Markets sold off around the world on mounting signs the global economy is weakening just as central banks raise the pressure even more with additional hikes to interest rates. The Dow Jones Industrial Average closed at its lowest point since 2020 Friday. The S&P 500 fell 1.7%, close to its 2022 low.

DETROIT (AP) — The Detroit auto show has returned with a roar. And a soar. The prestigious North American International Auto Show last was held in 2019. It returned last week. Visitors once again can lay eyes on the latest offerings from some of the world’s biggest automakers.

WASHINGTON (AP) — Intensifying its fight against high inflation, the Federal Reserve raised its key interest rate by a substantial three-quarters of a point for a third straight time and signaled more large rate hikes to come. The Fed’s move boosted its benchmark short-term rate, which affects many consumer and business loans, to a range of 3% to 3.25%, the highest level since early 2008.

NEW YORK (AP) — Walmart is taking a cautious approach to the holiday shopping season, announcing it will hire 40,000 U.S. workers for the holidays, a majority of them seasonal workers.

NEW YORK (AP) — Home Depot workers in Philadelphia have filed a petition with the federal labor board to form what could be the first store-wide union at the world's largest home improvement retailer.

WASHINGTON (AP) — The Biden administration is moving one step closer to developing a central bank digital currency, known as the digital dollar. Administration officials say it'd help reinforce the U.S. role as a leader in the world financial system.

WASHINGTON (AP) — Average long-term U.S. mortgage rates climbed over 6% this week for the first time since the housing crash of 2008, threatening to sideline even more homebuyers from a rapidly cooling housing market. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate rose to 6.02% from 5.89% last week. Sales of existing homes in the U.S. have fallen for six straight months, according to the National Association of Realtors.

OMAHA, Neb. (AP) — Railroad workers secured a deal that will deliver 24% raises and $5,000 bonuses over five years, but it will also address some of their concerns about strict attendance rules and time off. The deal that’s retroactive to 2020 will give railroaders the biggest raises they’ve seen in more than four decades with 24% raises and $5,000 in bonuses over five years.

OMAHA, Neb. (AP) — Business and government officials are bracing for the possibility of a nationwide rail strike at the end of this week while talks carry on between the largest U.S. freight railroads and their unions. The railroads have already started to curtail shipments of hazardous materials and refrigerated products ahead of Friday's strike deadline.

DETROIT (AP) — When it came time to showcase its electric Chevrolet Equinox SUV to the public this year, General Motors decided against doing so at the big Detroit auto show, as it typically would have done in the past. Instead, it unveiled the Equinox six days earlier. GM’s decision symbolized just how much smaller this year’s auto show will be, with few new model debuts, less-glitzy displays, fewer journalists and possibly lower attendance.

NEW YORK (AP) — Stocks tumbled to their worst day in more than two years Tuesday, knocking the Dow Jones Industrial Average down more than 1,250 points. The inflation figures were so much worse than expected that traders now see a one-in-three chance for an interest rate hike of a full percentage point by the Fed next week.

ARLINGTON, Va. (AP) — Boeing says it took net orders for 26 planes and delivered 35 planes in August. Boeing said Tuesday that the deliveries included a 787 jet to Germany's Lufthansa and another to Dutch national carrier KLM. Boeing was unable to deliver 787s for most of the last two years because of production flaws.

WASHINGTON (AP) — A former security chief at Twitter told Congress that the social media platform is plagued by weak cyber defenses that make it vulnerable to exploitation by “teenagers, thieves and spies” and put the privacy of its users at risk. Peiter “Mudge” Zatko, a respected cybersecurity expert, appeared before the Senate Judiciary Committee to lay out his allegations Tuesday.

WASHINGTON (AP) —Lower prices for gas and cheaper used cars slowed U.S. inflation in August for a second straight month, though many other items rose in price, indicating that inflation remains a heavy burden for American households. Consumer prices surged 8.3% in August compared with a year earlier.

OMAHA, Neb. (AP) — Freight railroads and their unions are facing increasing pressure from business groups to settle their contract dispute. They face a looming strike deadline on Friday and business groups say a stoppage halting deliveries of raw materials and finished products that so many companies rely on would be an economic disaster.

WASHINGTON (AP) — Peiter “Mudge" Zatko, the Twitter whistleblower who is warning of security flaws, privacy threats and lax controls at the social platform, will take his case to Congress on Tuesday. Senators who will hear Zatko's testimony are alarmed by his allegations at a time of heightened concern over the safety of powerful tech platforms. Zatko, a respected cybersecurity expert, was Twitter’s head of security until he was fired in January.

OMAHA, Neb. (AP) — The major freight railroads say in a new report designed to put pressure on unions and Congress that a strike would cost the economy more than $2 billion a day and disrupt deliveries of all kinds of goods and passenger traffic nationwide if it happens after a key deadline passes next Friday without a contract agreement.

WARREN, Mich. (AP) — Auto companies are rolling out more affordable electric vehicles that should widen their appeal to a larger group of buyers. That's despite rising battery costs. The latest EV came Thursday from General Motors, a Chevrolet Equinox small SUV. It has a starting price around $30,000 and a range-per-charge of 250 miles, or 400 kilometers.

NEW YORK (AP) — United Parcel Service said Wednesday it plans to hire more than 100,000 extra workers to help handle an increase in packages during the critical holiday season. That’s similar to the holiday seasons of 2021 and 2020. Holiday-season volumes usually start rising in October and remain high into January. The hiring plans come as online shopping has slowed after a pandemic-induced surge, but the figures are still well above pre-pandemic levels.

BERLIN (AP) — A new report says Russia sent significantly more oil and coal to India and China over the summer compared with the start of the year, while European countries that long relied on Russian energy have cut back sharply in response to the war in Ukraine. The Centre for Research on Energy and Clean Air said Tuesday that Russia received about 158 billion euros in revenue for the sale of oil, natural gas and coal from February to August.

DALLAS (AP) — The summer vacation season is winding down, and for airlines that means the return of business travelers is very important. Leisure travel in the United States is roughly back to pre-pandemic levels, but airlines say business is still about 25% below 2019 levels. Business travelers generally pay higher fares, so the absence of so many of them has an outsized impact on airline revenue and profit. The Global Business Travel Association predicts that corporate travel won’t fully return until mid-2026.

FRANKFURT, Germany (AP) — OPEC and allied oil-producing countries, including Russia, have cut their supplies to the global economy by 100,000 barrels per day, underlining their unhappiness with crude prices that have sagged because of recession fears. The decision Monday by energy ministers means the cut for October rolls back the mostly symbolic increase of the same amount in September.

WASHINGTON (AP) — America’s employers slowed their hiring in August in the face of rising interest rates, high inflation and sluggish consumer spending, all of which weakened the outlook for the economy. The government reported that the economy added 315,000 jobs last month, down from 526,000 in July and below the average gain of the previous three months. The unemployment rate rose to 3.7%, from a half-century low of 3.5% in July, as more Americans came off the sidelines to look for jobs.

Permanently misspelled tweets might soon be a thing of the past. Twitter said Thursday it’s working on allowing users to edit their tweets, which it said is one of the most requested features to date. The social media company said in a blog post that it’s testing the “Edit Tweet” feature internally with plans to roll it out later this month to subscribers of its premium Twitter Blue service.

WASHINGTON (AP) — The Department of Transportation has launched a customer service dashboard to help vacationers ahead of the travel-heavy Labor Day weekend. Starting Thursday, travelers will be able to check the dashboard and see what kinds of guarantees, refunds or compensation the major domestic airlines offer in case of flight delays or cancellations.