The declines come a day after the Federal Reserve raised interest rates by the most in over two decades as it embarks on a high-stakes fight to bring down inflation.
Markets jumped after Fed Chair Jerome Powell said the central bank was not contemplating bigger rate hikes than the half-a-percentage-point increase it delivered on Wednesday.
The Federal Reserve raised interest rates by half a percentage point Wednesday, in an effort to cool off demand and lower inflation. Consumer prices have been rising at the fastest pace in 40 years.
The federal rental aid program expects to distribute the rest of its money by mid-summer. Some cities have already run out of funding, pushing eviction filings higher than before the pandemic.
On an investor call, Starbucks interim CEO Howard Schultz said the company was investing $1 billion to raise wages, enhance benefits and modernize stores. But unionized stores won't get some of that.
The Federal Reserve is expected to approve its largest interest rate hike in more than two decades this week. Additional rate increases are likely, as the Fed tries to regain control over inflation.
From New York City to Turkey, activists and workers seized this International Workers' Day as a moment to push for greater worker protections and changes to immigration policies.
What springs to mind when you hear May Day? In the U.S. and abroad, the day has grown to encompass a spectrum of meanings. But the themes have remained the same: worker unity, suppression and rebirth.
Texas closed most public oyster reefs for harvesting, dealing a blow to the fishing industry. "It's taken a big toll on me," says Johny Jurisich, whose family has worked in the business for decades.