*By Kristen Lee*
U.S. stocks accelerated losses at the end of the day Wednesday, with the Dow dropping 600 points and the Nasdaq on pace for its biggest monthly drop in a decade.
The Dow Jones Industrial Average closed the day down 608 points, the S&P lost more than 3 percent, and the tech-heavy Nasdaq lost nearly 4.5 percent.
The sell-off was driven in part by a Commerce Department report that home sales plunged 5.5 percent in September, which rattled investors who expected only a slight decline.
Tech stocks especially weighed on markets. Netflix ($NFLX) and chipmaker Nvidia ($NVDA) were both down nearly 10 percent, Facebook ($FB), down nearly 6 percent, and Google parent Alphabet ($GOOGL), down more than 5 percent.
With only a few days until Christmas, people are still scrambling to buy gifts for friends and family. Claudia Lombana, consumer and shopping expert, joined Cheddar News to provide tips on how to budget for those gifts.
With the New Year around the corner, it's time to start thinking about resolutions. Many folks begin to think about saving money or cutting down on bills. Caleb Silver, editor-in-chief of Investopedia, joined Cheddar News to provide some tips on tracking debt and staying organized.
Half of U.S. states are raising their minimum wage next year.
Sony's PlayStation 5 console has now passed 50 million units sold.
FedEx decreased its full-year revenue forecast after reporting lower-than-expected quarterly profits in its latest results.
Cora is among dozens of young kids across the U.S. poisoned by lead linked to tainted pouches of the cinnamon-and-fruit puree
The IRS said Tuesday it is going to waive penalty fees for people who failed to pay back taxes that total less than $100,000 per year for tax years 2020 and 2021.
Rite Aid has been banned from using facial recognition technology for five years over allegations that a surveillance system it used incorrectly identified potential shoplifters, especially Black, Latino, Asian or female shoppers.
The union representing Southwest Airlines pilots says it reached a new contract agreement in principle with the airline following three years of negotiations.
U.S. Bank has been hit with a $36 million fine for freezing debit cards that distributed unemployment benefits during the pandemic.
