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The US stock market sank deeper into the red following sluggish economic reports on Monday and bad news from a couple of blue-chip giants.The Dow fell 600 points by late afternoon, or 2.6%. The S&P 500 lost 2.6% and retreated to its lowest level of the year. And the Nasdaq joined the Dow & S&P 500 in negative territory for 2018. All three indexes have plunged about 7% so far this December.The Dow closed down 507 points for the day.And the Russell 2000 index of small-cap stocks tumbled into a bear market, marking a 20% decline from the record highs notched in late August.A weaker reading from the New York Federal Reserve about manufacturing in the Empire State and a drop in confidence from the nation's homebuilders weighed on the markets."Investors are zeroing in on this idea of slower growth for 2019," said Michael Arone, chief investment strategist at State Street Global Advisors. "More people are worried about a recession in late 2019 or 2020."The political noise in Washington isn't helping either. President Trump, in a tweet Monday morning, repeated his criticism of the Federal Reserve for its recent rate hikes. The Fed meets Wednesday and is widely expected to raise rates again.But Trump tweeted that "it is incredible that with a very strong dollar and virtually no inflation, the outside world blowing up around us, Paris is burning and China way down, the Fed is even considering yet another interest rate hike. Take the Victory!"The Fed is supposed to be politically independent. Any evidence that it might be swayed by attacks from Trump could unnerve the markets."If the Fed doesn't raise rates it will look like it's succumbing to the bullying of Trump's tweets," Arone said.But Nancy Perez, managing director at Boston Private, said the Fed is likely to slow down its pace of rate hikes in 2019 simply because the economy is slowing, not because of pressure from Trump.Perez added that the recent market turmoil is justified because investors are readjusting to this fact."We have been getting a bump in profit margins due to lower taxes but the earnings growth itself is not sustainable," Perez said. "Projections will come down and volatility will continue." 2247

The US Food and Drug Administration on Thursday announced the approval of?the first generic version of EpiPen.The auto-injector pen delivers the drug epinephrine to patients experiencing a severe allergic reaction that, if untreated, could develop into the life-threatening condition of anaphylaxis. The medication is delivered into a muscle as a single dose, like a shot, through an injector pen with a spring.Allergies from food, bug bites, medications and latex can cause life-threatening reactions.The newly approved generic is made by Teva Pharmaceuticals and offers an alternative for patients who, until now, have been able to use only the brand-name EpiPen made by Mylan. It is approved in a smaller dose for children, as well.There are two other brand products on the market for a severe allergic reaction: Adrenaclick and Auvi-Q.The newly approved option made by Teva is the only approved non-brand option and can be substituted only for Mylan's EpiPen."Today's approval of the first generic version of the most-widely prescribed epinephrine auto-injector in the U.S. is part of our longstanding commitment to advance access to lower cost, safe and effective generic alternatives once patents and other exclusivities no longer prevent approval," FDA Commissioner Dr. Scott Gottlieb said in a statement announcing the approval.In recent years, Mylan came under fire for a price increase that put the product out of reach for many who needed to keep the drug on hand. 1488

The UK has accused Syria and Russia of preventing independent chemical weapons experts from entering the city of Douma, hit by a suspected gas attack that Western leaders have blamed on the Syrian government.A fact-finding team from the Organization for the Prohibition of Chemical Weapons (OPCW) arrived in Syria on Saturday, the same day the US, UK and France carried out airstrikes against Syrian government targets in response to the April 7 attack in Douma.But by Monday, the team had still not been granted safe passage, according to the UK envoy to the OPCW, Peter Wilson. The US expressed concerns that Russia may have tampered with evidence at the site.The OPCW team is tasked with determining whether banned substances were used in the attack, a charge that both Syria and its most powerful ally, Russia, have vehemently denied.Syria's Deputy Foreign Minister Fayssal Mikdad said Monday his country was ready to facilitate the OPCW team in any way to carry out its mission, the state-run SANA news agency reported, while Kremlin spokesman Dmitry Peskov did not respond directly to CNN's question on whether Russia had blocked the experts. Peskov said only that Russia was against "groundless" accusations about who was responsible for the attack.Russian Deputy Foreign Minister Sergei Ryabkov said the OPCW team's arrival was hampered by the weekend air strikes, state media RIA Novosti reported.The suspected chemical attack is the latest issue to heighten tensions between Russia and Western powers. More than 100 Russian diplomats were expelled from more than 20 countries in March over the poisoning of a Russian ex-spy on British soil, which the UK and US has blamed on the Russian government. Russia denies the accusations.Russian officials last week claimed British intelligence agencies had helped stage the suspected chemical attack in Douma."Yet again, Russia is spreading conspiracy theories and misinformation designed to undermine the integrity of the OPCW's fact finding mission," Wilson said in a statement."A significant body of information, including intelligence, indicates the Syrian regime is responsible for this latest attack."The US envoy to the OPCW, Kenneth D. Ward, said he was concerned that Russia may have interfered with the site of the Douma attack."We are concerned they may have tampered with it with the intent of thwarting the efforts of the OPCW Fact Finding Mission to conduct an effective investigation. This raises serious questions about the ability of the (team) to do its job," he said in a statement Monday.Russian Foreign Minister Sergey Lavrov said last week his country had sent experts to the site and found "no trace" of chemical weapons use. On Monday, he told the BBC's Hardtalk show that he guaranteed there had been no Russian tampering.Around 75 people, including children, were killed in the Douma assault, UK officials have said, while 500 people were treated in the attack's aftermath with symptoms consistent with chemical weapons exposure, the World Health Organization reported, citing its partners on the ground.The OPCW has recorded more than 390 allegations of chemical weapons use in Syria since its investigation began in 2014, Wilson said. 3222

The University of Washington’s Institute for Health Metrics and Evaluation now projects that 67,000 American lives would be saved between now and December 1 by near universal wearing of masks.The IHME released the updated model on Thursday. As part of the update, the IHME said that four states, Arizona, Florida, Mississippi, and South Carolina, have hit an important metric of a daily death rate of eight per one million residents, and that those states should re-impose statewide closures of non-essential businesses.The IHME’s coronavirus projections have been frequently cited in the past by the White House’s coronavirus task force. The group uses state data along with other metrics to create projections on the number of coronavirus-related deaths throughout the US.The model projects with inconsistent use of masks, the US death toll for the coronavirus will be up to 295,000 by December 1, an increase from the current figure of 158,000, per Johns Hopkins University data. The IHME’s projections drops considerably to 228,000 if masks are worn universally outside of the home.IHME director Dr. Christopher Murray said at a news conference on Thursday that mask wearing mandates work, but communities also respond when they see cases are spreading.“People do respond to the circumstances in their community,” Murray said. “Mandates have an important effect.”One thing the model does not take into account is the use of therapeutics of a possible vaccine. Murray said that the IHME is closely monitoring the effectiveness of two potential therapeutics – remdesivir and dexamethasone – and may adjust future models as more is learned about those drugs.The model expects the number of coronavirus-related deaths to ebb and flow into the fall, but begin to increase by November. "November is a month we expect the spread to increase due to seasonality," Murray said. We are expecting considerable daily deaths. That pushes up our projections."“We expect it rise later in the fall,” Murray added.One cause for concern comes at the end of November when families begin to travel for holidays such as Thanksgiving.Murray said that while mask-wearing is not necessary when around family members of the same household, he said mask-wearing may be necessary for holiday gatherings. Murray said his family is taking the recommendation one step further, and is simply not gathering with extended relatives this fall.What’s built into the IHME’s projection is that a number of states will need to implement stricter closures in order to slow the spread. As part of the IHME’s recommendation, states implement closures of non-essential businesses when there is a threshold of eight deaths a day per million. Also part of the modeling is based on 50% of schools being closed in each state for the upcoming year. Murray said with many schools opening or implementing hybrid models, more will be learned in the coming weeks on how easily the virus spreads within schools.Recent measures in Arizona, California, Florida, and Texas has allowed a small decline in cases, but deaths in those states have not dropped off, according to Murray.“We have been seeing cases peaking and hospitalizations peaking and deaths not quite yet peaking, but we expect them to peak in the near future but we don’t expect a sharp decline," Murray said.To see a state-by-state breakdown of the IHME’s projections, click here. 3403

The US Olympic Committee wants to revoke USA Gymnastics' status as the sport's governing body as the organization struggles to recover from the sex abuse scandal involving?Larry Nassar.USOC CEO Sarah Hirshland has offered USA Gymnastics the option of surrendering its status voluntarily.In an open letter Monday to the United States gymnastics community, Hirshland wrote, "We believe the challenges facing the organization are simply more than it is capable of overcoming in its current form."She told the athletes they "deserve better."CNN has reached out to USA Gymnastics for reaction.The announcement comes amid turmoil for the current governing body. Nassar is the former team doctor for USA Gymnastics.Last month, USA Gymnastics lost its second president in two months when former US Rep. Mary Bono stepped down as interim president.Bono had taken over just a month after embattled president and CEO Kerry Perry quit. Perry, who held the job for nine months, was criticized for what many people characterized as inadequate action during the Nassar abuse fallout.Bono came under fire in her first few days. In one instance, a September tweet surfaced of Bono defacing a Nike logo after Nike featured former NFL quarterback and civil rights activist Colin Kaepernick in its advertising campaign. (Nike is a major sponsor of Olympic champion Simone Biles, a megastar for USA Gymnastics.)Biles was critical of Bono. She tweeted: "don't worry, it's not like we needed a smarter usa gymnastics president or any sponsors or anything," Biles tweeted. Others also criticized Bono's tweet as being tone-deaf, saying the suppression of athletes' voices allowed Nassar's abuse to continue.Days after Bono's resignation, former USA Gymnastics head Steve Penny was arrested in connection with accusations he removed documents linked to the Nassar sexual abuse case from the Karolyi Ranch gymnastics training facility in Texas, authorities said. A judge set Penny's bail at ,000.Nassar was already serving 40 to 175 years in Michigan for sexually abusing women and girls under the guise of performing medical treatment when he was indicted in June on charges linked to allegations at the Karolyi Ranch.He faces six counts of sexual assault of a child. Meanwhile, former?USA Gymnastics trainer Deborah Van Horn is facing one count of sexual assault of a child in Texas, prosecutors said. 2403