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Nikkei Slumps by Up to 6% in Volatile Trade

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  • IRS Official Denies Wrongdoing, Invokes Fifth Wednesday, 22 May 2013 | 10:48 AM ET
    Internal Revenue Service Director of Exempt Organizations Lois Lerner makes a statement during a hearing of the House Oversight and Government Reform Committee before refusing to testify to the committee May 22, 2013 in Washington, DC.

    The IRS official at the center of a tax scandal about extra scrutiny of conservative groups asserted her constitutional right not to answer questions.

  • Why Millionaire Investors Are Holding On to Cash Wednesday, 22 May 2013 | 10:35 AM ET

    Survey after survey shows that the wealthy are back to pre-crisis boom years when it comes to their outlook for their own finances, their investments and their retirements. But many of them are still sitting on lots of cash.

  • Bill Targets Rental Companies' Defective Vehicles Wednesday, 22 May 2013 | 10:36 AM ET

    The Raechel and Jacqueline Houck Safe Rental Car Act of 2013 would ban companies from renting a recalled vehicle until the safety hazard is fixed.

  • Bond Yields Climb, Stocks Fall on Fed 'Taper' Comments Wednesday, 22 May 2013 | 3:52 PM ET
    Federal Reserve Board Chairman Ben Bernanke

    Stocks and bonds were volatile after Fed Chairman Ben Bernanke discussed how the central bank might wind down its monetary easing policy.

  • African-Americans Retire Earlier, With Less Money Wednesday, 22 May 2013 | 12:43 PM ET

    The new retirement age is getting younger for many Americans who can least afford to retire. African-Americans retire earlier than the general population, despite leaner nest eggs.

  • Searching for Nuance, Bernanke Does Figure Eights Wednesday, 22 May 2013 | 12:03 PM ET
    Federal Reserve Board Chairman Ben Bernanke

    If it sounds like Fed Chair Ben Bernanke is dancing in his testimony, it's because he is doing rhetorical figure eights in trying to signal where the Fed is going.

  • Gotta Give Her Credit: Women Score Better on Debt Wednesday, 22 May 2013 | 9:22 AM ET

    Women averaged a credit score of 675 compared to the male average of 674, according to the credit score agency Experian.

  • Bernanke: Too Soon to Taper Bond Buys Wednesday, 22 May 2013 | 10:01 AM ET
    Federal Reserve Board Chairman Ben Bernanke testifies during a hearing before the Joint Economic Committee May 22, 2013 on Capitol Hill in Washington, DC.

    Fed Chair Ben Bernanke told Congress the U.S. job market remains weak, and it is too soon to end its stimulus. Stocks spiked on his comments.

  • Forget the Headlines: Chinese Buying Big in US Wednesday, 22 May 2013 | 12:00 AM ET
    China Construction of America has successfully bid for state-level and municipal projects in the United  States, such as the $407 million Alexander Hamilton Bridge rehabilitation, seen here.

    Despite all the negative headlines, Chinese investment in the US hit an all-time record in 2012: $6.5 billion. It will likely surpass that level in 2013.

  • Pisani: Traders Overreact to Bernanke's Testimony Wednesday, 22 May 2013 | 11:43 AM ET
    Ben Bernanke

    Traders overreact to Federal Reserve Chairman Ben Bernanke's comments. Bernanke, in his Q and A, essentially reiterated what New York Fed President William Dudley said Tuesday: that any change in the flow of bond purchases will depend on data.

  • Rallies End Sometime, but This One May Not End Soon Wednesday, 22 May 2013 | 7:34 AM ET
    Traders work on the floor of the New York Stock Exchange.

    Market rallies have to end sometime for sure, but history suggests the current one, despite its seemingly bloated nature, doesn't have to end soon.

  • Fed Hawks, Doves Divided Over Improved Labor Market Wednesday, 22 May 2013 | 9:13 AM ET
    Ben Bernanke

    As the Federal Reserve mulls reducing asset purchases, the improved labor market is spurring debate between Fed "hawks" and "doves" over what the right policy decision should be.

  • Fed Mulls Tapering as Soon as June: Minutes Wednesday, 22 May 2013 | 2:00 PM ET
    Federal Reserve Building, Washington, D.C.

    'A number of participants' on the FOMC this month favored slowing the Fed's efforts to maintain record-low long-term interest rates as early as summer.

  • JC Penney Gets $500 Million Credit Line Increase Wednesday, 22 May 2013 | 4:12 PM ET

    JC Penney said its credit line has been increased to $2.25 billion from $1.75 billion.

  • Teflon Dimon, Unflappable Cook ... CEOs on a Roll Wednesday, 22 May 2013 | 1:31 PM ET

    The trials and triumphs of corporate chieftains are daily blood sport here at CNBC, notes the managing editor of CNBC.com.

  • US Home Sales at Highest Level in More Than 3 Years Wednesday, 22 May 2013 | 10:11 AM ET

    U.S. home sales rise slightly to 4.97 million in April, their highest level in 3 1/2 years, as inventories jump.

  • Two Global Companies Just Moved for Tax Reasons Wednesday, 22 May 2013 | 5:41 AM ET

    Even as Apple faced a grilling from lawmakers over its tax avoidance schemes, two more companies revealed they would move jurisdictions to lighten their tax burden.

  • Killer Tornado: Scenes From Oklahoma Wednesday, 22 May 2013 | 6:45 AM ET
    A child is rescued from the debris following a devastating tornado that ripped through Moore, Oklahoma.

    Monster. That's what they're calling the tornado that barreled through the Oklahoma City area. Here are heartbreaking scenes.

  • IRS Official at Center of Scandal Won't Testify Wednesday, 22 May 2013 | 7:25 AM ET

    Lois Lerner, the IRS official at the center of the political targeting scandal plans to assert her constitutional right not to answer questions from a congressional committee.

  • Economy Is on the Move Again—And So Are Americans Tuesday, 21 May 2013 | 6:45 AM ET

    Thanks to the brightening employment picture and an uptick in the housing market, Americans are packing up and relocating. And the pace is likely to pick up this summer.

U.S. Video

  • President Obama will meet with families affected by the Tornado in Oklahoma on Sunday. Sen. Tom Coburn (R-OK) shares his appreciation for the leadership in his state that has risen midst tragedy.

  • Gov. Tom Corbett (R-PA) and Austan Goolsbee, Chicago Booth School of Business, discuss the energy boom and the economic recovery in the U.S.

  • IRS director of tax exempt organizations Lois Lerner invoked her 5th Amendment rights and was dismissed from the hearing today. Gov. Tom Corbett (R-PA); Joseph diGenova, Former U.S. Attorney; and Austan Gooslbee, Chicago Booth School of Business, discuss.