Wall Street's Shadow Market
Steve Kroft lifts the veil on credit default swaps -- the private, under-regulated and poorly understood investments that helped decimate the economy. How and why did Wall Street make such a risky bet?
Wall Street
Wall Street's financial crisis
Steve Kroft examined a vast unregulated shadow market in leveraged bets called "credit default swaps"
Are American banks safe today?
In the 2008 Great Recession, taxpayers were forced to bail out reckless Wall Street excess. Scott Pelley asks Fed Chair Jerome Powell: How safe are banks today?
Trump slams Wall Street's "TACO" acronym
President Trump is pushing back on Wall Street's new "TACO" acronym that's being used to describe his economic policies. The acronym stands for "Trump Always Chickens Out." Political strategists Joel Payne and Matt Gorman, along with CBS News chief White House correspondent Nancy Cordes, join to discuss.
U.S. producer price index unexpectedly drops
U.S. wholesale prices unexpectedly fell in April, marking the largest monthly drop since the start of the pandemic in 2020. CBS News contributor J.D. Durkin has more.
Apr 8: CBS News 24/7, 4pm ET
President Trump to sign executive order aimed at revitalizing the coal industry; Scientists claim to successfully revive once extinct Dire wolf.
Apr 8: CBS News 24/7, 1pm ET
President Trump holds a call with the acting president of South Korea to discuss a potential tariff deal; In shrinking rural towns, these Texas high schools are teaming up to stay alive.
Apr 8: CBS News 24/7, 10am ET
Stocks rebounding after wild day on Wall Street; Supreme Court lifted a federal judge's order that blocked the Trump administration from using the Alien Enemies Act to deport migrants to El Salvador.
What new earnings reports say about tech
The stock market closed in the green for the start of May thanks in part to strong quarterly earnings from Meta and Microsoft. CBS News MoneyWatch correspondent Kelly O'Grady has the latest.
Investors react to strong tech earnings
Investors are reacting to strong earnings from two of America's biggest tech names, Microsoft and Meta. The Dow went up about 80 points on Thursday, one day after data showed the U.S. economy shrank in Q1 of 2025. CBS News contributor J.D. Durkin reports.
Futures slide as China dashes hopes of trade negotiations
After a 2-day relief buoyed investor confidence, futures slipped signaling a weaker start to the day on Wall Street.
Tesla's Q1 sales, profits below expectations
Tesla released its earnings report for 2025's first quarter Tuesday with sales and profits falling short of analyst expectations as CEO Elon Musk continues to focus on the Trump administration's Department of Government Efficiency. CBS News MoneyWatch correspondent Kelly O'Grady reports.
Breaking down Wall Street's reaction to Trump
President Trump started the day calling Federal Reserve Chairman Jerome Powell names and pressuring him to lower interest rates. The comment caused an immediate reaction on Wall Street. Kelly O'Grady has analysis.
Stock market down amid fresh tariff fears
Wall Street saw a sea of red on Wednesday as Federal Reserve Chair Jerome Powell said tariffs came in larger than expected, which will lead to "at least a temporary rise" in inflation. CBS News MoneyWatch correspondent Kelly O'Grady has the biggest takeaways.
Why stock market is down after Trump tariff pause
The excitement over a pause of President Trump's reciprocal tariffs, which drove the markets up, did not carry over to the next day. Kelly O'Grady explains.
Wall Street volatility amid hope for tariff deals
The stock market started the day up, but then reversed early gains to end in the red, even as the White House says it is open to negotiate with willing countries. Kelly O'Grady explains.
Reporter's Notebook: Wall Street vs. Main Street
Tariff talk sparks confusion on Wall Street, but Main Street businesses are already struggling. "CBS Evening News" co-anchor John Dickerson explains.
Economist explains fallout from Trump's trade war
President Trump vowed there will be no pause to his wave of global tariffs. Despite the negative impact on the markets, and the increasing uncertainty about small and large businesses alike, the president promises his tariff plan will revive America's manufacturing sector. Josh Bivens, chief economist at the Economic Policy Institute, joins to discuss.
U.S. stocks down sharply after open
The U.S. stock market opened down sharply Monday, teeing up to be the third straight day of major losses after President Trump announced sweeping tariffs on trading partners last week. Global markets also tumbled on Monday as the Trump administration continued to defend its tariff plan. CBS News' Kelly O'Grady, Ramy Inocencio and Caitlin Huey-Burns have the latest.
How big are the stock market losses?
Friday was the second straight day of dramatic losses on Wall Street. One big factor is China announcing that it would impose 34% retaliatory tariffs on American goods in response to President Trump's tariff plan. CBS News MoneyWatch correspondent Kelly O'Grady breaks it all down.
How big are the stock market losses?
Friday was the second straight day of dramatic losses on Wall Street. One big factor is China announcing that it would impose 34% retaliatory tariffs on American goods in response to President Trump's tariff plan. CBS News MoneyWatch correspondent Kelly O'Grady breaks it all down.
Stocks see biggest wipeout since 2020
Stocks cratered in the U.S. on Thursday, one day after President Trump unveiled his plans for a 10% baseline tariff on all nations and higher levies for some. CBS News' John Dickerson anchors a special report.
Stocks tumble as Wall Street braces for Trump's April 2 tariffs
Investors are concerned about President Trump's plans to roll out new tariffs on April 2, which economists say could reignite inflation.
S&P 500 marks worst quarter since 2022 amid tariff and inflation fears
Stocks whipsawed on Monday on economic worries, ending the quarter with its worst performance in three years.
Wall Street reacts to Trump tariffs
President Donald Trump's tariff plans and worsening inflation data has investors on edge. Wall Street suffered a steep sell-off on Friday, with the three major indexes all down sharply. While heading to Mar-a-Lago this weekend, Trump said he is open to carving out deals with countries looking to avoid tariffs, but that likely won't happen until after they are set to begin on Wednesday.
Trump imposes 10% tariffs on all countries after SCOTUS struck down earlier tariffs
President Trump's order imposing 10% tariffs came just hours after the Supreme Court struck down a different set of sweeping global tariffs.
Trump lashes out at his own Supreme Court picks over tariff ruling
President Trump said he was "ashamed of certain members of the court" after the Supreme Court struck down most of his tariffs.
First on CBS
Amex laments Epstein ties as files reveal hundreds of travel bookings
American Express tells CBS News it regrets having had Jeffrey Epstein as a client, as files reveal he used the company to book travel for multiple women or girls.
Who's weighing in as Trump considers military strikes on Iran?
President Trump says he's considering limited strikes against Iran as negotiations over its nuclear program are underway. Here are some of the figures talking with him about the decision.
No charges for Labor secretary's husband after being banned from building
Labor Secretary Lori Chavez-DeRemer's husband was banned from the Labor Department building after agency employees alleged he had touched them inappropriately, sources said.
Trump admin. fires top prosecutor in Eastern Virginia hours after he was hired by judges
The Trump administration fired an interim top prosecutor in Eastern Virginia almost immediately after he was hired by a panel of judges, deepening the conflict between the DOJ and the judiciary in that region.
U.S. men's hockey team beats Slovakia, will face Canada in gold medal game
The U.S. men's hockey team will face Canada on Sunday for the gold medal. The U.S. men have not won gold in the Olympics since the "Miracle on Ice" team in 1980.
Will Americans get refunds after Trump's tariffs were overturned by the Supreme Court?
While the Supreme Court struck down the Trump administration's emergency tariffs, experts said it could take years for businesses to get refunds.
Car-ramming at power substation near Las Vegas investigated as possible terrorism
The driver of the vehicle, a 23-year-old man from Albany, New York, had been reported missing and died of a self-inflicted gunshot wound, police said.
U.S.
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House Speaker denies request for Jesse Jackson to lie in honor at Capitol
House Speaker Mike Johnson's office has denied a request to have the late Rev. Jesse Jackson lie in honor in the U.S. Capitol Rotunda due to past precedent.
Court clears way for Louisiana law requiring public schools display Ten Commandments
The 5th Circuit Court of Appeals has cleared the way for a Louisiana law requiring poster-sized displays of the Ten Commandments in public classrooms to take effect.
Judge who held DOJ lawyer in contempt blasts handling of immigration cases
A federal judge who took the extraordinary step of holding a government lawyer in contempt of court earlier this week blasted the Justice Department for its handling of immigration cases on Friday.
Barry Manilow cancels more concerts amid recovery after cancer surgery
Barry Manilow announced Friday he needs to reschedule several more concerts as he continues to recover following surgery after he was diagnosed with lung cancer.
"Jersey Shore" star Nicole "Snooki" Polizzi reveals she has cervical cancer
"Jersey Shore" star Nicole "Snooki" Polizzi said in a TikTok video that her results at a post-op appointment for a cone biopsy showed stage 1 cervical cancer.
MoneyWatch
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Trump imposes 10% tariffs on all countries after SCOTUS struck down earlier tariffs
President Trump signed an order that will impose 10% tariffs on imports from all countries, just hours after the Supreme Court struck down a different set of sweeping global tariffs.
Will Americans get refunds after Trump's tariffs were overturned by the Supreme Court?
While the Supreme Court struck down the Trump administration's emergency tariffs, experts said it could take years for businesses to get refunds.
Fried rice sold at Trader Joe's recalled over possible glass contamination
The recall involves 3.4 million pounds of frozen chicken fried rice products shipped to Trader Joe's locations nationwide and to retailers in Canada.
The latest GDP data isn't as bad as it looks. Here's what to know.
A simple reason explains why U.S. economic growth seemed to hit a wall in the final three months of the year.
Walmart and other big companies say tariffs are forcing them to hike prices
Large U.S. retailers say the Trump administration tariffs are forcing them to hike customer prices to offset higher costs.
Politics
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House Speaker denies request for Jesse Jackson to lie in honor at Capitol
House Speaker Mike Johnson's office has denied a request to have the late Rev. Jesse Jackson lie in honor in the U.S. Capitol Rotunda due to past precedent.
Trump admin. fires top prosecutor in Eastern Virginia hours after he was hired by judges
The Trump administration fired an interim top prosecutor in Eastern Virginia almost immediately after he was hired by a panel of judges, deepening the conflict between the DOJ and the judiciary in that region.
Court clears way for Louisiana law requiring public schools display Ten Commandments
The 5th Circuit Court of Appeals has cleared the way for a Louisiana law requiring poster-sized displays of the Ten Commandments in public classrooms to take effect.
Judge who held DOJ lawyer in contempt blasts handling of immigration cases
A federal judge who took the extraordinary step of holding a government lawyer in contempt of court earlier this week blasted the Justice Department for its handling of immigration cases on Friday.
Trump imposes 10% tariffs on all countries after SCOTUS struck down earlier tariffs
President Trump signed an order that will impose 10% tariffs on imports from all countries, just hours after the Supreme Court struck down a different set of sweeping global tariffs.
HealthWatch
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Federal tax dollars subsidize health care plans in ways you may not realize
Critics have questioned why the federal government should underwrite coverage costs for people with ACA health plans — but almost all health insurance in the U.S. comes with some federal help.
NIH's Jay Bhattacharya will also serve as acting CDC director
The Centers for Disease Control and Prevention hasn't had a Senate confirmed director since last summer, and that official was in the job for less than a month.
Moderna says FDA to review its flu vaccine after reversing course
With the reversal from the FDA, Moderna said it is aiming to make the vaccine available for the 2026-27 flu season.
FDA investigating Salmonella outbreak connected to moringa powder
Rosabella-brand moringa capsules could be linked to Salmonella cases in seven U.S. states, health officials said.
Measles cases at university in Florida soar to nearly 60
Twenty one states in the U.S. have confirmed cases of measles.
World
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Top-ranked Canadian women upset by Sweden in curling semifinals
Sweden, which has won the women's curling competition three times since curling returned to the Olympic program in 1998, beat Canada 6-3.
U.S. men's hockey team crushes Slovakia, will face Canada in gold medal game
The U.S. men's hockey team will face Canada on Sunday for the gold medal. The U.S. men have not won gold in the Olympics since the "Miracle on Ice" team in 1980.
Olympic gold medalist Alysa Liu's advice for aspiring figure skaters
Alysa Liu stunned the skating world by retiring at age 16. Two years later, she returned to the ice, and now she's won gold at the Winter Olympics.
Who's weighing in as Trump considers military strikes on Iran?
President Trump says he's considering limited strikes against Iran as negotiations over its nuclear program are underway. Here are some of the figures talking with him about the decision.
How advanced is Iran's nuclear program? Here's what we know.
President Trump is pressuring Iran to either curtail its nuclear program or face military strikes, after Iran amassed a large stockpile of highly enriched uranium. Here's what to know.
Entertainment
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Barry Manilow cancels more concerts amid recovery after cancer surgery
Barry Manilow announced Friday he needs to reschedule several more concerts as he continues to recover following surgery after he was diagnosed with lung cancer.
"Jersey Shore" star Nicole "Snooki" Polizzi reveals she has cervical cancer
"Jersey Shore" star Nicole "Snooki" Polizzi said in a TikTok video that her results at a post-op appointment for a cone biopsy showed stage 1 cervical cancer.
Mike White reflects on playing "Survivor"
"Survivor" returns next week for its 50th season and features fan favorite contestants, including "The White Lotus" creator Mike White. He reflects on his time on the reality competition show, saying, "everybody in my business wants the Oscar. It's like you losers like I wanna win Survivor."
"America's Next Top Model" winner describes "horrifying" docuseries allegations
"America's Next Top Model" winner Eva Marcille tells "CBS Mornings" that she "was gobsmacked" after watching behind-the-scenes moments from the reality competition show.
Hilary Duff on her return to music
Millennial icon Hilary Duff is out with new music for the first time in more than a decade. She spoke to Anthony Mason about her return to performing, the decision to open up about relationships in her music and life as a mother of four.
Technology
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Technology
Social psychologist on social media addiction
One of the catalysts for the social media addiction debate was a 2024 book called "The Anxious Generation" by social psychologist Jonathan Haidt. His new book tries to help parents and kids break free from screens. Haidt joins CBS News to discuss Mark Zuckerberg, the ongoing social media addiction trial and artificial intelligence.
Judge scolds Mark Zuckerberg's team for wearing Meta glasses to trial
A Los Angeles judge ordered Meta officials to remove their AI glasses at a trial over the impact of social media on users.
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.
Mark Zuckerberg grilled in court
Meta CEO Mark Zuckerberg took the stand at the social media addiction trial examining whether children and teens were given access to an addictive and harmful product. CBS News' Carter Evans reports.
Zuckerberg testifies at social media trial
Meta CEO Mark Zuckerberg testified Wednesday in a civil case over social media addiction allegations that skyrocketing social media use shows how people value the sites and it's not a strategy to keep users addicted. Jo Ling Kent reports.
Science
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In a first, shark seen on camera in Antarctica waters, surprising researchers
A large shark was caught on camera for the first time in Antarctica's waters, surprising researchers. "There's a general rule of thumb that you don't get sharks in Antarctica," one said.
How Washington's crossing of the Delaware presaged a changing world
On the evening of Christmas 1776, Gen. George Washington surprised the King's forces by leading the Continental Army in a surprise crossing of a near-frozen Delaware River - a watershed military maneuver that dramatized a changing America, and a changing climate.
These United States: George Washington and climate change
On the evening of Christmas 1776, Gen. George Washington surprised the King's forces by leading the Continental Army in an unanticipated crossing of a near-frozen Delaware River. Environmental correspondent David Schechter looks at how Washington's watershed military maneuver dramatized both a changing America, and a changing climate.
Impact of climate change on Winter Olympics
The Winter Olympics in Milan need artificial snow due to climate change and warmer weather. Athletes say man-made snow makes terrain more difficult and unpredictable. Rob Marciano reports on its impact.
Scientists "quite surprised" to find one polar bear population thriving
After decades monitoring polar bears in Norway's far north, researchers say the animals have proven incredibly adaptable, but there are no guarantees for the future.
Crime
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Crime
New Mexico AG reopens Epstein ranch probe
New Mexico's attorney general has reopened an investigation into activities at a ranch once owned by convicted sex offender Jeffrey Epstein. CBS News correspondent Ian Lee has more.
Possible act of terrorism outside Las Vegas
The FBI investigated a possible act of terrorism outside of Las Vegas on Friday. This came after a driver armed with guns and explosives attempted to ram his car into a power facility not far from the Hoover Dam. CBS News correspondent Carter Evans has more.
Nancy Guthrie investigators turn to genetic genealogy. It's worked in big cases before.
Investigators in the Nancy Guthrie case have turned to genetic genealogy as they try to make the most of potential DNA evidence.
Police: Nancy Guthrie case hasn't gone cold
Investigators are combing through evidence and turning to commercial genealogy companies for DNA leads in the search for Nancy Guthrie, who was reported missing on Feb. 1. CBS News' Andres Gutierrez has the latest.
Woman went on first date, never returns home
19-year-old college student Sade Robinson went on a first date in 2024 and never returned home. 48 Hours correspondent Anne-Marie Green previews "Sade Robinson and The Secret Beach."
Space
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Space
Cosmologist on UFO files
President Trump has ordered the release of all government documents related to aliens, UFOs and extraterrestrial life. It comes after former President Barack Obama addressed the topic earlier this week and said aliens are real, a statement which he later modified. CBS News contributor Janna Levin has more details.
NASA targets March 6 for Artemis II moonshot
A successful fueling test prompts NASA to press ahead toward a March 6 moonshot.
New NASA boss criticizes agency over Starliner
NASA's new boss blasted both Boeing and his own space agency for the botched Starliner flight that left two astronauts stuck in space for months.
NASA's new chief rebukes Boeing, space agency over problem-plagued Starliner mission
Astronauts Barry "Butch" Wilmore and Sunita Williams were expecting to spend eight to 10 days in space. They ended up remaining in orbit for 286 days.
Artemis II moon rocket refueled in practice countdown setting stage for historic flight
Engineers were able to fully fuel NASA's Artemis II moon rocket without any signs of leaks like the ones that derailed an earlier dress rehearsal.
Latest Galleries
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Notable Deaths in 2026
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Evidence in the Barbara Kendhammer case
Does the evidence show a cover-up, or was Todd Kendhammer wrongfully convicted for the murder of his wife?
The life & near death of prizefighter Christy Salters-Martin
Christy Salters-Martin dominated in the boxing ring but faced her toughest challenger at home.
Timeline: The disappearance of George Smith
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Who is Alix Tichelman?
Meet the tattooed beauty charged in the death of Google executive Forrest Hayes.
Latest CBS News Videos
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Latest CBS News Videos
Port of Los Angeles leader on tariffs
The Port of Los Angeles, the nation's busiest port, which processes about a third of U.S. imports and exports, saw a 13% decline in January of this year, compared with the same period last year. Gene Seroka, executive director of the port, joins "The Daily Report" to discuss.
New Mexico AG reopens Epstein ranch probe
New Mexico's attorney general has reopened an investigation into activities at a ranch once owned by convicted sex offender Jeffrey Epstein. CBS News correspondent Ian Lee has more.
Bomb cyclone threatens East Coast with more winter weather
A fast-developing bomb cyclone is threatening the East Coast with yet another severe round of winter weather. CBS Boston chief meteorologist Eric Fisher has the forecast. Then, Tom Hanson has more about a violent tornado that touched down in southern Illinois.
Man's cat sanctuary naps help rescue expand impact
A retired teacher started volunteering to take care of cats at a sanctuary, but his mission quickly evolved to napping with them. Steve Hartman checks in seven years later about the viral moments have allowed them to help even more cats over the years.
White House orders release of UFO files
President Trump directed his administration to release files on UFOs and any "alien and extraterrestrial life." Mark Strassmann has details.