The Fed cut interest rates by a quarter point, but it also reaffirmed its rate cut was meant to serve as insurance for the economy.Market Insiderread more
Investors are asking how the world's third-largest defense spender could have left itself so vulnerable and what that means for the future.Politicsread more
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
A Belgian F-16 fighter jet crashed on a road in western France and one of its pilots is hanging from a high-voltage electricity line after his parachute got caught.Aerospace & Defenseread more
AT&T is considering selling DirecTV, according to a report in the Wall Street Journal.Technologyread more
A key worry for some is whether libra competes with sovereign currencies like the dollar.Technologyread more
China's economy has long relied on factors such high levels of investments and an expanding labor force for growth. Those growth drivers are running out of steam.China Economyread more
India could benefit from the fallout in the U.S.-China trade war, experts told CNBC — but much-needed reforms on land and labor could prove to be a challenge for companies...Asia Economyread more
New crash tests show the Tesla Model 3 and the Audi e-tron, are among the safest models out on the road. The results bolster the theory electric vehicles may be better...Autosread more
U.S. consumers and growth in sectors such as technology have offset declines in other American industries, says Tom Finke, chairman and CEO of investment management firm...US Economyread more
The FAA administrator's comments come on the eve of his visit to Boeing facilities outside Seattle. While there, he's scheduled to meet with Boeing executives and be briefed...Airlinesread more
Billionaire hedge fund manager David Einhorn just ended his worst year ever.
His Greenlight Capital's main fund lost 9 percent in December, bringing its decline for 2018 to 34 percent, the worst performance since Einhorn started the firm in 1996, according to figures obtained by CNBC's Scott Wapner.
This collapse came in a dismal year when stocks and other risk assets took a huge hit from the ongoing trade battles and slowing global growth. However, Einhorn's hedge funds underperformed the market drastically — the S&P 500 ended 2018 down just 7 percent.
2018 sharply contrasted Einhorn's early years, when he scored some of Wall Street's best returns including 24 percent in 2006 and 32 percent in 2009. Einhorn also called the collapse of Lehman Brothers, perhaps the most prescient call of the entire financial crisis. He confirmed he was short Lehman a few months before the firm declared bankruptcy.
When it comes to losing money, Einhorn wasn't shy about expressing his frustration. In a letter to investors in July, he said "over the past three years, our results have been far worse than we could have imagined, and it's been a bull market to boot."
"Yes, we have made some obvious mistakes — the worst of which was not assessing that SunEdison was a fraud in 2015 — but there have been others. A number of years ago one of our investors said Amazon would surpass Apple and become the most valuable company in the world. We didn't get it then and, truthfully, we don't really get it now," he said in the July letter.
His funds have been lackluster since 2015 when they lost more than 20 percent. They returned 7 percent in 2016 and 1.5 percent in 2017.
The hedge fund manager recently became a critic and short seller of Tesla, even comparing the electric car maker to his call on Lehman Brothers.
— CNBC's Scott Wapner contributed reporting.