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The Dow fell 460 points Friday as a leading indicator of a US recession and concern about a global slowdown spooked investors.The index shed 1.8%, while the S&P 500 closed down 1.9%. The Nasdaq plunged 2.5%. It was the worst performance for all three major indexes since January 3.The yield on 3-month Treasuries rose above the rate on 10-year Treasuries for the first time since 2007 — a shift that scared Wall Street. Investors have piled back into stocks after a sell-off in late 2018.The flattening yield curve, or the difference between short- and long-term rates, has worried investors for months. A narrowing spread is typically seen as sign that long-term confidence in the economy is waning, which could signal an eventual economic contraction.Friday's flip added to pressure on the Dow that was building before US markets opened.The index stumbled at the bell on poor manufacturing data from Germany, which also spelled trouble for the country's bond market. The yield on Germany's benchmark 10-year government bond fell below zero for the first time since October 2016.All of that news is fueling Wall Street's ongoing concerns about slowing global growth.White House economic adviser Larry Kudlow told CNBC last year that the spread between 3-month and 10-year Treasury yields was important to watch."It's actually not 10s to 2s; it's 10s to 3-month Treasury bills," Kudlow 1402
The House of Representatives voted on Wednesday to hold Attorney General William Barr and Commerce Secretary Wilbur Ross in criminal contempt over a dispute related to the Trump administration's efforts to add a citizenship 236

Thanksgiving Day has come and gone — but the holiday weather nightmare is not over just yet.As millions of holiday travelers head back home over the weekend, rain and snow will sweep through the Midwest on Saturday then push into the Northeast on Sunday into Monday, CNN meteorologist Haley Brink said.The storm system will cause widespread weather-related hazards through the Thanksgiving weekend as it tracks west to east across the lower 48, the 460
The Michigan attorney general's department sent a cease and desist letter to Menards after receiving multiple complaints about price-gouging.Dana Nessel says that her office received 18 complaints from consumers about face masks, bleach and other products being sold at high prices.The AG's office says that investigators have found that Menards allegedly "appears to be exploiting public fear about coronavirus" by raising prices.Nessel says investigators reportedly discovered that last week, the store allegedly doubled the price of cleaning products like bleach and significantly raised the price of face masks while tying their purchase to an in-store rebate.The AG's office began receiving complaints about Menards last week. “Big box stores are not immune to the Michigan Consumer Protection Act or the Governor’s Executive Order,” Nessel said in a press release. “Large corporations must also play by the rules, and my office will work diligently to ensure this state’s consumers are treated fairly and not abused by businesses seeking to unlawfully jack prices up to line their pockets with profits at the expense of the public during this time of great need.”Menards will have 10 days to respond to the cease and desist letter, or the AG's office could potentially take legal action. 1305
The Federal Reserve on Wednesday voted to raise interest rates despite new signs of economic softening and weeks of market volatility.Central bankers unanimously agreed under Chairman Jerome Powell to lift the federal funds rate, which controls the cost of mortgages, credit cards and other borrowing, to a range of 2.25% and 2.5%.Interest rates have increased seven times since President Donald Trump took office. Four of those increases have been under Powell.The policy decision comes even as Trump called on the Fed to move cautiously "before they make yet another mistake," shortly before policy makers began their two-day policy-setting meeting in Washington on Tuesday. 688
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