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.
Stock Market
Stocks plunge to lowest levels since 2020 on aggressive rate hikes
Investors continue to worry that Fed could hit brakes on economy too hard and cause a recession.
11/30: Red and Blue
Omicron COVID-19 variant creates uncertainty across markets; Barbados becomes world's newest republic
Recession fears mount as stocks fall sharply
"It is very likely that we are going to have a recession," said UC Berkeley economist James Wilcox.
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.
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.
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.
Stocks in flux ahead of Fed meeting
The Federal Reserve has twp-day meeting starting Tuesday and economists are preparing for another interest rate hike to come out of it. Saira Malik, chief investment officer of Nuveen, joins CBS News at the closing bell to discuss what is driving the market.
Stocks rise amid expectations of another big rate hike
But "markets have good reason to be braced for headwinds," one analyst said of expectations Fed will hike rates this week.
Markets fall to close out week
All three major stock indexes ended the week with losses for the fourth time in five weeks. Victoria Fernandez, chief market strategist at Crossmark Global Investments, joins CBS News to discuss what it means for the U.S. economy.
Stocks tumble as FedEx profit warning spooks investors
The market swoon adds to weekly losses sparked by a hotter-than-expected inflation report.
U.S. stocks rally to close higher after sharp selloff
"A sustained rally is likely to require clear evidence that inflation is on a downward trend," a UBS analyst said.
Wholesale prices up 8.7% since last year
The new wholesale prices report is echoing Wall Street's concerns that inflation isn't easing quickly enough. It comes on the heels of the worst day for stocks in more than two years. Matt Sapaula, founder of Money Smart Guy, joined CBS News to discuss.
Stocks plummet after August inflation report
Stocks dropped after the latest Consumer Price Index report showed U.S. inflation remains high. The Dow tumbled nearly 1,300 points Tuesday for the worst day since June 2020. Wall Street Journal reporter Dion Rabouin joins CBS News to discuss the market reaction.
Stocks plunge as inflation remains high
CBS News business analyst Jill Schlesinger joins "CBS Mornings" to explain why the stock market dipped and what the economy could look like heading into the holiday season.
Stocks tumble on August inflation report
The Consumer Price Index report for August tanked the stock market as inflation continued to slow at a snail's pace. Emil Michael, chairman and CEO of DPCM, joins CBS News to discuss the impact on the overall economy.
Stock market faces volatility
Major stock indexes had a roller coaster day coming out of Labor Day weekend. Julia-Ambra Verlaine, markets report at the Wall Street Journal, joins CBS News at Tuesday's closing bell to discuss what was driving the market.
U.S. stocks end lower for 3rd straight week, despite jobs numbers
An early morning rally fueled by slower jobs report, faded by mid-afternoon, erasing all gains.
Investors concerned aggressive rate hike could be coming
U.S. jobless claims declined for the third week in a row, according to numbers released by the Labor Department Thursday. However, investors fear it could give the Federal Reserve the opportunity to make another aggressive interest rate hike this month. Marley Kayden, economic journalist and a professor at DePaul University, joined CBS News to discuss the job market and its impact on the stock market.
U.S. stocks slump as investors continue to fret over Fed plans
Markets have been roiled since Fed chair's speech Friday reaffirming central bank's aggressive plans to cool inflation.
Stocks close lower, adding to Friday's steep losses
Markets lost more ground after Powell's speech last week confirming more hikes: "We must keep at it until the job is done."
Stock market drops after Fed chair's speech
The Dow Jones Industrial Average fell more than 1,000 points Friday after Federal Reserve Chair Jerome Powell said the Fed will continue raising interest rates to tame inflation. Colby Smith, a U.S. economics editor for the Financial Times, joins CBS News' Catherine Herridge to discuss.
Fed chair’s remarks trigger market sell-off
Federal Reserve Chair Jerome Powell’s remarks on inflation triggered a massive sell-off on Wall Street. Melissa Armo, owner and founder of The Stock Swoosh, breaks down why investors aren’t thrilled with the Fed chair’s comments on a possible interest rate hike.
Stocks crumble after Fed dashes hopes for easing up on rates
S&P 500 suffered its biggest drop in two months after Fed chair Jerome Powell said rates will remain high "for some time."
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U.S. and Iran strike ceasefire, launching 2-week diplomatic push
President Trump announced that the U.S. and Iran had agreed to a two-week ceasefire in the war that was contingent on the reopening of the Strait of Hormuz.
Republican Clay Fuller to replace Marjorie Taylor Greene in House
Republican Clay Fuller faced Democrat Shawn Harris in a Georgia runoff election after Marjorie Taylor Greene stepped down from her House seat.
One hospice doctor. One year. $71.7 million worth of Medicare claims.
A CBS News investigation found one Los Angeles County hospice physician's name, Dr. Rajiv Bhuva, on Medicare claims for nearly 2,800 patients across 126 hospices in a single year.
Trump announces "double sided" ceasefire with Iran, says Strait of Hormuz must reopen
President Trump said he has agreed to a "double sided CEASEFIRE" with Iran, less than two hours before his deadline for Iran to either cut a deal with the U.S. or face massive strikes on its power plants.
U.S. journalist Shelly Kittleson released after kidnapping in Iraq
American journalist Shelly Kittleson is being released on the condition that she leave Iraq immediately, an Iranian-backed militia in Iraq says.
All DHS workers to be paid by end of week for past 6 weeks of shutdown
Homeland Security Secretary Markwayne Mullin said DHS employees affected by the government shutdown will be paid through the recent pay periods by the end of the week.
Few Republicans condemn Trump's Iran threat, Democrats call for removal
Republicans in Congress largely stayed silent, while dozens of Democrats called for President Trump to be removed from office after he threatened "a whole civilization will die tonight."
Lawsuit challenges DOJ memo finding presidential records law unconstitutional
A pair of organizations filed a lawsuit challenging the Justice Department's determination that a presidential records law is unconstitutional.
Stunning photos from Artemis II show Earth, moon, eclipse from space
The astronauts aboard Artemis II are the first humans to see some parts of the far side of the moon with the naked eye.
U.S.
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Republican Clay Fuller to replace Marjorie Taylor Greene in House
Republican Clay Fuller faced Democrat Shawn Harris in a Georgia runoff election after Marjorie Taylor Greene stepped down from her House seat.
Daughter of missing American in the Bahamas seeks answers as search continues
Lynette Hooker's daughter, Karli Aylesworth, described her mother as an experienced swimmer who has been sailing for over 10 years.
Trump announces "double sided" ceasefire with Iran, says Strait of Hormuz must reopen
President Trump said he has agreed to a "double sided CEASEFIRE" with Iran, less than two hours before his deadline for Iran to either cut a deal with the U.S. or face massive strikes on its power plants.
All DHS workers to be paid by end of week for past 6 weeks of shutdown
Homeland Security Secretary Markwayne Mullin said DHS employees affected by the government shutdown will be paid through the recent pay periods by the end of the week.
AI will affect more than half of all U.S. jobs, analysis finds
Artificial intelligence is more likely to change the nature of work than to supplant masses of workers, according to researchers.
MoneyWatch
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AI will affect more than half of all U.S. jobs, analysis finds
Artificial intelligence is more likely to change the nature of work than to supplant masses of workers, according to researchers.
Average cost to raise a child now tops $300,000, study finds
Raising a child through age 18 is most expensive in Hawaii, where a family would spend an estimated $412,661 in 2026, LendingTree found.
Lawmakers call for CFTC crackdown on prediction markets
Prediction market bets on the fate of U.S. service members are "morally corrupt and completely unacceptable," one lawmaker said.
Gas prices could top $5 if Strait of Hormuz stays shut, J.P. Morgan says
Gas prices in the U.S. could near a record high later this month if the Strait of Hormuz remains sealed, energy industry experts warn.
Delta hikes bag check fee by up to $50 as jet fuel prices soar
Delta is the third major U.S. carrier to hike its bag fees, as airlines face surging jet fuel costs and other headwinds from the Iran war.
Politics
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Mullin visits town devastated by Hurricane Helene, promises reforms to FEMA
In his first official visit to a tiny North Carolina town devastated by Hurricane Helene, new Secretary of Homeland Security Markwayne Mullin reassured locals he intends to reform FEMA — not eliminate it.
Republican Clay Fuller to replace Marjorie Taylor Greene in House
Republican Clay Fuller faced Democrat Shawn Harris in a Georgia runoff election after Marjorie Taylor Greene stepped down from her House seat.
Few Republicans condemn Trump's Iran threat, Democrats call for removal
Republicans in Congress largely stayed silent, while dozens of Democrats called for President Trump to be removed from office after he threatened "a whole civilization will die tonight."
Trump announces "double sided" ceasefire with Iran, says Strait of Hormuz must reopen
President Trump said he has agreed to a "double sided CEASEFIRE" with Iran, less than two hours before his deadline for Iran to either cut a deal with the U.S. or face massive strikes on its power plants.
All DHS workers to be paid by end of week for past 6 weeks of shutdown
Homeland Security Secretary Markwayne Mullin said DHS employees affected by the government shutdown will be paid through the recent pay periods by the end of the week.
HealthWatch
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2 more drug companies to officially launch on TrumpRx
Two more drug-making giants, Abbvie and Genentech, will start selling popular medications on the White House's discounted pharmaceutical site as soon as Monday.
Social media driving teens toward steroids, extreme body transformations
Behind some of the viral physiques lies a troubling trend: the use of a powerful drug never approved for humans.
Scientist with rare ALS genetic mutation looks to experimental treatment
Every few months for the past three years, Jeff Vierstra has been receiving infusions in his spine that target and disable a mutated gene that made it likely he would develop ALS.
New ALS treatment brings hope to patients
"CBS Saturday Morning" looks at an experimental treatment for amyotrophic lateral sclerosis, or Lou Gehrig's disease, that is bringing hope to some patients suffering from the neurodegenerative disease. To inquire about possible participation in Silence ALS, an initiative to develop individualized gene-based therapies for patients with other rare genetic forms of ALS, please write to silenceals@cumc.columbia.edu.
He thought he was in good health — until fainting during a bike ride
John Cantrell was enjoying his retirement until an unexpected condition forced him to choose between two kinds of heart surgery.
World
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Few Republicans condemn Trump's Iran threat, Democrats call for removal
Republicans in Congress largely stayed silent, while dozens of Democrats called for President Trump to be removed from office after he threatened "a whole civilization will die tonight."
Trump announces "double sided" ceasefire with Iran, says Strait of Hormuz must reopen
President Trump said he has agreed to a "double sided CEASEFIRE" with Iran, less than two hours before his deadline for Iran to either cut a deal with the U.S. or face massive strikes on its power plants.
U.S. journalist Shelly Kittleson released after kidnapping in Iraq
American journalist Shelly Kittleson is being released on the condition that she leave Iraq immediately, an Iranian-backed militia in Iraq says.
Kanye West barred from entering U.K. after criticism over antisemitic remarks
A major music festival featuring the rapper formerly known as Kanye West was canceled after the U.K. government blocked Ye from entering the country.
Family missing for 7 days found alive by U.S. Coast Guard in Pacific
A family of three was found alive by the U.S. Coast Guard, seven days after they went missing on a small boat in the western Pacific Ocean.
Entertainment
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Entertainment
Extended interview: Billy Idol
Billy Idol speaks with Anthony Mason about his music career, his life, his stage persona and more.
Kanye West barred from entering U.K. after criticism over antisemitic remarks
A major music festival featuring the rapper formerly known as Kanye West was canceled after the U.K. government blocked Ye from entering the country.
Extended interview: Mumford & Sons
Marcus Mumford, Ben Lovett and Ted Dwane, members of Mumford & Sons, talk to Anthony Mason about their new album, "Prizefighter," moving forward without Winston Marshall in the band and their upcoming tour.
Referees honor "Hoosiers" decades later
The movie "Hoosiers" was released nearly 40 years ago, but its legacy lives on through a group of Indiana referees and a basketball icon in the state. Omar Villafranca reports.
Controversy surrounding the movie "The Drama"
(Spoilers ahead): The new film "The Drama," which stars Zendaya and Robert Pattinson, is stirring controversy and even some criticism over a shocking admission made by Zendaya's character. Nigel Smith, a senior news editor with People, breaks down the big reveal and if he thinks the backlash is warranted.
Technology
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AI will affect more than half of all U.S. jobs, analysis finds
Artificial intelligence is more likely to change the nature of work than to supplant masses of workers, according to researchers.
H-1B visa program changes impact global talent
Trump administration changes to the U.S. H-1B visa program have impacted the global talent coming to the U.S. CBS News' Shanelle Kaul reports from India.
How AI powered robots are helping small farms
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
The $100,000 H-1B visa fee is impacting the U.S.'s ability to attract global talent
According to numbers from U.S. Citizenship and Immigration Services, more than 70% of H-1B visa holders in 2024 were Indian.
New film on risks and rewards of AI
"CBS Mornings" sits down with Tristan Harris, co-founder and president of the Center for Humane Technology, who is featured in the 2026 documentary, "The AI Doc: Or How I Became an Apocaloptimist."
Science
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Stunning photos from Artemis II show Earth, moon, eclipse from space
The astronauts aboard Artemis II are the first humans to see some parts of the far side of the moon with the naked eye.
Artemis II astronauts speak during historic lunar mission
On Monday, the astronauts aboard the Artemis II spacecraft will loop around the Moon's far side, part of a mission pushing human beings farther from Earth than anyone has ever been. Correspondent Mark Strassmann talked with commander Reid Wiseman, pilot Victor Glover, and mission specialists Christina Koch and Jeremy Hansen as the crew was about 180,000 miles from home, preparing for their historic lunar flyby.
Artemis II crew begins "crazy first day" in space after exhilarating launch
NASA's Artemis II astronauts will spend about 24 hours orbiting the Earth and running checks on their spacecraft and life support systems before heading to the moon.
CBS News studio shakes as Artemis II launches
Four astronauts are traveling around the moon on Artemis II, going further from Earth than anyone before. CBS News' Mark Strassmann and Peter King have more.
What Artemis II astronauts will do in space
Former NASA astronaut Clayton Anderson joins CBS News to discuss what the Artemis II astronauts will do as they orbit the Earth after takeoff.
Crime
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Crime
CBS News tracks down doctor connected to fraud
Acting Attorney General Todd Blanche announced a widening federal crackdown on fraud on Tuesday. Meanwhile, Adam Yamaguchi tracked down a doctor whose practice raised multiple red flags.
Update on CA hospice care investigation
CBS News' Adam Yamaguchi is seeking answers from a hospice doctor who submitted claims for more than 20 times the number of patients that the average California doctor cares for in a year.
Shooting near Israeli Consulate in Istanbul
Local officials confirmed a shooting near the Israeli Consulate in Istanbul, Turkey. CBS News' Ramy Inocencio reports.
LA's most connected hospice doctor
CBS News is investigating red flags and possible fraud in the hospice industry. A hospice doctor submitted claims for more than 20 times the number of patients the average California doctor cares for in a year. Adam Yamaguchi reports.
Decorated soldier charged with committing 5 war crime murders
Ben Roberts-Smith was awarded the Victoria Cross in 2011, a medal reserved for only the most courageous wartime exploits.
Space
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Stunning photos from Artemis II show Earth, moon, eclipse from space
The astronauts aboard Artemis II are the first humans to see some parts of the far side of the moon with the naked eye.
Artemis II crew on path back to Earth after historic trip around the moon
The Artemis II crew flew farther from Earth than any humans in history as they passed over the far side of the moon on Monday night.
Artemis II astronauts find hidden Easter eggs as they close in on the moon
The NASA astronauts also sent down Easter messages Sunday while gearing up for a historic pass behind the moon Monday.
Artemis II crew take new photo of far side of the moon
The crew of NASA's Artemis II mission captured a new image of the far side of the moon, which the agency released Sunday.
Despite toilet trouble, Artemis II crew reflects on wonder of deep space experience
Amid ongoing toilet trouble, the Artemis II astronauts reflected on the wonder of sailing through deep space to the moon.
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Notable Deaths in 2026
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Evidence in the Barbara Kendhammer case
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Timeline: The disappearance of George Smith
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Who is Alix Tichelman?
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Latest CBS News Videos
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Latest CBS News Videos
Extended interview: Billy Idol
Billy Idol speaks with Anthony Mason about his music career, his life, his stage persona and more.
Ex-astronauts react to Artemis II's lunar flyby
On Monday, the Artemis II crew traveled farther from Earth than any human before. As the Orion capsule made its lunar flyby, the four astronauts aboard became the first humans to see some parts of the moon's far side with the naked eye. Several former NASA astronauts joined CBS News to weigh in on the historic moment.
Details on Iranian proposal at center of ceasefire
President Trump has announced that he will suspend attacks on Iran for two weeks. CBS News' Imtiaz Tyab, Courtney Kealy and Aaron MacLean have the latest.
Antonio Villaraigosa on California governor bid
The crowded field of Democratic candidates running for governor of California is splitting the liberal vote so much that two Republican candidates are regularly polling at the top in the blue state. Democratic candidate and former Los Angeles Mayor Antonio Villaraigosa joins "The Takeout" to discuss his campaign.
Artemis II astronauts on Day 7
With the Artemis II crew making its way back home to Earth, NASA has released stunning photos the astronauts took during their historic lunar fly-by. CBS News national correspondent Mark Strassmann has more from the Johnson Space Center in Houston.