Money

By Anna Bahney, CNN Business Home sales fell for the third consecutive month in April as rising mortgage rates and affordability challenges pushed many would-be home buyers out of the market. Still, prices continued to climb, reaching an all-time high. The median price of a home in April was a record $391,200, rising 14.8% from

By Anna Bahney, CNN Business Mortgage rates fell slightly last week, but purchasing a home still remains difficult for many prospective buyers. The 30-year, fixed-rate mortgage averaged 5.25% in the week ending May 19, down from 5.30% the week before, according to Freddie Mac. It is still well above the 3% average from this time

By Paul R. La Monica, CNN Business The 2022 stock market meltdown may not be over just yet. Stocks fell again Thursday, following Wednesday’s massive sell-off. The Dow ended the day down more than 235 points, or 0.8%, recovering only slightly from a drop of nearly 475 points earlier in the session. The blue chips

By Julia Horowitz, CNN Business Shares of retailers were pummeled on Wednesday as investors dug through the latest earnings results from Target and Walmart, which were flush with signs that the economy is entering a period of deep uncertainty. What’s happening: Inflation is already causing consumers to pull back spending on some items as they

By Laura He, CNN Business Asian markets mostly closed lower on Thursday and European indexes slid in early trade following a rough day on Wall Street. Hong Kong’s Hang Seng tumbled 2.5%, leading losses in the region. Japan’s Nikkei also dropped nearly 2%. China’s Shanghai Composite Index fell as much as 1.4% before reversing in

By Esha Mitra, CNN India’s top court on Wednesday granted the release of a man convicted of killing former Indian Prime Minister Rajiv Gandhi, 31 years after his imprisonment. The Supreme Court invoked extraordinary powers to release A. G. Perarivalan, his attorney told CNN. Perarivalan was arrested a few weeks after Gandhi was assassinated in

By Matt McFarland, CNN Business The S&P 500 index devoted to highlighting companies excelling at ESG, which stands for environmental, social and governance issues, has removed Tesla from the index, it explained in a blog post published on Tuesday. The move comes in the wake of allegations of racial discrimination and poor working conditions at

By Nicole Goodkind, CNN Business JP Morgan Chase investors on Tuesday voted down a multimillion-dollar payout for CEO Jamie Dimon. The pay proposal they rejected included a massive $52.6 million retention bonus as part of Dimon’s 2021 compensation package, just months after the bank’s board approved the incentive. With the bonus, Dimon’s total compensation was

By Danielle Wiener-Bronner, CNN Business Wingstop wants to lower its food supply costs. So it’s considering raising its own chickens. Restaurant brands like Wingstop have struggled with their supply chains in recent years, as the Covid-19 pandemic, extreme weather and the war in Ukraine, among other factors, have tightened food supplies and sent prices soaring.

By Matt Egan, CNN Business Treasury Secretary Janet Yellen on Wednesday signaled US officials will likely end a carve-out in Western sanctions that has allowed Russia to continue make payments on its debt. Speaking at a press conference in Germany, Yellen said it is “reasonably likely” to expect the license will be allowed to expire

By Matt Egan and Alicia Wallace, CNN Business US Treasury Secretary Janet Yellen on Wednesday criticized the Trump administration’s tariffs on China and voiced support for lifting some of the levies, in part to ease very high inflation pressuring the US economy. “Some of the tariffs that were imposed by President Trump in retaliation for