/etc/hosts file not redirecting
It's extremely picky about the format of the /etc/hosts file. You have a "/" after the domain name, and this will confuse it (actually, it'll think that's part of the host name, and since you're trying to connect to the host "www.cnn.com" not "www.cnn.com/", it just doesn't match). So just remove the "/" and you should be good. There's no need to reset any caches.