Stocks drop after lowest close since 2020

New York CNN Business  —  So much for turnaround Tuesday on Wall Street. Stocks fell in midday trading after rallying at the open, signaling that the market could extend its five-day losing streak and pushing the Dow further into a bear market. The Dow fell about 150 points, or 0.6%, in midday trading. The S&P … Read more

New home sales bounce back in August

New home sales bounced back in August despite high prices and rising mortgage rates that have pushed some buyers away. Sales of newly constructed homes jumped 28.8% in August from July and were down just 0.1% from a year ago, according to a joint report from the US Department of Housing and Urban Development and … Read more

Take no prisoners: In the Fed’s inflation fight, no one is spared

New York CNN Business  —  Call it the “Take No Prisoners” economy. Recession worries are deepening around the world. Mortgage rates are spiking and housing is stalling. The Dow is at a two-year low and near a bear market. Global central banks are jacking up interest rates with no end in sight until high inflation … Read more

DOJ declares seized Mar-a-Lago materials list full and accurate despite Trump’s claims of planted evidence

CNN  —  The Justice Department submitted, as part of the special master review of the Mar-a-Lago search, a slightly revised inventory of the materials seized in the search, along with an FBI affidavit indicating that the new inventory fully reflects what was taken. The special master, Judge Raymond Dearie, had requested that the Justice Department … Read more

CBO says Biden’s student loan cancellation plan could cost $400 billion

Washington CNN  —  President Joe Biden’s plan to cancel up to $20,000 in federal student loan debt for low- and middle-income borrowers could cost $400 billion, according to a Congressional Budget Office report released Monday. Biden announced the forgiveness plan in August, after facing mounting pressure from progressives to broadly cancel some student loan debt. … Read more

Live updates: Stock market, Dow, S&P 500 and more

Traders work on the floor of the New York Stock Exchange during afternoon trading on September 13.(Michael M. Santiago/Getty Images) September has been a miserable month for the stock market. Investors are nervous about the Federal Reserve’s aggressive interest rate hikes potentially leading to a recession. Economic and political turmoil in the UK and Europe … Read more

British pound plummets to record low against the dollar

CNN Business  —  The British pound fell to a new record low against the US dollar of $1.035 on Monday, plummeting more than 4%. The slide came as trading opened in Asia and Australia on Monday, extending a 2.6% dive from Friday — and spurring predictions the pound could plunge to parity with the US … Read more

Food prices are soaring, and that’s changed how we eat

New York CNN Business  —  Lisa Altman used to take pride in being able to eat what she wanted without worrying much about the cost. When she was growing up, seconds weren’t served and side dishes were rare. “My mom had a budget every week, and she stuck to it,” she said. “As I got … Read more

UK’s mini budget slashes taxes and borrows heavily as recession hits

London CNN Business  —  A huge gamble by the UK government aimed at rescuing the economy from recession and boosting long-term growth sent the pound plunging on Friday. Announcing the biggest tax cuts in 50 years at the same time as boosting spending, Finance Minister Kwasi Kwarteng said the government needed a “new approach for … Read more

Is the pandemic over? We asked an economist, an education expert and a public health scholar their views

Editor’s Note: The views expressed in this commentary are solely those of the writers. CNN is showcasing the work of The Conversation, a collaboration between journalists and academics to provide news analysis and commentary. The content is produced solely by The Conversation. President Joe Biden’s declaration that “the pandemic is over” raised eyebrows and the … Read more