trump's plans to announce more tariffs on April 2, which he he's dubbed "Liberation Day," because the new reciprocal tariffs, he says, will restore trade balances between the U.S. and other nations.
But investors are cautious about the impact of a round of new tariffs, which are import fees that are largely passed onto U.S. consumers in the form of higher prices. Consumer confidence this month slumped to a 12-year low as more Americans are expressing concerns about tariffs and a pick-up in inflation.
The Dow Jones Industrial Average slumped 403 points, or about 1%, to 41,181 in early Monday trading, while the broad-based S&P 500 index shed 1.6%. The tech-heavy Nasdaq composite index skidded 2.5%.
Run 3 Space | Play Space Running Game
Traffic Jam 3D | Online Racing Game
Duck Hunt | Play Old Classic Game
A plane carrying six people crashed in an open field near Copake, N.Y., Saturday, according to the Federal Aviation Administration.
This story previously aired on June 15, 2024.It was updated on April 12, 2025.
The Trump administration confirmed to a federal judge that the Maryland man mistakenly deported last month is "alive and secure" but remains confined in a notorious El Salvador prison.
A fintech startup that raised $40 million based on the premise of its artificial intelligence capabilities was fueled by human labor, allegedly defrauding investors lured by the new technology of millions, federal prosecutors said this week in a statement.
The University of Florida has joined the list of higher education institutions in that state partnering with U.S. Immigration and Customs Enforcement (ICE) to carry out immigration enforcement on campus, officials told CBS News on Saturday.
The Masters has raised its prize money by $1 million for this year, making the total purse $21 million with $4.2 million going to the winner.
The Trump administration plans to release new documents on former Sen. Robert F. Kennedy's 1968 assassination in the coming days, Director of National Intelligence Tulsi Gabbard said Thursday, bringing fresh attention to a killing that has drawn public fascination for decades.
WASHINGTON — An American intelligence assessment of the Ecuadorian presidential election, set for Sunday, concluded that a reelection of the incumbent president would better serve U.S. national security interests over the challenger. The assessment comes as the Trump administration mulls establishing a permanent U.S. military presence in the South American country, once known as the "island of peace," to help battle violent gangs, CBS News has learned.
President Trump on Friday night authorized the military to take control of a strip of public land along the southern border.
The Food and Drug Administration is finalizing plans to replace some of the employees it laid off with contractors, three FDA officials tell CBS News, after steep cuts to the agency's workforce disrupted drug and food safety inspections.
A firing squad on Friday executed a South Carolina man who killed an off-duty police officer, the second time the rare execution method has been used by the state in the past five weeks.
Police in Georgia and Florida caught a convicted killer who was mistakenly released about two weeks ago from a county jail south of Atlanta, the U.S. Marshals Service said Friday.
All sense of survivors' guilt was fleeting for those residents whose homes remained standing after wildfires ripped through the Los Angeles area three months ago.