>>Watching Wall Street
(New York, NY) -- The opening bell rings this morning on Wall Street after Friday's sharply lower close capped a volatile trading week. Stocks fell as tariff and inflation fears weighed on markets. A steep drop in consumer sentiment for February and the latest jobs data added to the downward pressure. At the closing bell, the Dow Jones Industrial Average fell 444 points to 44-303. The S&P 500 lost 57 points to 60-25. The Nasdaq dropped 268 points to 19-523.
>>In The Business Week Ahead
(Undated) -- Coming up in the business week ahead, things get off to a slow start today with no major economic reports to speak of. Fast forward to Tuesday and Fed Chair Jerome Powell opens two days of testimony before Congress, focusing on the state of the economy. The consumer price index, the Fed's go-to inflation gauge, is due the following day. The producer price index comes out Thursday along with weekly jobless claims and retail sales bring the week to a close on Friday.
>>Chinese Tariffs In Effect
(Beijing) -- Chinese tariffs on some American goods are now in effect, as President Trump continues to threaten trade wars with allies and rivals alike. China's retaliatory import taxes include 15 percent on coal and liquified natural gas, along with a 10 percent tariff on oil, farm equipment and large-engine cars. China is also imposing export controls on several rare earth metals, critical components of electronic and military equipment. Earlier this month Trump announced a 10 percent tariff on all Chinese products. Sunday night, Trump said he would be enacting 25 percent tariffs on all steel and aluminum imported to the U.S.
>>CFPB Ordered To Stop Work
(Washington, DC) -- The Consumer Financial Protection Bureau has been ordered to stop all work. In an email Saturday night from Acting Director Russell Vought, all supervision and examination activity will cease unless he approves it or if it's required by law. The bureau's aim is to protect consumers from unfair, deceptive or abusive practices.
>>T-Mobile Offers Starlink Connectivity
(Bellvue, WA) -- T-Mobile says customers with its most expensive plan, Go5G, will get access to satellite-to-phone connectivity using SpaceX's Starlink starting this July. It'll be free for those customers and 15-dollars a month for all others. The company is also offering the service to AT&T and Verizon customers for 20 dollars a month.
>>Survey: Many Workers Will Call In Sick After The Super Bowl
(New Orleans, LA) -- Employers can expect a lot of people to call in sick today following the Super Bowl. A survey from Paycom collected data from over six-million employees who requested sick days after the Super Bowl. It found that in 2024, there were 63-percent more sick day requests on the day after the game than on the average day last year. It also found over 90-percent of managers at U.S. companies approved sick days for employees after the game, accounting for the second-highest percentage of approved sick days in 2024.
>>Trader Joe's Limits Egg Purchases At All Stores
(Monrovia, CA) -- Trader Joe's is limiting customers' egg purchases at all stores. A spokesperson for the grocery chain says it's limiting them to one dozen per customer, per day, due to "ongoing issues with the supply." On the grocer's website, one dozen pasture-raised, large brown eggs costs about five-dollars.
