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In Asia, investors await China's loan prime rate decision as markets reopened post-holiday. View More

In this article.SPX.N225DIA.HSI.AXJO.DJI.IXIC.KS11Follow your favorite stocksCREATE FREE ACCOUNT BEIJING, CHINA - NOVEMBER 11: The national flag of China flies in front of the headquarters of the People's Bank of China (PBOC) on November 11, 2025, in Beijing, China. The PBOC serves as the country's central bank, overseeing monetary policy, financial regulation, and currency issuance. (Photo by Cheng Xin/Getty Images)Cheng Xin | Getty Images News | Getty Images Asia-Pacific markets climbed on Tuesday, breaking ranks with Wall Street as investors weighed renewed tariff threats from U.S. President Donald Trump and concerns that artificial intelligence could disrupt software companies.Trump posted on Truth Social Monday that any country that wants to "play games" with the Supreme Court decision "will be met with a much higher tariff."The comments followed a Supreme Court decision Friday striking down tariffs enacted under the International Emergency Economic Powers Act. In response, Trump said he would impose a 15% global tariff under Section 122 of the 1974 Trade Act. Investors in Asia were also awaiting China's loan prime rate decision. The one-year LPR serves as a benchmark for new commercial loans, while the five-year LPR guides property loans. Markets in mainland China will reopen after the Lunar New Year holiday. Hong Kong Hang Seng index futures stood at 26,869, below its previous close of 27,081.91.South Korea's Kospi continued its record-breaking run, climbing 0.24%, while the small-cap Kosdaq saw a larger gain of 0.56%.Japan's Nikkei 225 rose 0.23%, while the Topix was flat. Australia's S&P/ASX 200 also rose 0.12%. Overnight in the U.S., the Dow Jones Industrial Average dropped 1.66%, while the Nasdaq Composite declined 1.13%. The S&P 500 shed 1.04%.Cybersecurity stocks dropped for a second day on Monday as investors fretted over new artificial intelligence security tools that threaten to displace the sector's longstanding business models.Anthropic on Friday debuted a new security tool to its Claude model in a limited research preview. The AI lab said the service could scan software code for vulnerabilities and suggest solutions. Anthropic is scheduled to host an enterprise briefing with new product announcements on Tuesday.Samantha SubinSoftware stocks such as Microsoft and CrowdStrike were under pressure once again as AI disruption worries weighed on the market. Microsoft dropped 3%, while CrowdStrike retreated nearly 10%. — CNBC's Samantha Subin, Sean Conlon and Sarah Min contributed to this report.

President Trump's new tariffs could further strain global trade relations, pushing businesses to operate more cautiously and hurting the U.S. economy. View More

Shipping containers at the port of Oakland in California on Feb. 23, 2026, following the Supreme Court's ruling that Trump had exceeded his authority when he imposed tariffs.Carlos Barria | Reuters The Supreme Court struck down President Donald Trump's tariffs on Friday, but the trade tax turmoil is far from over. Fallout over the ruling is already threatening to further strain global trade relations, and the U.S. economy is likely to suffer, economists told CNBC. In 6-3 decision, the high court ruled that President Trump did not have the legal authority to implement his sweeping tariffs imposed last April under the International Emergency Economic Powers Act, or IEEPA. Trump later leveled new tariffs up to 15% effective immediately on an array of U.S. trading partners, further escalating global trade tensions. European Union leaders expressed dismay over the new tariffs, arguing that the U.S. policy shift would upend trade deals already reached with the EU as well as the U.K. last year. On Monday, the EU again postponed a key vote on its deal with the U.S. The pushback against the latest U.S. tariff threat underscores deep frustration over the president's erratic trade policies, and could push foreign governments to scale back U.S. trade and lead businesses to curb expansion, investment and hiring.The result might hobble the U.S. economy. "It shifts how trade is done with the largest economy in the world, and that has economic consequences," Mike Reid, head of U.S. economics at Royal Bank of Canada told CNBC, referring to the Supreme Court ruling and new tariff push. DownsideThe trade war drama is likely to contribute to a climate of caution among businesses and foreign governments alike, said Mark Zandi, chief economist at Moody's Analytics, leading to "nothing but downside," for the U.S. economy."Businesses don't know" what's going to happen next, Zandi told CNBC. "They're going to invest less, they're going to hire less, they're going to be less aggressive in their expansions," limiting U.S. growth. Foreign governments could react similarly amid rising uncertainty, leading them to "continue to pull away from the U.S," according to the economist. "They've got to be pulling their hair out over all of this," Zandi said. "Perceptions of the U.S. are increasingly that we're a poorly managed economy, and objectively speaking, they're right. It's a bit of a mess that feels like it's getting messier."That perception could lead to efforts to divert trade away from the U.S. to a variety of other trading partners, including China. China's exports grew 6.6% in U.S. dollar terms last December compared to the same month a year earlier, topping analyst expectations and sending the nation's annual trade surplus to a record, according to Chinese customs data. Imports increased at their fastest pace in three months, the same data showed. Trump trade taxesThe Trump administration will continue implementing its trade policy, and now plans to use a variety of sections in the Tariff Act of 1974, according to U.S. Trade Representative Jamieson Greer. President Trump is pointing to section 122 of the Tariff Act to justify his new tariffs enacted this weekend, although that section limits their effectiveness to 150 days, until mid-July, after which they would have to be approved by Congress.  But the administration is likely to use sections 232 and 301 of the Tariff Act to supplement its new section 122 tariffs, meaning the U.S. could continue to impose tariffs against its foreign trading partners over the next few years, at least. Others say neither investors nor economists should sound the alarm just yet. The implementation of the new trade taxes "implies little change in the effective tariff rate or our inflation forecasts in the near term," Citigroup economist Veronica Clark said in a note to clients."Eventual Section 301/232 tariffs could have an impact on certain goods prices in the future, but details are still highly uncertain," Clark wrote. "While a 10% Section 122 tariff would likely have lowered the effective tariff rate by 3-4 [percentage points], a 15% tariff should keep the effective tariff rate essentially unchanged (if anything, lower by ~1pp or so).While the total impact of the new tariffs remains uncertain, a few things are clear, Zandi said. "The U.S. is pulling away from the world, and the rest of the world is now pulling away from the U.S.," the economist said. "Deglobalization is a weight on the economy, and ultimately, the end state is a weakened economy."— With additional reporting provided by CNBC's Alex Harring

Some congressional Republicans had already cooled to the president's trade policy before the Supreme Court decision on Friday. View More

Rep. Don Bacon (R-Neb.) gives a thumbs up as he arrives for a House Republican Conference meeting at the U.S. Capitol on September 10, 2024 in Washington, DC.Kent Nishimura | Getty Images President Donald Trump says he does not need Congress to impose tariffs, but his recent attempts to impose new import duties could trigger difficult votes for Republicans ahead of midterms. And Democrats are vowing to disrupt attempts to extend Trump's trade policy.Shortly after the Supreme Court spiked a majority of Trump's tariffs on Friday, the president doubled-down and issued another round using Section 122 of the 1974 Trade Act. That statute caps rates at 15% and requires congressional authorization for an extension beyond 150 days, creating the potential for a difficult vote on an unpopular issue for congressional Republicans in the midst of election season."I'm freaked out about it. Because every poll shows that American voters are against tariffs at a 2-to-1 ratio. The president has latched on to a very unpopular policy," said Rep. Don Bacon, R-Neb., one of six Republicans who voted earlier this month to strike down Trump's 35% tariff on Canadian imports.The Supreme Court's decision, which struck down tariffs Trump issued using the International Emergency Economic Powers Act, or IEEPA, dealt a massive blow to Trump's economic agenda and could change the dynamics of the fight in Congress over the president's signature trade policy. Read more CNBC politics coverageDemocrats seek to force refunds after Supreme Court blocks Trump tariffsTrump demands Netflix fire Susan Rice as DOJ probes Warner dealArmed man killed by authorities trying to enter Trump Mar-a-Lago club Democrats have tried to connect Trump's tariffs to affordability — and the role they say tariffs have played in rising prices — as they map out a plan to continue fighting Trump's tariff agenda in the coming months."Senate Democrats will continue to fight back against Trump's tariff tax, and will block any attempt to extend these harmful tariffs when they expire this summer. Democrats will not go along with furthering Trump's economic carnage," Senate Minority Leader Chuck Schumer. D-N.Y., said in a statement on Monday.While Democrats hold little power without control in the House or Senate, the success of any future vote to extend his Section 122 tariffs or expand the president's power to impose his trade policy is far from certain as GOP frustration builds."In a razor-thin House majority, that legal rebuke gives Republicans more cover to break ranks, especially on issues with direct economic consequences for their districts," said Brittany Martinez, executive director at Principles First who worked for Speaker Kevin McCarthy. "As we move toward the midterms, we're likely to see more members prioritize the rule of law and local impact over party pressure."House Speaker Mike Johnson, R-La., on Monday acknowledged the dim prospects for tariffs in Congress. "It's going to be, I think, a challenge to find consensus on any path forward on the tariffs on the legislative side. That is why I think you see so much of the attention on the executive side," Johnson told reporters at the Capitol, according to MSNOW. New pushback to Trump on trade The House vote to overturn Trump's Canada tariffs, while symbolic, was the latest in a series of hits to Trump's trade policies. The Senate had voted multiple times in the last year to similarly strike some of the president's IEEPA tariffs. "I was in the cloakroom and I heard people saying 'I don't like tariffs but I voted no,'" Bacon said, recalling the night of the House vote. "I expect that if people were left to their own devices, without pressure, I think the number would have been five or six times higher. But obviously it's a big priority for the president, so people struggle with it."  Some of the GOP defectors, like Rep. Kevin Kiley, R-Calif., framed their opposition as a win for checks and balances. "Last week's vote by Congress and today's Supreme Court decision represents precisely that give-and-take envisioned by the Founders," Kiley posted to X on Friday.Bacon, who is retiring from Congress at the end of his term, pointed to a recent Tax Foundation study that said Trump's tariffs amounted to a $1,000 average tax increase for American families in 2025. He also cited analysis from the Federal Reserve Bank of New York that found U.S. consumers and firms are shouldering nearly 90% of the tariff burden. Both should be "red flags," he said.But any perceived act of defiance against the president could have consequences. Trump over the weekend withdrew his endorsement of Rep. Jeff Hurd, a Colorado Republican who voted to overturn Trump's Canada tariffs. Hurd faces right-wing primary opponent Hope Scheppelman, who Trump is now endorsing."When I took office, I swore an oath to the Constitution and to the people I serve. Every vote I cast is guided by what is best for this district and the long-term strength of our country," Hurd posted to X the day after Trump's attack. Tariffs could be 'hard sell' in election year How obedient will the congressional GOP be to Trump in an election year? Rep. Gregory Meeks, D-N.Y., introduced the Canada tariffs disapproval resolution and had planned to force additional votes to strike down other of Trump's import duties.The Supreme Court decision changed that strategy, but Meeks said future votes on the topic of tariffs generally could go poorly for Trump."I think that that will only be a continuing result as we move forward and continue to look at what Trump is doing, because what he's doing is hurting the American people," Meeks said. Bacon predicted that bipartisan efforts to legislatively reassert Congress' constitutional authority over tariffs could gain steam, pointing to a bill he introduced last year, which as of Monday had eight bipartisan cosponsors. Sen. Maria Cantwell, D-Wash, led a companion in the Senate, which has 13 cosponsors, also a bipartisan group.On Monday, a group of Senate Democrats, led by Ron Wyden of Oregon, released legislation that would force Customs and Border Patrol to issue tariff refunds to importers and small businesses. Rep. Steven Horsford, D-Nev., introduced similar legislation in the House on Friday, though neither has a clear path to passage as long as Democrats are in the minority.Asked if refunds should be issued, Johnson on Monday said "I don't think so. The White House is going to sort that out."Republicans in theory have latitude to expand Trump's tariff authority or legislatively impose import duties. Some, like Sen. Bernie Moreno, R-Ohio, suggested Republicans "get to work immediately on a reconciliation bill to codify the tariffs that had made our country the hottest country on earth!"But "patience is wearing thin on the tariff front," John Feehery, a Republican strategist at EFB Advocacy and a former aide to House Speaker Dennis Hastert, said in an interview last week. "It's a pretty hard sell if you're from a farm state or a place that exports equipment overseas," Feehery said.

Violence across Mexico after the killing of a cartel boss is hitting trucks, ports and air freight for a critical trading partner to the U.S. View More

Smoke billows from burning vehicles amid a wave of violence, with torched vehicles and gunmen blocking highways in more than half a dozen states, following a military operation in which a government source said Mexican drug lord Nemesio Oseguera, known as "El Mencho," was killed, in Puerto Vallarta, Jalisco, Mexico, February 22, 2026, in this screen grab obtained from a social media video.Stringer | Reuters Trade between the United States and Mexico could be hurt dramatically if the flare-ups of violence across Mexico continue in response to the killing of a cartel boss, warn logistics companies that are worried about freight operations for routes involving the key U.S. trade partner and at the border.The head of the Jalisco New Generation Cartel, Nemesio "El Mencho" Oseguera Cervantes, was killed along with other cartel members in a Mexican military operation aided by U.S. intelligence over the weekend. This led to outbreaks of violence and attacks on public infrastructure on Sunday and Monday by cartel factions.Mexico is among the top trading partners of the U.S. and impacts on air and trucking routes are beginning to be reported by freight companies. The cancellation of flights to Mexico by major U.S. passenger airlines will also have a significant impact on the movement of freight. That is because approximately 50 percent of air freight, by weight, is moved by passenger aircraft. American Airlines canceled flights Sunday to and from Guadalajara, Mazatlán and Puerto Vallarta. Southwest Airlines also canceled flights, along with Delta, which also diverted flights. United Airlines and Air Canada also canceled flights to the region.A spokesperson for cross-border logistics firm Kuehne + Nagel said with airports in Guadalajara affected, numerous flight cancellations also include freighter operations into and out of the airport. "The situation is impacting our ability to deliver and pick up cargo," said the spokesperson. "So far, we have not observed any issues at our main gateways (Felipe Angeles Airport and Mexico City Airport) for flight operations, but the situation will raise challenges with the delivery and pickup process to/from affected states," the spokesperson added. In response to the violence, the U.S. State Department issued a shelter-in-place order for Jalisco State (including Puerto Vallarta, Chapala, and Guadalajara), Tamaulipas State (including Reynosa and other municipalities), areas of Michoacan State, Guerrero State, and Nuevo Leon State. The violence has prompted logistics companies including Kuehne + Nagel to have employees in the impacted areas work from home. In addition to air freight, CH Robinson says container port pickup and drop-off are being hit by the security situation in western Mexico. "Road blockades have cut off some freight corridors, initially including the routes connecting the Port of Manzanillo to Guadalajara and moving freight northeast," said Veronica Gonzalez, CH Robinson's North America surface transportation Mexico director.The Port of Manzanillo, the country's busiest container port, was temporarily closed to containers coming in or out. While it reopened and was operating normally on Monday, blockades and fires continued to interrupt freight movement. Located on Mexico's Pacific Coast, the Port of Manzanillo handles over 3.5 million containers annually, moving nearly half of all containerized cargo for Mexico. The port is also a vital gateway for Asian imports. In a statement to CNBC, DHL said it continues to operate while readjusting its network and operations across the country to minimize any potential disruptions. DHL said its global forwarding network is seeing lower-than normal volumes from the ports of Manzanillo, Lázaro Cárdenas and Veracruz.The violence is also reducing trucking volume between the U.S. and Mexican border, according to Gonzalez. More than 20,000 commercial trucks cross the border between Laredo and Nuevo Laredo on an average weekday. "With many carriers unwilling to send drivers into parts of western Mexico, trucking capacity in the region tightened very quickly. We are not yet aware of any impacts to air cargo," she said.Jordan Dewart, president of Mexico operations for Redwood Logistics, said his firm is also seeing some truck capacity tightening in Laredo and El Paso, Texas. "When there's policy noise and major events of unrest like we saw yesterday it creates uncertainty, and shippers tend to pull freight forward and carriers get selective," said Dewart. "That compresses capacity quickly at the border and in country."Trucking spot rates are ticking up, according to Dewart, as well as trucking dwell times. "If uncertainty continues, capacity could tighten quickly — cross-border doesn't have a lot of slack," he added.Logistics companies say they have prior experience monitoring on-the-ground crises and working with carriers and customers to reroute freight where possible. But logistics experts warn even with cross-border trade flowing, highways at key border crossings, including Laredo and El Paso, will continue to be subject to delays. "Anything touching western Mexico is likely to run behind schedule," Gonzalez said. "From our 35 years of experience in Mexico, I'd say shippers should plan for delays through at least the first half of the week," she added. watch nowVIDEO4:4804:48Canada and Mexico are the biggest winners from tariff relief, says Strategas' Dan CliftonThe Exchange

President Trump previously suggested issuing "tariff dividend" checks. After the Supreme Court struck down his tariffs policy, that's unlikely, experts say. View More

watch nowVIDEO10:4910:49'A moment of great uncertainty': Stephen Moore and Natasha Sarin on the future of Trump tariffsSquawk Box The Supreme Court struck down a centerpiece of President Donald Trump's tariff agenda on Friday, also dealing a blow to the possibility of sending so-called tariff dividend checks to families, experts say."Tariff dividends were a long shot from the beginning," said certified financial planner Stephen Kates, a financial analyst at Bankrate. "Given the White House's lack of authority to unilaterally issue stimulus checks to Americans, the idea was largely aspirational," he said. Any such broad-based benefit program would require legislation passed by Congress. Following a major Supreme Court defeat and with an ongoing partisan battle in Washington, congressional approval would be especially difficult, he said."Even if tariffs were to return to prior levels and generate revenue for a broad stimulus program, there does not appear to be sufficient political support to move such a measure through Congress," Kates said. "The odds of this policy moving forward is now effectively zero." Read more CNBC personal finance coverageTrump's $2,000 tariff dividend checks just got a lot less likely, experts sayStudent loan forgiveness is taxable again. How to plan for a five-figure IRS billWhat the Trump administration's Harvard lawsuit could mean for future applicantsHomebuyers are paying more for credit checks. Here's whyTrump accounts have 'more unanswered questions than answered,' expert saysTreasury: Trump accounts sign up about 3 million kids in early pushAverage IRS tax refund is up 14.2%, according to early filing dataStudent loan delinquency rate jumps to nearly 25% in Trump's second term: analysisWhat Supreme Court ruling against Trump tariffs means for your moneyPersonal loans surge: It's 'the middle-class refinancing option,' expert saysTrump: tax refunds are 'substantially greater than ever before.' What to expectTrump officials warn hundreds of colleges with low student loan repayment ratesAs AI puts the squeeze on entry-level jobs, teens remain optimistic: reportTrump administration finds more borrowers eligible for student loan forgivenessMore used cars are for sale, but ones under $20,000 are 'harder to find': ExpertCNBC's Financial Advisor 100: Best financial advisors, top firms ranked The Supreme Court decided in a 6-3 tariff ruling that the president wrongfully invoked the International Emergency Economic Powers Act, or IEEPA, to implement a large portion of his trade agenda.Shortly after the high court's ruling, Trump said he would sign an executive order imposing a new 10% "global tariff" using a different legal authority, and then increased the rate to 15%. In a Truth Social post, Trump said the new tariffs will be "effective immediately," but it was unclear if any official documents were signed detailing the timing."Even if the tariffs challenged by the Supreme Court's decision are replaced by other trade taxes on Americans, the widening federal deficit should make everyone skeptical that these checks will ever be in the mail," said Brett House, an economics professor at Columbia Business School.  watch nowVIDEO3:4803:48President Trump: I guess tariff refunds have to get litigated for the next two yearsThe Exchange On Friday, Treasury Secretary Scott Bessent said during an appearance at the Economic Club of Dallas that tariff revenue "will be little changed" — despite the Supreme Court ruling — under Section 122 of the Trade Act of 1974. That statute grants the president temporary authority to reimpose his tariff agenda, and potentially paves the way for a one-time $2,000-per-person tariff rebate for some U.S. households. On Monday, a White House official told CNBC in an email that "as Sec. Bessent has made clear, tariff revenue is expected to remain robust with the use Section 122 tariffs, and the Administration is committed to putting that revenue to good use for the American people." 'A dividend of at least $2,000' The president first floated the idea of making direct distributions to Americans in July. Sen. Josh Hawley, R-Mo., then introduced the American Worker Rebate Act of 2025, which pitched a stimulus check funded with tariff revenue. The Senate referred that bill to the Committee on Finance, where it remains.Later in the year, Trump said that a rebate check with the money his tariffs had generated would be forthcoming. "A dividend of at least $2000 a person (not including high income people!) will be paid to everyone," he wrote in a post on Truth Social in November. At the end of 2025, National Economic Council Director Kevin Hassett also said that "the president will bring forth a proposal to Congress to make that happen."When asked about tariff rebates in January, Trump said the checks would come "toward the end of the year." The status of tariff refunds The Trump administration may still have to refund the tariffs already paid to the entities that paid them.Tariffs are a tax on imports from foreign nations and are paid for by U.S. entities that import the good or service. Companies often bear some of the cost and pass on the rest to consumers through higher prices. The Supreme Court did not rule on potential tariff refunds, but if the U.S. has to pay businesses back, that would erode the surplus tariff revenue, which would have funded dividend checks. For now, potential tariff refunds are up in the air. Even who is eligible and how they would be able to apply is unclear, experts say."The court did not rule on refunds, but either way it would be hard to see that tariffs get handed out to those previously not taxed by tariffs rather than those previously taxed," said Tomas Philipson, a professor of public policy studies at the University of Chicago and former acting chair of the White House Council of Economic Advisers. Subscribe to CNBC on YouTube.

A $400,000 mortgage refinanced at today’s rates could lower monthly payments by roughly $260, though closing costs can offset those savings. View More

Mortgage rates have fallen nearly one percentage point from a year ago, making it possible for some homeowners to save money by refinancing.The 30-year fixed rate slipped to 5.99% on Monday, down from 6.96% a year earlier, according to Mortgage News Daily. Last week, applications to refinance a home loan rose 7% and were 132% higher than the same week a year earlier, according to the Mortgage Bankers Association.While many homeowners still hold mortgages with rates well below today's levels, a growing share are carrying higher borrowing costs. Roughly 1 in 5 borrowers now have mortgage rates of 6% or higher, according to Realtor.com — including many who locked in rates above 7% in the last few years.For those borrowers, a "1% drop can be a nice rule of thumb for when to consider a refinance," says Rob Greenman, a certified financial planner in Portland, Oregon. Whether refinancing makes sense depends on how the upfront, one-time costs compare with the long-term savings from lower monthly payments, he says. Do the math before refinancing Refinancing typically comes with one-time closing costs that run about 2% to 5% of the loan balance, per Bankrate. To estimate whether refinancing makes sense, divide those closing costs by the amount you expect to save each month. The result will show how many months it would take to recover the upfront expense, says Joon Um, a CFP in Beverly Hills, California.If you don't plan to stay in the home long enough to recoup those costs, refinancing may not make sense, he says.For example, on a 30-year mortgage with a $400,000 balance, a 1-percentage-point drop from a 7.04% rate could lower monthly principal and interest payments by roughly $263. If closing costs total 3% of the loan balance, or about $12,000, it would take nearly four years to break even.Homeowners should also be cautious about resetting the loan term. Refinancing replaces the existing mortgage with a new loan, requiring borrowers to select a new repayment timeline. Many choose a fresh 30-year term, even after paying down several years, per Experian.While it can be tempting to extend the term to reduce monthly payments, stretching out the repayment period may increase the total interest paid over time, Um says.Refinancing should support broader financial goals, not just reduce a monthly bill: If the move improves flexibility, savings or long-term security, it may be worthwhile. "If it just frees up spending money, think twice," says Um.Borrowers should aim to recoup closing costs within 18 months to two years through monthly savings when refinancing, says Melissa Cohn, regional vice president at William Raveis Mortgage. If the break-even timeline stretches beyond that, waiting may make more sense, she says.To estimate potential savings, homeowners can use CNBC Make It's mortgage calculator. Where mortgage rates could head next Mortgage rates have declined in recent months as the yield on the 10-year Treasury, a benchmark that mortgage rates tend to follow, has slipped from around 4.25% back toward 4%. Softer inflation data, geopolitical risk and expectations that the Federal Reserve could cut rates later this year have helped push yields lower, says Cohn.It's also the start of a new year, when lenders often compete more aggressively for business, she says.Where rates go from here will depend on incoming economic data. If inflation continues to cool and the economy slows, rates could drift lower. If inflation picks up again, they are likely to rise. That said, mortgage rates "never move in a straight line," Cohn says.The material and tools displayed on this website are provided without any guarantees, conditions or warranties as to their accuracy.Want to improve your communication, confidence and success at work? Take CNBC's new online course, Master Your Body Language To Boost Your Influence. Register now and use coupon code EARLYBIRD for an introductory discount of 20% off. Offer valid from Feb. 9 to Feb. 23, 2026. Terms apply. Take control of your money with CNBC Select CNBC Select is editorially independent and may earn a commission from affiliate partners on links.Six ways to file your taxes for freeWhat is a good monthly retirement income in 2026?How to buy gold from CostcoThe 6 best personal loans of February 2026 VIDEO8:3608:3644-year-old brings in $251,000 a year with 3 jobs in the Bay AreaMillennial Money

Student loan holders who get their debt excused in 2026 can expect a hefty tax bill. But there are steps you can take to prepare, and some may not have to pay. View More

Alberto Case | Getty Images Many student loan borrowers who get their debt forgiven in 2026 can expect a hefty tax bill next year. That's because a law that shielded the relief from taxation at the federal level — part of the American Rescue Plan Act of 2021 — expired in December. Most impacted borrowers will be those who have their debt excused under the U.S. Department of Education's income-driven repayment plans, or IDRs. Enacted in the 90s, IDR plans cap people's monthly payments at a share of their discretionary income — and erase any remaining debt after a certain period, typically 20 or 25 years. More from Financial Advisor Playbook:Here's a look at other stories affecting the financial advisor business.Student loan forgiveness is taxable again. How to plan for a five-figure IRS billTrump accounts have 'more unanswered questions than answered,' expert saysHome sellers start getting lower prices at 70, research shows — here's whyBigger SALT cap may 'drive higher refunds,' tax expert says — who benefitsTrump accounts could grow to $50,000 or more, president says. Advisors weigh inHousing affordability isn't just hurting buyers: More homeowners are falling behindIn an affordability crunch, Gen Z adults lean on their parents for financial helpPenalty-free withdrawals from 401(k)s can now pay for long-term care insuranceTax changes Social Security beneficiaries may see based on new laws53% of investors with a required withdrawal for 2025 still haven't taken it: FidelityThe first step workers should take after a layoff, as job losses soar More than 12 million student loan borrowers are enrolled in IDR plans, according to higher education expert Mark Kantrowitz.Because that forgiven federal student debt may now be considered income by the IRS, the tax liability can be substantial. The average loan balance for borrowers enrolled in an IDR plan is around $57,000, said Kantrowitz. For those in the 22% tax bracket, having that amount forgiven would trigger a tax burden of more than $12,000, Kantrowitz estimated. Lower earners, or those in the 12% tax bracket, would still owe around $7,000.As a result, those who expect student loan forgiveness this year should start planning for the bill now, experts say. Here's what you can do. Eligibility date and type of loan forgiveness is key The new potential tax liability comes at the same time that many student loan borrowers have faced delays in accessing the debt forgiveness to which they're entitled. But in a recent settlement between the American Federation of Teachers and the Trump administration, Education Department officials clarified that borrowers who became eligible for student loan forgiveness in 2025 won't owe federal taxes on the relief — even if their debt isn't officially discharged until later.That means if you received confirmation in 2025 that you're eligible for debt cancellation, you should save that dated record, said Nancy Nierman, assistant director of the Education Debt Consumer Assistance Program in New York. You may be able to use that document to prove you were entitled to the relief before the tax-free provision lapsed, Nierman said. One helpful way to determine if your loan forgiveness will be taxable: Was your last payment on an IDR plan made in 2025 or 2026? In the former case, you likely won't face a bill; in the latter, you probably will, Kantrowitz said. It's also important to know that some kinds of student loan forgiveness are still not taxable at the federal level, including relief received from programs including Public Service Loan Forgiveness, Teacher Loan Forgiveness, Borrower Defense and the Total and Permanent Disability Discharge, Kantrowitz said. How to prepare for the federal tax bill For some student loan borrowers, "big balances are going to be forgiven," said certified financial planner and certified student loan professional Landon Warmund at Reliant Financial Services in Kansas City, Missouri.In a recent court filing, the Trump administration said it had identified more than 40,000 borrowers eligible for federal student loan forgiveness in January. Because those forgiven balances could count as regular income starting this year, borrowers may face other tax consequences, as well, he said. For example, forgiveness could thrust you into a higher tax bracket, said Warmund, who is also a member of CNBC's Financial Advisor Council. Plus, many tax breaks, including the student loan interest deduction, get smaller or disappear once income exceeds certain thresholds. window.addEventListener("message",function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}); window.addEventListener("message",function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}); You can work with a financial advisor or tax professional, who will keep all these factors in mind, to estimate your future tax bill, said Ethan Miller, a CFP and founder of Planning for Progress in the Washington area. Miller specializes in student loans. You'll also want to assess whether you owe any taxes to your state, as some have their own tax policies regarding the relief."Hopefully, you can take the amount you were paying on your loans, start putting that aside and building up a pot of money," Miller said. But even with advanced planning, some lower earners could struggle to save enough before next year's tax bill, he added. What to do if you can't afford the tab Typically, taxes are due by the filing deadline — which will be April 15 in 2027 — but some borrowers may qualify for an IRS payment plan, Miller said.If your total tax liability is $50,000 or less, including your balance, penalties and interest, and you're current on tax returns, you can apply for a short-term (180 days or less) or monthly payment plan via your IRS online account, according to the agency.However, fees may apply, depending on the length of your payment plan. Plus, penalties and interest could accrue until the balance is paid in full. Finally, other borrowers in a difficult financial situation may be able to apply for an Offer in Compromise, which may result in the IRS allowing you to pay a smaller amount than you owe.

Mortgage rates dropped below 6%, matching their lowest levels since 2022, as economic concerns over tariffs and a recent GDP report cause bond yields to drop. View More

watch nowVIDEO1:2501:25Mortgage rates dip below 6 percentPower Lunch A stock market sell-off had investors rushing to the relative safety of the bond market Monday morning, causing yields to drop and mortgage rates to follow. The average rate on the popular 30-year fixed mortgage fell to 5.99% on Monday, according to Mortgage News Daily, matching its lowest levels since 2022. Last year at this time the rate was 6.89%. The drop in yields is due to a combination of factors, including new uncertainty over tariffs, cooling inflation and economic weakness shown in a lackluster gross domestic product report Friday. While rates briefly dipped into the 5% range for a few hours in January, they bounced back that same day. That is unlikely this time around, according to Matthew Graham, chief operating officer at Mortgage News Daily. "This visit to the high 5's looks more sustainable on paper," Graham said. "As long as the broader bond market doesn't sell-off in any major way, mortgage rates stand a better chance of remaining closer to present levels than they did last time. And if the broader bond market improves further (i.e. 10yr yields dipping under 4.0%), mortgage rates would likely make incremental gains."The drop in rates will likely incite more refinancing, which has been surging over the last several weeks. Applications to refinance a home loan are about 130% higher than they were a year ago, according to the Mortgage Bankers Association. Get Property Play directly to your inboxCNBC's Property Play with Diana Olick covers new and evolving opportunities for the real estate investor, delivered weekly to your inbox.Subscribe here to get access today. Lower rates are a positive sign heading into the all-important spring housing market. Buyers entering the market today will have more purchasing power than they did last spring. For example, a buyer putting 20% down on the median priced home, about $400,000 according to the National Association of Realtors, would have a monthly payment of $1,916 for the principal and interest. One year ago, that payment would have been $2,105, a difference of $189.While the difference in the monthly payment may not seem like a lot, more borrowers would qualify for a loan in general at today's lower rates. The Realtors' chief economist, Lawrence Yun, noted in his January pending home sales report that, "With mortgage rates nearing 6%, an additional 5.5 million households that could not qualify for a mortgage one year ago would qualify at today's lower rates."He did make the caveat that most newly qualifying households do not act immediately, "but based on past experience, about 10% could enter the market—potentially adding roughly 550,000 new homebuyers this year compared with last year."So far, applications for a mortgage to purchase a home have not seen a major reaction to lower rates. Those applications were just 8% higher year over year in mid-February. Correction: This story has been updated to correct that Monday's 30-year fixed mortgage rates matched their lowest level since 2022. A previous version misstated the milestone.

GLP-1 drugs for weight loss are growing in popularity in the U.S. and across the world. Here's what some users say about their experiences with the medicines. View More

GLP-1 drugs have changed the lives of Americans and others across the world, in ways both expected and unexpected.Originally used to help people with Type 2 diabetes manage their blood sugar levels, GLP-1 drugs have achieved a widespread level of popularity and notoriety as weight-loss medicines over the past half-decade. The drugs, which include brands like Novo Nordisk's Wegovy and Eli Lilly and Company's Zepbound, essentially mimic gut hormones to function as appetite suppressants.Roughly 20 million to 25 million patients worldwide could be taking a GLP-1 manufactured by one of those two companies, Eli Lilly CEO David Ricks estimated during a Feb. 4 interview with CNBC's "Squawk Box." Among Americans, 18% of adults say they've taken a GLP-1 drug at some point, and 12% say they're currently taking one, according to a KFF Health Tracking Poll published on Nov. 14.The drugs have brought with them a host of unexpected byproducts for users' daily lives. By and large, users are seeing their weight drop. Some say they find themselves drinking less alcohol, spending less on groceries or no longer craving junk foods — or much food at all.Others have reported more unglamorous side effects like gastrointestinal distress, shrinking muscle mass and sagging skin from the weight loss. GLP-1s typically have a list price of more than $1,000 per dose, and while those prices can drop significantly under some health insurance plans, coverage can be inconsistent across insurers. Some users report rapid weight gain after stopping GLP-1s — a concern that researchers have raised in recent studies — and the drugs' longer-term side effects aren't particularly well-studied yet, some doctors say.Eli Lilly and Novo Nordisk spokespeople told CNBC Make It that the companies stand behind the safety and efficacy of their GLP-1 medicines, and that the drugs' labels include FDA-approved warnings of known risks.The spokespeople also pointed toward their companies' self-pay pharmacies for users without health insurance coverage, and said they're attempting to close coverage gaps so more insurance plans cover GLP-1s. Anyone experiencing side effects from an Eli Lilly medicine can call The Lilly Answers Center at 1-800-LillyRx (1-800-545-5979), that company's spokesperson noted.Eli Lilly and Novo Nordisk currently dominate the market for FDA-approved GLP-1s: Each brings in billions of dollars in GLP-1 sales annually, and both have spent or plan to spend billions on expanding the drugs' production. Patient and insurer spending on GLP-1s in the U.S. rose to $71.7 billion in 2023, up from $13.7 billion in 2018, according to an April 2025 research letter from American Medical Association researchers.As the industry grows, some analysts predict that GLP-1 sales will rise to $100 billion by 2030. Companies like Pfizer, AstraZeneca and Roche are now developing competitor medicines for weight loss. Advertisements for GLP-1s now include Super Bowl commercials featuring celebrities like tennis legend Serena Williams, "Saturday Night Live" actor Kenan Thompson and Grammy-winning record producer DJ Khaled.CNBC Make It surveyed a group of people who have taken GLP-1s about their personal experiences with the drugs. Here, four of them discuss the results they least expected and whether they consider the medicine worthwhile. Always consult with your primary care physician before making any changes to your routines that could impact your health. 'I have alarms set to remind myself to eat' —Daniel Daines-Hutt, 44, head of content at an online education platformI've been very fit for most of my life, until I was about 35 and my dad got sick. Even though I still exercised a bunch, between stress and work, I kept putting on weight. I hired a nutritionist, and I was a success story for a little bit. But when I stopped the restrictive diet, I couldn't keep the weight off.I'm in my eighth week right now of taking a GLP-1. It's summer here — I'm based in New Zealand — and we're having ice cream and things like that, but I noticed that I'm eating far less of it. I just don't want it. I'm not having cravings for it. I'm down 5.3 kilograms (nearly 12 pounds).I have so much more energy. I go to jiu-jitsu twice a week, and I'm there with guys who are in their 20s and 30s who are much more athletic and stronger and faster. I'm able to hold my own a lot better.I do get nauseous sometimes, for about 10 minutes [at a time]. The main thing is just remembering to eat. I have alarms set to remind myself to eat. Otherwise, you can go 12 hours and suddenly you realize you're grumpy and you're not sure why, because you don't really have those hunger pains.On groceries, I've gone from what could have easily been between $200 and $300 to $100 or $80, [or] $50 some weeks. I still treat myself to a burger and fries on the weekend, but I'm having, like, a kid's burger — because I noticed I was struggling to finish the "adult" burger. Even then, if I've finished my fries first, I'm like, "I don't even know if I can eat this burger."Obviously, it's not cheap to take the stuff. The amount of money I'm saving [on food] and the amount of money I'm spending on the medicine almost balances out. 'If I smelled fried food, it literally made me sick to my stomach' —Rachell Dumas, 34, nurseMy story is probably unique from what you [typically] hear. I have a rare condition called idiopathic intracranial hypertension (IIH). When my weight is higher, fluid builds up in my brain [which leads to other serious health issues]. One of the ways to keep the fluid down is to get my weight down.After researching with my doctors, we found this study where people with IIH were on GLP-1s, and it decreased the pressure in their brain. I tried a GLP-1, and since then, I've weaned off all my [other] medication. I lost 80 pounds.The first month, I was vomiting. I was afraid to eat new healthy things because of the repercussions of the medicine. If I ate too much — and too much on a GLP-1 is not much at all — I had really bad GI symptoms, so I made sure my portions were really, really small. I started taking prebiotics and probiotics. I drank more water. I took a stool softener.I don't eat any fried foods or drink sugary drinks. If I eat food high in salt, fried food or generally unhealthy food, I feel the repercussions very quickly. In the beginning, I experienced repulsion towards [those] foods: If I smelled fried food, it literally made me sick to my stomach. I've been able to tolerate it now.I have to remind myself to eat and set alarms to eat, because I can go 24 hours and not eat, and that's not healthy. I don't feel called to go out to eat, because I feel like it's a waste of money. When your body undergoes a quick weight loss, like 80 pounds in six months, it's a lot of physical changes. But now I feel really confident about it. 'There's a lot of stigma out there regarding the shot' —Taylor Ragano, 35, tech entrepreneurI always struggled with weight gain [and some health issues related to it]. I was on a diet since I was 14 years old. [GLP-1s are] better than anything I've ever done regarding weight loss.It's just quieted that food noise that makes you obsess over food. Food noise, for me, is being constantly hungry and just thinking about food. Looking at the menus obsessively before I go out to eat, eating and never feeling full, and just constantly craving food. I went from a live-to-eat mentality to an eat-to-live mentality.I spend like $400 every six-to-eight weeks on GLP-1s. My grocery bill has gone down a lot, and I'd rather spend money on events or life experience than going out for dinner. Another thing, I don't know what it is, but I don't really want to drink much alcohol anymore.[Since starting on GLP-1s] I was in a commercial as an extra. I do Disney princess gigs on the side. I was Ms. Virginia North America 2024. I did pageants when I was a teen, but I never thought I could do it again, especially given my age. I can't believe I get to do these things.There's a lot of stigma out there regarding the shot, and I feel like so many people could really benefit from it. I know people think you cheated by doing the shot, but I put my health as a priority. GLP-1s allow 'me to get physically healthy without having to be mentally unhealthy' —Elisa Vitalo, 44, health tech executiveI was very hesitant to start on a GLP-1. I had been on so many diets and really struggled with eating disorders in the past. I finally got to a mental place where I felt OK with who I was, and I was really concerned that focusing on my weight again was going to upset the sense of peace.What finally pushed me over the edge was having a lot of issues with my knees. Now, I have turned into a huge advocate of GLP-1s. It's been the best thing in terms of allowing me to get physically healthy without having to be mentally unhealthy in the process.I just don't think about food. The food noise really does go away. I heard a lot about side effects like people vomiting and having a lot of physical reactions. I have been fortunate, I haven't had any of that. I did not realize about the constipation issues, though. And the biggest side effect for me was heartburn. I have become an expert on the Tums chewy bites.I was surprised by my reduction in alcohol consumption. I'm buying higher-end clothes than I would have before because, one, I look better in them, and, two, I can actually fit into them. When you are in plus sizes, you have a limited selection of what you can purchase, and it's usually not the highest quality.For those of us who have been chronically chubby, it's a health condition. I'm taking a drug that works. Why wouldn't I do that in order to treat my condition? It just feels like a silly stigma for us to put on people. Like, who cares how you did it? As long as you are getting healthy and you're losing the weight that you need to, don't let other people get in your head about that.These conversations have been condensed and edited for clarity.Want to get ahead at work with AI? Sign up for CNBC's new online course, Beyond the Basics: How to Use AI to Supercharge Your Work. Learn advanced AI skills like building custom GPTs and using AI agents to boost your productivity today. Take control of your money with CNBC Select CNBC Select is editorially independent and may earn a commission from affiliate partners on links.Six ways to file your taxes for freeWhat is a good monthly retirement income in 2026?How to buy gold from CostcoThe 6 best personal loans of February 2026 VIDEO2:3202:32Even billionaires worry their kids won't keep jobs in this marketPower Players

PNGS Reva Diamond Jewellery raised Rs 170.58 crore from anchor investors ahead of its IPO opening on February 24. Global institutions like Citigroup Global Markets Mauritius and Société Générale, along with domestic mutual funds, participated, providing early support for the Rs 380 crore IPO through the book-building route. View More

PNGS Reva Diamond Jewellery has raised Rs 170.58 crore from anchor investors ahead of its initial public offering, which opens for public subscription on February 24. The company allotted 44,19,200 equity shares at Rs 386 per share to anchor investors, according to an exchange filing. Among the key global institutions participating in the anchor round were Citigroup Global Markets Mauritius and Société Générale. Other investors included Astorne Capital VCC - Arven, Aanjay Ageless AIF Fund and Holani Venture Capital Fund - 1. From the domestic mutual fund segment, Tata India Consumer Fund and Groww Mutual Fund - Large Cap Fund participated in the anchor book. Out of the total anchor allocation, 11,91,744 equity shares were allotted to two domestic mutual funds through four schemes. The anchor subscription comes a day ahead of the IPO opening for public bidding. The IPO is entirely a fresh issue of up to Rs 380 crore. The offer will open on Tuesday, February 24, 2026, and close on Thursday, February 26, 2026. Live Events Investors can bid for a minimum of 32 equity shares and in multiples thereafter. The issue is being offered through the book-building route, with up to 75% of the net offer reserved for qualified institutional buyers, up to 15% for non-institutional investors and up to 10% for retail investors. PNGS Reva Diamond Jewellery is a retail-focused jewellery brand engaged in the sale of diamond jewellery and jewellery studded with precious and semi-precious stones. Also read: Carlsberg said to begin $700 million IPO process for India unit Smart Horizon Capital Advisors is the book-running lead manager for the issue, while Bigshare Services is acting as the registrar. The anchor participation from global institutions and domestic mutual funds is expected to lend early support to the IPO as it enters the three-day subscription window. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)