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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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Trump outlines more plans for second term in White House

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Trump outlines more plans for second term in White House – CBS News


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President-elect Donald Trump discussed tariffs, birthright citizenship and potential pardons for Jan 6, 2021, rioters during an interview regarding his first days in the White House for his second term as president. CBS News campaign reporter Shawna Mizelle reports.

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Syrians return home after HTS rebels take over, Assad flees

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Syrians return home after HTS rebels take over, Assad flees – CBS News


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Syrians are reacting after President Bashar al-Assad’s regime was toppled by rebel forces affiliated with the militant group Hayat Tahrir al-Shams (HTS). CBS News’ Courtney Kealy has more.

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Protests in South Korea calling for impeachment of Yoon Suk Yeol

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Protests in South Korea calling for impeachment of Yoon Suk Yeol – CBS News


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Protesters in South Korea are calling for the impeachment of President Yoon Suk Yeol after chaos erupted over his imposed martial law. CBS News’ Ramy Inocencio reports from Seoul.

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