Money

By Paul R. La Monica, CNN Business Tech stocks have been obliterated this year. The Nasdaq is down more than 26%, putting that index in a bear market. Unfortunately for investors, analysts at Goldman Sachs see more pain ahead for some (but not all) tech heavyweights. Goldman Sachs analysts downgraded shares of Netflix, eBay and

By Nathaniel Meyersohn, CNN Business Online clothing retailer Stitch Fix will lay off 15% of its salaried staff — around 330 employees — amid slowing e-commerce growth across the retail sector. Stitch Fix, an online styling service launched in 2011, boomed a year ago but has struggled this year as more shoppers head to stores

By Gregory Wallace Federal investigators are expanding their probe of Teslas that have slammed into parked first responders’ vehicles. The National Highway Traffic Safety Administration said Thursday its investigation now encompasses 830,000 vehicles with similar driver assist technology. Investigators have reviewed approximately 200 Tesla crashes and are focusing on 16 crashes involving emergency or road

By Tami Luhby, CNN Americans’ wealth took a nosedive early this year as the stock market plummeted. The net worth of households and nonprofit organizations dropped $0.5 trillion to $149.3 trillion in the first quarter, according to Federal Reserve Bank data released Thursday. That’s a notable turnaround from the robust gains in wealth that began

By Oliver Darcy, CNN Business A New York State judge on Wednesday dismissed a lawsuit filed last year against Michael Corn, the former “Good Morning America” boss who was accused of sexual assault in a case that rocked ABC News and left staffers up in arms. Judge Barbara Jaffe ruled that the statute of limitations

Opinion by Mark Zandi for CNN Business Perspectives Consumer inflation figures for May will be out Friday, and the report is sure to be disquieting. Gasoline prices are seemingly breaking new record highs on almost a daily basis, food costs are soaring, and housing is becoming increasingly unaffordable. The persistence of high inflation in the

By Paul R. La Monica, CNN Business Most chief executive officers, when asked if their firm is for sale, would give a boring, lawyer-approved response about how their company does not comment on rumors or speculation. Not Credit Suisse’s Thomas Gottstein. When asked at a Goldman Sachs conference Thursday about chatter circulating on Wall Street

By Chris Isidore, CNN Business The two new Air Force One jets currently being built by Boeing are facing costly delays. Now there is a new potential problem to contend with: the paint job that former President Donald Trump ordered. Trump had criticized the jet’s current color scheme, which has changed little since the Kennedy

By Christine Romans, CNN Business More than 200 business leaders, representing employees in all 50 states, sent a joint letter to the Senate on Thursday, demanding “bold urgent action” to address gun violence in the wake of the killing of 19 children and two teachers at Robb Elementary School in Uvalde, Texas last month. “Like

By Anna Cooban, CNN Business A fire at one of the world’s biggest suppliers of liquefied natural gas has thrown Europe’s fragile energy security into doubt and spooked global gas markets. Freeport LNG, a liquefied natural gas (LNG) producer in Texas, will shut its doors for at least three weeks, the company confirmed to CNN

By Jeanne Sahadi, CNN Business The latest “crypto winter,” which sent the values of Bitcoin and other digital currencies plummeting, served as a healthy reminder that cryptocurrencies are highly risky investments. But that risk is by no means limited to price volatility. Should the company holding your crypto assets declare bankruptcy or otherwise be unable