DOW plunges amid fears of a recession
As cars, food and electricity become more expensive, Americans are feeling the pressure of rising inflation. The DOW dropped 486 points, its lowest since late 2020, on Friday. Michael George has the details.
Economy
4/28: Red and Blue
President Biden to give first address to Congress; Examining Biden's political evolution
Recession fears mount as U.S. stocks fall
The Dow Jones Industrial Average, S&P 500 and NASDAQ each lost more than 1.5% on Friday, with the Dow closing at its lowest level since late 2020. CBS News correspondent Michael George has more on the troubling economic trends.
Fewer homes for sale as mortgage rates rise
Fewer homes are going on the market as homeowners hesitate to give up low, locked-in mortgage rates. Errol Barnett and Elaine Quijano discussed with Odeta Kushi.
Stocks plunge, dragging Wall Street toward another down week
Dow hits 2022 low as markets sell off on recession fears as central banks around the world jack up interest rates.
Dow drops below 30,000 points
The Dow Jones Industrial Average dropped below 30,000 Friday for the first time since 2020. Javier David, managing editor of business and markets at Axios, joined CBS News to discuss the volatile market.
3/11: Red and Blue
Biden addressing nation after passing COVID relief bill; Matthew McConaughey mulling run for Texas governor
2/18: Red and Blue
Biden postpones trip after East Coast winter storm; Dolly Parton humbly rejects statue proposal
3/15: Red and Blue
Biden admin. touring to promote COVID relief plan; Senate confirms Deb Haaland as Interior secretary
2/8: Red and Blue
Second Trump impeachment trial begins Tuesday; "Hero pay" for store workers prompts closures.
2/3: Red and Blue
President Biden pushes ahead with COVID economic relief plan; Obama presidential library to begin construction
1/26: Red and Blue
Senators swear in for Trump's impeachment trial; Working to put Harriet Tubman on the $20 bill
U.K. tax cuts spark concerns about mounting debt
Britain's new government announced sweeping tax cuts it said would be funded by borrowing.
Mortgage rates at highest level since 2007 after latest Fed hike
Interest rate on a typical 30-year mortgage rate has jumped by more than a quarter-point this week to 6.29%.
Housing market slows as mortgage rates rise
The U.S. housing market slowed in August for the seventh consecutive month this year. CBS News speaks with George Ratiu, the manager of economic research at realtor.com, about what's driving the downturn in home sales.
Impact of Federal Reserve rate hike
The Federal Reserve raised interest rates again by three-quarters of a percentage point. Lori Bettinger, the president of BancAlliance and former director of the U.S. Treasury Department's troubled asset relief program, explains what the latest increases mean for consumers.
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Target plans to hire up to 100,000 workers for holiday season
Walmart and Target plan to begin offering deals earlier this year to ease sting of soaring inflation on shoppers.
Stock market reacts to Fed interest rate hike
Stocks fell sharply Wednesday when the Federal Reserve announced it was raising interest rates again another 75 basis points. Liz Young, head of investment strategy at SoFi, joined CBS News to discuss what the Fed's announcement means for the future of the U.S. economy.
Inflation sends prices soaring at discount stores
Prices for meat, poultry, fish, eggs and dairy products increased at a higher rate at discount stores than many other grocery stores -- a sign that inflation is hitting people who can least afford the price increases the hardest. Carter Evans takes a look.
Federal Reserve hikes key interest rate again
The Federal Reserve raised its benchmark interest rate by 0.75 percentage point as it tries to slow spending to lower inflation without pushing the economy into a recession.
Stocks tumble on Wall Street as Fed escalates inflation fight
Fed raised key interest rate by three-quarters of a percentage point and signaled it plans to keep rates higher longer.
Alaskans receive over $3,000 in state oil-wealth payment checks
The $1.6 billion in direct deposits "will provide much needed relief as we head into winter," Governor Mike Dunleavy said.
Rep. Cheri Bustos discusses the upcoming midterms
With the midterm elections just weeks away, the economy and abortion have emerged as key issues on the minds of voters. Democratic Rep. Cheri Bustos of Illinois, a former chair of the Democratic Congressional Campaign Committee, joined "Red and Blue" to discuss the midterms.
Supreme Court allows college vaccine mandate
The Supreme Court declined to block Indiana University's requirement for students to be vaccinated. Justices also struck down part of New York's statewide halt on evictions. CBS News legal contributor and Loyola Law School professor Jessica Levinson spoke to CBSN's Tanya Rivero about the impact of the decisions.
Tennessee prison system head to resign after failed Christa Pike execution
Jane Doe's attorney says "she was incapable of consent," alleges cover-up
Medical plane missing near Nantucket with 6 on board, authorities say
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Senior Trump administration officials met to discuss Iran war at Camp David
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Judge says federal law banning noncitizen voting is unconstitutional
