Political | Process

The S&P 500 fell 3.2%, while the Dow Jones Industrial Average dropped 2.4%, or about 750 points. The Nasdaq Composite slumped 4% as shares of big tech companies retreated. If the Dow industrials close below 30000—it was recently a bit below that level—it would be the first time since January…

Joe Biden announced another $1 billion in weapons for Ukraine on Wednesday, including anti-ship systems – artillery rockets and rounds for howitzers. “This morning, I spoke with President Zelenskyy to discuss Russia’s brutal and ongoing war against Ukraine. I reaffirmed my commitment that the United States will stand by Ukraine…

Flores, who had 51% of the vote to Democratic candidate Dan Sanchez’ 43% when The Associated Press called the race. Rising Republican star Mayra Flores beat out Democratic challenger Dan Sanchez on Tuesday in a special election to finish Democratic Rep. Filemon Vela’s current term in South Texas, a competitive…

Democratic and Republican negotiators’ aim to get a package to the Senate floor as soon as next week. “If the legislation ends up reflecting what the framework indicates, I’ll be supportive,” Mr. McConnell told reporters Tuesday. “It’s a step forward on a bipartisan basis,” he said, praising the work of…

Markets are beginning to anticipate an even faster pace of interest rate hikes, and Federal Reserve officials apparently are contemplating the possibility as well. Central bank policymakers are entertaining the idea of a 75 basis point increase to the Fed’s benchmark funds rate that banks charge each other for overnight…

The company said Tuesday it will reduce its workforce by 1,100 employees, or about 18% of its staff, as part of its efforts to manage operating expenses. In a letter to all employees, Chief Executive Brian Armstrong said “our employee costs are too high to effectively manage this uncertain market.” “We…

Earlier today, the RealClearPolitics average of the polls it studies fell to 39% – the lowest of his presidency. And those are the high points for Biden. The authoritative Quinnipiac University poll put its presidential approval survey Wednesday at just 33% for Biden, tying his low for that outfit. Then there was the Zogby…

The S&P fell 3.2% in early trading Monday. If the loss holds to the market’s close, the broad index would fall into a bear market for the first time since 2020. Markets have swung this year as investors assessed the risks of surging inflation and central bankers’ plans for unwinding…

The bipartisan group of senators said on Sunday that they were working to write legislation that would give more funding to mental-health programs and school security. “Our plan saves lives while also protecting the constitutional rights of law-abiding Americans. We look forward to earning broad, bipartisan support and passing our…

Consumers’ grocery bills have risen by an annual rate of more than 10% since earlier this year. High inflation is a downside of strong U.S. growth, fueled in part by low interest rates and government stimulus to counter the Covid-19 pandemic’s impact. The annual rate of inflation has risen sharply…