The stock market fell the most since June 2020 following Wall Street’s humbling realization that inflation is not slowing as much as hoped. The Dow lost more than 1,250 points and the S&P 500 sank 4.3%. A hotter-than-expected report on inflation Tuesday has traders bracing for the Federal Reserve to ultimately raise interest rates even higher than expected, with all the risks for the economy that entails.
Freight railroads and their unions are facing increasing pressure from business groups and the White House to settle their contract dispute. They face a looming strike deadline on Friday.
Ukrainian troops are piling pressure on retreating Russian forces, pressing a counteroffensive that has produced major gains and a stunning blow to Moscow’s military prestige.
Upending the midterm elections, Republican Sen. Lindsey Graham has introduced a nationwide abortion ban. The bill would prohibit abortions after 15 weeks of pregnancy, except in cases of rape, incest or danger to the physical health of the mother.
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Income inequality in the U.S. increased last year for the first time in more than a decade. But childhood poverty was cut almost in half due to expansion of the federal government’s child tax credit and stimulus payments made in response to the COVID-19 pandemic.
Former New York Gov. Andrew Cuomo has filed an ethics complaint against state Attorney General Letitia James, reiterating his oft-repeated concerns about a sexual harassment investigation that led to his resignation last year.
A congressional oversight committee has requested an assessment from the National Archives on whether presidential records removed by former President Donald Trump remain unaccounted for and potentially in his possession.
The State Department says Russia has covertly spent more than $300 million since 2014 to try to influence politicians and other officials in more than two dozen countries.
Highly influential French film director Jean-Luc Godard has died at age 91. His family said in a statement that Godard died peacefully and surrounded by his loved ones on Tuesday at his home in the Swiss town of Rolle, on Lake Geneva.
Philadelphia rapper PnB Rock was fatally shot during a robbery in South Los Angeles. PnB Rock is best known for his 2016 hit “Selfish.†He released his latest song, “Luv Me Again,†on Sept. 2.
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