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, 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.
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.
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 growing frustrated with limits of Iran military options, sources say
Military planners are advising President Trump that any strike on Tehran's assets would almost certainly not be a singular, decisive blow.
Exclusive
DEA memo in Epstein files names him in a previously unknown investigation
A memo shows Jeffrey Epstein was the subject of a previously undisclosed U.S. Drug Enforcement Agency investigation targeting him and 14 others for suspicious money transfers possibly linked to illegal narcotics.
Judge permanently blocks release of Jack Smith's report on Trump documents case
A federal judge on Monday permanently blocked the Justice Department from releasing former special counsel Jack Smith's report on the classified documents investigation.
ICE whistleblower warns new recruits are receiving "defective" training
Documents given to Congress appear to show courses involving use-of-force were eliminated.
25 Mexican National Guard troops killed after cartel leader's death
Nemesio Rubén Oseguera Cervantes — known as "El Mencho" — was the boss of one of the fastest-growing criminal networks in Mexico.
Suspect in Nancy Guthrie case had been to the house before, source says
An image the FBI released of the suspect at Nancy Guthrie's front door, without a backpack, was captured by her Nest doorbell camera on a day prior to the suspected abduction.
Power outages reported, thousands of flights canceled as storm slams Northeast
More than 40 million people were under blizzard warnings along 700 miles of the East Coast from Maryland to Maine.
Anna Kepner's family says stepbrother charged in her death on cruise ship
Anna Kepner, 18, was on a Caribbean cruise with her father, stepmother and three stepsiblings when she was discovered dead on the Carnival Horizon in November.
U.S. women's hockey team declines State of the Union invitation
The U.S. women's ice hockey team said Monday they will not be attending President Trump's State of the Union address, citing scheduling conflicts.
U.S.
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Anna Kepner's family says stepbrother charged in her death on cruise ship
Anna Kepner, 18, was on a Caribbean cruise with her father, stepmother and three stepsiblings when she was discovered dead on the Carnival Horizon in November.
Suspect in Nancy Guthrie case had been to the house before, source says
An image the FBI released of the suspect at Nancy Guthrie's front door, without a backpack, was captured by her Nest doorbell camera prior to the night of her abduction.
Newsom's office slams "MAGA-manufactured outrage" as conservatives accuse him of bigotry
Newsom's remarks about his 960 SAT score went viral as he told Atlanta Mayor Andre Dickens and a packed auditorium: "I'm not trying to impress you, I'm just trying to impress upon you I'm like you, I'm not better than you."
Trump growing frustrated with limits of Iran military options, sources say
Military planners are advising President Trump that any strike on Tehran's assets would almost certainly not be a singular, decisive blow.
Peter Attia steps down as CBS News contributor
Dr. Peter Attia has stepped down from his CBS News contributor role weeks after crude emails he exchanged with Jeffrey Epstein were made public.
MoneyWatch
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FedEx sues Trump administration for "full refund" of tariff payments
FedEx sued the Trump administration over its tariffs on Monday, asking for a "full refund" of all payments it made to the government under a set of tariff policies that were ruled illegal by the Supreme Court.
Trump's Section 122 tariffs could spur new legal battle, experts say
President Trump's novel use of a 1974 trade law to impose a global 15% tariff could be ripe for legal challenges, according to trade experts.
Tariffs pose "huge uncertainty" after Supreme Court ruling, experts say
The Trump administration is unlikely to back down from pursuing additional tariffs following the Supreme Court decision, according to trade experts.
Dow closes down more than 800 points as AI and tariff risks rattle investors
Stocks slumped amid investor fear of AI disruption and uncertainty surrounding President Trump's new tariffs.
Here's how much the new "no tax on tips" deduction could save you
Workers who claim the new deduction will see an average tax cut of around $1,400, although some could realize larger savings.
Politics
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Texts show Rep. Gonzales sent explicit messages to staffer who later died by suicide
A newly revealed text exchange appears to show Republican Rep. Tony Gonzales encouraging an aide who later died by setting herself on fire to send him an explicit photo.
Newsom's office slams "MAGA-manufactured outrage" as conservatives accuse him of bigotry
Newsom's remarks about his 960 SAT score went viral as he told Atlanta Mayor Andre Dickens and a packed auditorium: "I'm not trying to impress you, I'm just trying to impress upon you I'm like you, I'm not better than you."
FedEx sues Trump administration for "full refund" of tariff payments
FedEx sued the Trump administration over its tariffs on Monday, asking for a "full refund" of all payments it made to the government under a set of tariff policies that were ruled illegal by the Supreme Court.
Trump growing frustrated with limits of Iran military options, sources say
Military planners are advising President Trump that any strike on Tehran's assets would almost certainly not be a singular, decisive blow.
Exclusive
DEA memo in Epstein files names him in a previously unknown investigation
A memo shows Jeffrey Epstein was the subject of a previously undisclosed U.S. Drug Enforcement Agency investigation targeting him and 14 others for suspicious money transfers possibly linked to illegal narcotics.
HealthWatch
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As more Americans embrace anxiety treatment, RFK Jr. derides medications
Robert F. Kennedy Jr. has criticized the broadening use of anxiety medications, but doctors and researchers say the MAHA movement is misrepresenting drugs that have been proven to help.
How safe is America from polio?
After decades of American children routinely receiving polio vaccines, the virus that had doomed many to paralysis was nearly eliminated in the United States. But vaccine avoidance today may allow the crippling disease to return.
How safe is America from polio?
After decades of American children routinely receiving polio vaccines, the virus that had doomed many to paralysis was nearly eliminated in the United States. But vaccine avoidance today may allow the crippling disease to return. CBS News chief medical correspondent Dr. Jonathan LaPook talks with David Oshinsky, author of "Polio: An American Story," and with violin virtuoso Itzhak Perlman, who contracted polio as a child, about how parents opting out of vaccinations for their children could affect polio rates here.
Robots can help amid nursing home staffing crisis
A growing, aging population and an acute caregiver shortage are pushing adult care centers to think outside the box. Itay Hod introduces a new, high-tech helper.
Cop's shortness of breath was the only sign of rare lung disorder
Travis Corbitt's struggles to breathe led to his retirement and reliance on an oxygen tank.
World
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Trump growing frustrated with limits of Iran military options, sources say
Military planners are advising President Trump that any strike on Tehran's assets would almost certainly not be a singular, decisive blow.
Woman in Tehran praises students for reigniting protests after bloody crackdown
As Iran's new academic year began over the weekend, large-scale protests erupted across several universities.
Tariffs pose "huge uncertainty" after Supreme Court ruling, experts say
The Trump administration is unlikely to back down from pursuing additional tariffs following the Supreme Court decision, according to trade experts.
DHS officials watch for response by US-based cartel networks after leader killed
Law enforcement is monitoring potential increases in violence, coercion or debt-collection activity in domestic trafficking corridors after cartel head "El Mencho" was killed Sunday.
Former U.K. ambassador to U.S. Peter Mandelson arrested
Former U.K. ambassador to the U.S. Peter Mandelson has been arrested weeks after a series of emails between him and the late convicted sex offender Jeffrey Epstein were released.
Entertainment
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Entertainment
Extended interview: Madison Beer
Madison Beer opens up about the start of her music career, artists who have inspired her along the way and creating her third studio album, "Locket," in an interview with CBS News senior culture correspondent Anthony Mason.
Nick Reiner pleads not guilty to murder
Nick Reiner pleaded not guilty in Los Angeles on Monday in the killing of his parents, Rob Reiner and Michele Singer Reiner. CBS News correspondent Carter Evans has more.
Nick Reiner pleads not guilty in the killing of his parents
Nick Reiner, 32, was charged with two counts of murder in the killing of his parents, Rob Reiner and Michele Singer Reiner.
Star Trek celebrates 60 years
CBS News' Dave Malkoff joins from Star Trek: The Cruise with Rob Picardo, who plays "The Doctor" in the series, to discuss how people are celebrating 60 years of the franchise.
Racial slur shouted during BAFTA awards by guest with Tourette's
Britain's film academy and the BBC apologized after a broadcast of the BAFTA awards ceremony that included an offensive outburst by an audience member with Tourette's syndrome.
Technology
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Technology
Robots can help amid nursing home staffing crisis
A growing, aging population and an acute caregiver shortage are pushing adult care centers to think outside the box. Itay Hod introduces a new, high-tech helper.
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.
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.
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.
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.
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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Anna Kepner's family says stepbrother charged in her death on cruise ship
Anna Kepner, 18, was on a Caribbean cruise with her father, stepmother and three stepsiblings when she was discovered dead on the Carnival Horizon in November.
Suspect in Nancy Guthrie case had been to the house before, source says
An image the FBI released of the suspect at Nancy Guthrie's front door, without a backpack, was captured by her Nest doorbell camera prior to the night of her abduction.
Utah author fatally poisoned husband to get his money, prosecutors say
Kouri Richins slipped five times the lethal dose of fentanyl into a cocktail that her husband drank, prosecutors say.
Nick Reiner pleads not guilty in the killing of his parents
Nick Reiner, 32, was charged with two counts of murder in the killing of his parents, Rob Reiner and Michele Singer Reiner.
Officials probe killing at Mar-a-Lago
An armed man was shot and killed after gaining "unauthorized entry" into Mar-a-Lago, President Trump's Florida estate, the Secret Service said. The shooting occurred as FBI Director Kash Patel attended the Winter Olympics in Italy. CBS News' Scott MacFarlane reports.
Space
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NASA to start slow-moving process returning moon rocket to hangar this week
The space agency said Sunday it's targeting Tuesday for the slow, four-mile trek across Kennedy Space Center, weather permitting.
NASA's moon rocket hit by new problem, flight pushed to April
The Artemis II mission aims to send four astronauts — Reid Wiseman, Victor Glover, Christina Koch and Canadian astronaut Jeremy Hansen — on a flight around the far side of the moon and back.
Report criticizes NASA Boeing Starliner trip
An internal investigation is blasting NASA's handling of the first piloted flight of Boeing's Starliner spacecraft in 2024. The flight left two astronauts stuck on the International Space Station for nearly a year. The investigation found the flight was plagued by potentially life-threatening technical and management failures.
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.
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
Getting organized for the biggest tax refund
Just getting started on your taxes? Erin Voisin, managing director for EP Wealth Advisors, joins CBS News to discuss what to do for the biggest refund.
Breaking down Mamdani's response to blizzard
Less than two months into his tenure as New York City mayor, Zohran Mamdani is responding to a second major snowstorm. CBS News reporter Jared Ochacher has more.
Report: Student loan delinquencies spiking
Nearly 43 million Americans have federal student loans, according to the latest data from Congress. Now, a new report from left-leaning advocacy think tanks the Century Foundation and Protect Borrowers has found one out of every four Americans with student loans is delinquent. Data from the University of California Consumer Credit Panel was used for the analysis. Washington Post national higher education reporter Danielle Douglas-Gabriel joins CBS News to discuss.
More U.S.-Iran talks set for Thursday
The State Department has ordered non-essential staff to leave its embassy in Beirut, Lebanon, amid rising tensions in the Middle East. Indirect talks between the U.S. and Iran are set to be held in Geneva this Thursday. Osamah Khalil, chair of the International Relations Program at Syracuse University, joined CBS News to discuss.
USA men's hockey sparks patriotic pride after win
The U.S. men's hockey team beat Canada 2-1 in overtime in a thrilling Olympic final game. Tony Dokoupil has more on the patriotic pride they inspired.