Stocks sink to new low for 2022 as recession fears mount
"The Fed isn't about to 'pivot' and there is more monetary tightening to come," said one analyst.
Watch CBS News
"The Fed isn't about to 'pivot' and there is more monetary tightening to come," said one analyst.
The 8.3 percent hike in the consumer price index is especially bad news for retirees living on fixed incomes.
Americans are now digging deeper into their wallets for everything from groceries to goods and services with no relief in sight. CBS2's Elijah Westbrook has more.
As CBS2's John Dias reports, there are a number of factors contributing to this key week for the state of the economy.
Some big developments in the business world could affect your finances at home. CBS2's John Dias has the details.
Many Americans are worrying about their retirement funds as stocks dropped drastically yesterday. CBS2's Elijah Westbrook has more on what this means.
Futures are higher this morning, but it follows more big losses Monday. CBS2's Elijah Westbrook has more on what it means for the average investor.
The DOW got off to a rough start Monday morning and didn't recover, CBS2's Tony Aiello reports.
Stocks claw back losses after flirting with the first bear market since early 2020.
U.S. stocks plunged on Monday as investors fretted over mounting inflation and geopolitical tensions.
U.S. stocks slumped on Monday as investors assessed a bevy of risks, including a possible shift in Federal Reserve guidance this week that could hurt corporate profits.
Does the huge drop in the Dow Jones and other indices mark the end of a historic run that dates back to the pandemic's early days?
The stock market has enjoyed unprecedented gains during the pandemic, with the strange, meteoric rise of GameStop among the highlights.
The stock market has enjoyed a historic rise, despite the pandemic and political upheaval, and looks poised to continue growing through 2021 and beyond.
The Dow Jones crossed the 30,000 threshold for the first time ever Tuesday, fueled by news that suggests a more stable economy in the near future.
The Dow jumped 5.3% in early trading, reaching a record high of 29,836. The S&P 500 rose more than 3%, while the Nasdaq added less than 1%.
Today's stock market gains come despite all the election uncertainty, but may suggest optimism for a second stimulus package down the line.
In an economy beset by pandemic-induced hardship, why is Wall Street thriving while Main Street is struggling?
There are new signs the road to reopening will be a bumpy ride for the economy.
The exchanges has been limited to all-electronic trading since March 23.
The stock market reacted positively to the recent record unemployment numbers, which suggests a strong economic comeback, but be wary.
Stocks surged Tuesday as investors weighed the Federal Reserve's vow to support key financial markets and prospects for a nearly $2 trillion relief bill in Congress to help soften the economic impact of the coronavirus.
U.S. stocks plunged so quickly today that trading was halted amid growing economic uncertainty over the coronavirus.
Fears of the virus are making stocks extremely volatile for the seventh day. At one point, the Dow was down nearly 1,000 points.
Global markets are now down for the sixth straight day, and experts say many investors are realizing the economic impact could be much worse than first thought.
The largest and longest nurses strike in New York City history could soon be over. A vote Wednesday on a tentative deal could have nurses returning to work within days.
The Federal Aviation Administration changed course and said flights would resume after halting all air traffic into and out of El Paso.
A public meeting was held on Tuesday night in Morris County, New Jersey, after shots were fired earlier in the day in Roxbury Townshp during an ICE operation.
Pascal Siakam scored 30 points and the Pacers snapped a four-game losing streak by holding off the Knicks with a 137-134 overtime victory on Tuesday night.
The suspected shooter was found dead in the school from a "self-inflicted injury," Canadian police said.
The largest and longest nurses strike in New York City history could soon be over. A vote Wednesday on a tentative deal could have nurses returning to work within days.
Edward R. Murrow High School's new boiler system cuts emissions while doubling as a hands-on sustainability lesson for students.
The Bronx will be divided into two patrol boroughs, Police Commissioner Jessica Tisch announced during her State of the NYPD address on Tuesday.
Majestic bald eagles, unbothered by the cold, have been going with the flow on the Hudson River. They visit this time every year, and to see them is a delight for nature lovers.
The NYPD is investigating Tuesday afternoon's deadly shooting on the platform of a B and D line subway station in the Mount Eden section of the Bronx.
New Yorkers felt much better on Tuesday as a warm front moved toward the region. But, snow and ice could make for a potentially dangerous evening.
A Cold Weather Advisory is in place through 10 a.m. on Monday for the entire Tri-State Area. As a result, a First Alert Weather Day will be in play for at least part of the day.
A Connecticut man was arrested after allegedly driving drunk in the Bronx and hitting pedestrians on a sidewalk Friday.
Parts of New York and Connecticut could see snow Friday into Saturday. A First Alert Weather Day is in effect for the weekend due to dangerously cold temperatures.
Bundle up — New York City and the Tri-State Area's stretch of dangerously cold weather continues, and it's sticking around longer than anyone would like.
A public meeting was held on Tuesday night in Morris County, New Jersey, after shots were fired earlier in the day in Roxbury Townshp during an ICE operation.
President Trump pulling funding from the Gateway Tunnel project has led to backlash from New York and New Jersey elected officials.
Former Rep. Tom Malinowski has conceded the New Jersey special election to fill Gov. Mikie Sherrill's congressional seat.
A home on Roosevelt Avenue in Bergenfield, New Jersey, went up in flames on Tuesday morning as firefighters worked to contain the blaze.
New Yorkers felt much better on Tuesday as a warm front moved toward the region. But, snow and ice could make for a potentially dangerous evening.
An arrest has been made in the 2021 acid attack on Long Island college student Nafiah Ikram. Prosecutors said Terell Campbell had numerous incriminating and shocking web searches and rapped about burning someone with acid.
New Yorkers felt much better on Tuesday as a warm front moved toward the region. But, snow and ice could make for a potentially dangerous evening.
Adelphi University student Orion Newby was celebrating on Monday after a court found that he didn't use artificial intelligence to cheat on a paper.
The 140-foot cell tower in Nissequogue would fix dropped calls and spotty service, but rise far above the trees.
A Cold Weather Advisory is in place through 10 a.m. on Monday for the entire Tri-State Area. As a result, a First Alert Weather Day will be in play for at least part of the day.
A public meeting was held on Tuesday night in Morris County, New Jersey, after shots were fired earlier in the day in Roxbury Townshp during an ICE operation.
President Trump pulling funding from the Gateway Tunnel project has led to backlash from New York and New Jersey elected officials.
There were many questions for the Mamdani administration about its Code Blue response during a City Council hearing Tuesday.
Lt. Gov. Antonio Delgado is suspending his campaign for governor of New York.
Former Rep. Tom Malinowski has conceded the New Jersey special election to fill Gov. Mikie Sherrill's congressional seat.
The longest and largest nurses strike in New York City history is set to end after over three weeks as NYSNA says it has a tentative agreement.
Mount Sinai Health System and Anthem Blue Cross Blue Shield failed to reach a contract agreement by Dec. 31, which means about 9,000 physicians are no longer considered in-network.
Brooklyn's Green-Wood Cemetery is set to become the first on the East Coast to offer human composting.
The goal is to get patients drunk and high at a new research lab on the border of Nassau County and Queens.
The Patchogue-Medford School District said in a letter that the Suffolk County Department of Health alerted them about an infectious person in the school community.
New York City Department of Environmental Protection said there was a "significant reduction in water usage" throughout the Big Apple during his show. That changed as soon as his performance ended.
Catherine O'Hara, known for her roles in "Home Alone," "Schitt's Creek" and "Beetlejuice," died on Jan. 30 at the age of 71.
LUAR Creative Director Raul López says Lady Gaga's salsa-inspired dress in Bad Bunny's Super Bowl halftime show was a moment of pride for Caribbeans and Latinos.
Puerto Rican superstar Bad Bunny, born Benito Antonio Martínez Ocasio, is one of the most-streamed artists on the planet.
The 31-year-old Puerto Rican artist Bad Bunny took the stage on Sunday dressed in all white, donning a jersey with his last name, Ocasio, and the number 64.
Pascal Siakam scored 30 points and the Pacers snapped a four-game losing streak by holding off the Knicks with a 137-134 overtime victory on Tuesday night.
Nic Claxton scored 28 points and had 10 rebounds to lead the Nets to a 123-113 win over the Bulls on Monday night.
Zuby Ejiofor scored six of his 25 points in overtime and No. 17 St. John's outlasted pesky Xavier 87-82 on Monday night at Madison Square Garden.
Puerto Rican superstar Bad Bunny, born Benito Antonio Martínez Ocasio, is one of the most-streamed artists on the planet.
Lindsey Vonn posted on Instagram a day after suffering a broken leg in a devastating crash at the Winter Olympics in Italy.
Edward R. Murrow High School's new boiler system cuts emissions while doubling as a hands-on sustainability lesson for students.
LUAR Creative Director Raul López says Lady Gaga's salsa-inspired dress in Bad Bunny's Super Bowl halftime show was a moment of pride for Caribbeans and Latinos.
After their building managers were arrested on fraud charges, tenants in Queens say their apartments were left in chaos.
Harlem's Schomburg Center for Research in Black Culture centennial anniversary began last year, and 2026 marks 100 years since the library became owner of its namesake's personal collection, making it a full-fledged research center.
Brooklyn's Green-Wood Cemetery is set to become the first on the East Coast to offer human composting.
The Halloween tradition strolled through Manhattan's East Village on Sunday, with furry friends dressed in colorful costumes.
A suspect was taken into custody after an attack on Pearl Street Mall in Boulder on June 1 in which there were 15 people and a dog who were victims. The suspect threw Molotov cocktails that burned some of the victims, who were part of a march for Israeli hostages.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Dogs got decked out for the annual Tompkins Square Halloween Dog Parade in New York City's East Village on Saturday.
Cosplayers flooded New York City's Javits Center in October 2024 for the annual New York Comic Con convention.
The Philipsburg Proclamation was signed in New York in the 1770s. The proclamation, signed by a British general, promised freedom to any enslaved person who took refuge behind British lines. CBS News New York's Mary Calvi takes us to Philipse Manor Hall State Historic Site in Yonkers, where the document is on display.
New Yorkers protested after park officials removed a Pride flag from the Stonewall National Monument under guidance from the federal government.
New York police are looking for a driver than fled the scene after a 31-year-old woman was hit while walking in midtown. Police sources said the victim is an off-duty NYPD officer.
Closing arguments are set for Wednesday in the trial of Paul Caneiro, who is accused of killing his brother, sister-in-law and their two children before setting their home on fire.
The shooting left 10 people dead and more than 25 injured on Tuesday in British Columbia.
