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U.S. Steel shares plummet amid questions over the fate of its merger with Nippon Steel

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Pittsburgh-area union members throw support behind Harris as she opposes sale of U.S. Steel


Pittsburgh-area union members throw support behind Harris as she opposes sale of U.S. Steel

02:45

U.S. Steel shares plunged on Wednesday as Wall Street questioned whether its $14.1 billion deal with Japan’s Nippon Steel is at risk of derailing.

Shares of U.S. Steel plunged as much as 25% in afternoon trading after the Washington Post reported President Joe Biden is preparing to formally block the proposed acquisition. As of 2:35 p.m., shares of U.S. Steel were down $7.12, or 20%, to $28.48. 

At an afternoon briefing, a White House official downplayed the Washington Post report, which cited three people familiar with the president’s plans. In a statement, the White House cited a process of review by the Committee on Foreign Investments in the United States, or CFIUS, a panel chaired by the Treasury Secretary. 

“CFIUS hasn’t transmitted a recommendation to the President, and that’s the next step in this process,” a White House official stated.

—This is a developing story and will be updated.



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What to know about Luigi Mangione’s court hearing after outburst outside

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What to know about Luigi Mangione’s court hearing after outburst outside – CBS News


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UnitedHealthcare CEO shooting suspect Luigi Mangione fought extradition to New York in a Pennsylvania court on Tuesday. Before entering the courthouse, he pulled away from authorities and yelled towards reporters. CBS News’ Lilia Luciano and Anna Schecter have more on the suspect and the case.

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Syrians hope to learn fate of lost loved ones after notorious prison liberated

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Syrians hope to learn fate of lost loved ones after notorious prison liberated – CBS News


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Rebels liberated Syria’s notorious Sednaya prison last week. Now, many have come looking for family members in a place where thousands have disappeared over the years. Elizabeth Palmer reports.

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Wildfire prompts evacuations in Southern California

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Wildfire prompts evacuations in Southern California – CBS News


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A fast-moving wildfire on California’s Malibu coast has destroyed several homes and forced thousands to evacuate. Fire crews are still working to get the Franklin Fire under control. Jonathan Vigliotti has more.

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