TheDailyBeast

Fears of an impending U.S. recession sent the Dow Jones Industrial Index tumbling more than 1,000 points in early trading Monday and triggered a panic sell-off in financial markets around the world.Wall Street went into meltdown with the S&P 500 down 4 percent and Nasdaq dropping 5.5 percent. The Dow Jones slipped 3 percent, or 1,197 points by 9.35 a.m. Eastern.Earlier, the FTSE 100 index in London fell by 2.1 percent, and it was followed by the Nikkei 225 in Japan plunging by 12.4 percent, or 4,451 points, the biggest one-day points drop in history.In Paris, the CAC-40 fell by...

Stock Markets Crash Worldwide Over Fears of U.S. Recession

TheStreet

Markets end lower as investor seem to think the Fed has waited too long to cut rates. And they sold stocks hard in response.

Stock Market Today: Stocks crushed as markets see Fed rate error

People are leaving New Zealand in record numbers as unemployment rises, interest rates remain high and economic growth is anemic, government statistics show. Data released by Statistics New Zealand on Tuesday showed that 131,200 people departed New Zealand in the year ended June 2024, provisionally the highest on record for an annual period. Around a third of these were headed to Australia.

People leave New Zealand in record numbers as economy bites

Stocks jumped Tuesday morning as wholesale inflation data rose less than expected, giving investors confidence that inflation is cooling off. The Producer Price Index (PPI), a gauge of wholesale prices, rose by 0.1% in July, below the 0.2% anticipated by economists. Year-over-year, the headline PPI climbed 2.2%, down from June’s 2.7% rise, the Labor Department’s Bureau of Labor Statistics reported.

The Dow closes 400 points higher as wholesale inflation cools

Veteran investor David Roche expects a bear market in 2025, caused by smaller-than-expected rate cuts, a slowing U.S. economy and an AI bubble. Those factors could cause a bear market of minus 20% in 2025, maybe starting at the end of this year, but the Fed will have room to adjust, he added.

Bear market is coming in 2025, warns David Roche, but the Fed will step in before it turns 'draconian'

A "record-breaking backlog" of pending actions has led to an estimated $1.1 billion in improper beneficiary payments, according to a new report. Experts say the Social Security Administration needs more funding in its budget to properly address a "customer service crisis." The Social Security Administration faces a "record-breaking backlog" of...

'Record-breaking backlog' leads to $1.1 billion in improper Social Security payments, report finds

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NewsNinja

A lady is cautioning others about purchasing budget earrings from Amazon, Shein, and H&M, after she experienced keloid formations on her earlobes due to wearing them. On a TikTok post that has garnered more than 334,000 likes, Sailor Rozema (@sailor.rozema), a content creator, shares a warning with her community of "dangly earring girls": the inexpensive jewelry found in fast fashion can have negative impacts on your well-being.

‘I’ll never be wearing earrings for the rest of my life’: Customer warns against buying from Shein

Editor's Note: APYs listed in this article are up-to-date as of the time of publication. They may fluctuate (up or down) as the Fed rate changes. CNBC Select will update as changes are made public. If you have a long-term savings goal, like saving up for a down payment on...

Best 5-year CD rates of August 2024 (up to 4.75% APY)

Chris Horvers, JPMorgan analyst, joins 'Closing Bell Overtime' to talk what to expect from Walmart earnings and other retail trades.

The consumer 'paused' in July, low-end consumer is weakening, says JPMorgan's Chris Horvers

Writers represent independent, third-party users who have joined our contributor program and self-verified their accounts. Writers are expected, like all users, to adhere to our Community Standards.

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J. Souza

A retired military officer who had been struggling with post-traumatic stress disorder (PTSD) tragically died after jumping from the world’s largest cruise ship last month, authorities confirmed.

Cruise Passenger Who Jumped from World's Largest Ship After Dispute Suffered with PTSD

Contributors represent independent, third-party users who have joined our contributor program and self-verified their accounts. They have also demonstrated their experience writing hard news for other outlets. Contributors are expected, like all users, to adhere to our Community Standards.

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The Current GA

Since 2020, the condition known as long COVID-19 has become a widespread disability affecting the health and quality of life of millions of people across the globe and costing economies billions of dollars in reduced productivity of employees and an overall drop in the work force .

Expert: Long COVID puzzle pieces are falling into place – picture is unsettling

Chipotle stock fell as much as 10% on Tuesday as the company announced CEO Brian Niccol would be leaving his role on Aug. 31 to become CEO of. Niccol began as Chipotle CEO in March 2018. Chipotle stock has risen more than 770% since he took over. Chipotle's board named...

Chipotle stock falls as CEO Brian Niccol leaves for Starbucks

The foods in your daily diet play a major role in how healthy you are and how long a life you live. In fact, one of the key practices of people living in blue zones is eating a diet of mostly plant-based foods of fruits, vegetables and nuts. In past...

100-year-olds share what they always eat—and what they never do: 'I don't drink soda at all'

CNBC's Deirdre Bosa joins 'The Exchange' to discuss the latest developments happening in technology.

Google AI & device event underway: Here's what to know

Provo, UT

Black Enterprise

Americans expect it to average 2.3% over the next three years. Americans have been feeling the impacts of inflation for some time. Now, they’re getting fed up with the higher prices. Consumers are looking for bargains or simply refusing to buy items they feel are too expensive, which economists say could drive prices back to pre-pandemic levels.

Fed Up With High Prices, Consumers Are Helping To Bring Down Costs Associated With Inflation

San Francisco, CA

CNBC's TechCheck brings you the latest in tech news from CNBC's 1 Market in the heart of San Francisco.

CNBC TechCheck Evening Edition: August 13, 2024

Chicago, IL

Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

Macy's will set off a wave of change at malls, as it closes about 150 namesake stores across the country by early 2027. The department store operator has long been a mall anchor, with stores that range between 200,000 and 225,000 square feet. Mall owners could convert the former Macy's...

Apartments, hockey rinks and Amazon warehouses: Macy's closures will set off a wave of change at shopping malls

WASHINGTON -- Wholesale price increases in the United States eased in July, suggesting that inflation pressures are further cooling as the Federal Reserve moves closer to cutting interest rates, likely beginning next month. The Labor Department reported Tuesday that its producer price index — which tracks inflation before it reaches...

US wholesale inflation cooled in July in sign that price pressures are continuing to ease

Gold prices rose by more than 1% on Monday to hit the highest since Aug. 2, driven by safe-haven inflows as traders awaited U.S. inflation data this week that could shed more light on the Federal Reserve's interest rate cut path. Spot gold rose over 1% to $2,458.25 per ounce...

Safe-haven demand lifts gold to highest in 10 days; U.S. data in focus

NewsBreak

Asia-Pacific markets mixed as RBNZ cuts cash rate; Nikkei rises as Kishida to step down in September

The U.S. producer price index — a measure of wholesale inflation — climbed 0.1% last month, compared to expectations of a 0.2% rise. Business sentiment at...

Asia-Pacific markets mixed as RBNZ cuts cash rate; Nikkei rises as Kishida to step down in September

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