Business News

(NEW YORK) -- A 10% global tariff took effect on Tuesday, marking the first duty enacted by President Donald Trump after a recent Supreme Court decision invalidated most of his levies.Within hours of the high court's ruling on Friday, Trump signed an executive order imposing a 10% tariff on nearly all imports for up to 150 days. The directive called for enforcement of the duty to begin at 12:01 a.m. […]

Photo of Wall Street (Matteo Colombo/Getty Images) (NEW YORK) -- Stocks slid on Monday morning in the first trading session since President Donald Trump announced a new 15% tariff on most imported goods, intensifying his effort to impose levies that were struck down by the Supreme Court.The Dow Jones Industrial Average fell 90 points, or 0.1%, while the S&P 500 dropped 0.1%. The tech-heavy Nasdaq declined 0.1%.Cryptocurrency prices tumbled in […]

(NEW YORK) -- The U.S. economy slowed more than expected over the final months of 2025, federal government data on Friday showed.The economy grew at an annualized rate of 1.4% in the fourth quarter in the government's initial estimate, marking a cooldown from blistering-hot 4.4% growth recorded in the previous quarter.The slowdown at the end of last year stemmed in part from a decline in the pace of consumer spending, the U.S. Commerce […]

(LOS ANGELES) -- A landmark trial over social media addiction has drawn fresh scrutiny to a decades-old legal shield: Section 230.The case, which began last Monday in Los Angeles County Superior Court, centers on claims against Meta -- the parent company of Facebook and Instagram -- and YouTube, which is owned by Google. Plaintiffs argue the companies knowingly built features that encouraged compulsive use among young users, contributing to long-term […]

(NEW YORK) -- Some Verizon customers were experiencing a service outage on Wednesday afternoon, according to the company.Verizon said it was not immediately clear how long the service would be down."We are aware of an issue impacting wireless voice and data services for some customers," Verizon said in a statement to ABC News. "Our engineers are engaged and are working to identify and solve the issue quickly. We understand how […]

(WASHINGTON) -- Mark Zuckerberg took the stand on Wednesday in a landmark Los Angeles trial alleging that major social media platforms were intentionally designed to be addictive for children and teens.The case, which began last Monday in Los Angeles County Superior Court, centers on claims against Meta -- the parent company of Facebook and Instagram -- and YouTube, which is owned by Google. Plaintiffs argue the companies knowingly built features that encouraged compulsive […]

(NEW YORK) -- A thaw in the housing market may deliver relief for homebuyers left out in the cold over recent years, analysts told ABC News.After the pandemic, a rapid rise in home prices coincided with stubbornly high mortgage rates, shutting out potential buyers.Glimmers of hope have started to emerge, however. Mortgage rates are falling, wages are rising faster than home prices and homebuyers are scooping up their biggest discounts […]

(WASHINGTON) -- Mark Zuckerberg is set to testify Wednesday in a landmark Los Angeles trial alleging that major social media platforms were intentionally designed to be addictive for children and teens.The case, which began last Monday in Los Angeles County Superior Court, centers on claims against Meta -- the parent company of Facebook and Instagram -- and YouTube, which is owned by Google. Plaintiffs argue the companies knowingly built features […]

(NEW YORK) -- An inflation report on Tuesday is set to provide a key gauge of the nation’s economy, just days after reports of a Department of Justice probe into Federal Reserve Chair Jerome Powell brought fresh scrutiny to the independence of the central bank and its capacity to manage price increases.Economists expect year-over-year inflation to have been left unchanged at 2.7% in December. Inflation stands at its lowest level […]