Stocks slumped and bond yields moved sharply higher after a hot reading on inflation led to greater expectations that the Federal Reserve will have to move forcefully to cool down the economy.
Inflation soared over the past year at its highest rate in four decades, hammering America’s consumers, wiping out pay raises and reinforcing the Federal Reserve’s decision to begin raising borrowing rates.
Hyundai and Kia are telling the owners of nearly 485,000 vehicles in the U.S. to park them outdoors because they can catch fire even if the engines are off.
Apple said Tuesday it is expanding the iPhone's capabilities to accept contactless payments, making it easier for merchants to conduct tap-to-pay transactions without having to buy additional hardware.
The Justice Department has announced its largest-ever financial seizure — more than $3.5 billion — and the arrests of a New York couple accused of conspiring to launder billions of dollars in cryptocurrency.
The co-founder of Peloton is stepping down as chief executive after an extended streak of tumult at the company, which will also cut almost 3,000 jobs.
