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The Dow Jones Industrial Average dropped several hundred points upon opening Friday morning hours after President Donald Trump confirmed he had been diagnosed with COVID-19.The Dow Jones Industrial Average sank more than 200 points immediately upon opening at 9:30 ET Friday morning. The market remains down about 150 points as of 10 a.m. ET on Friday. 360
The COVID-19 pandemic has impacted businesses and industries around the country as unemployment rates are at historic highs and many are wondering how and when our economy will recover."One of the biggest impacts is going to be on workers' wages. They’re not going to recover for years. So we’re going to see zero wage increases probably for several years moving forward more than the Great Recession (of 2008 and 2009) because this hit was more than the Great Recession," says Jack Strauss, the Chair of Applied Economics at the University of Denver.Strauss predicts wages will likely stay stagnant in almost all industries. In some cases, some people will see their wages go down."This is the first time many are being cut. University of Arizona, University of Denver, where I’m from, and other universities, we have had wage cuts of 5-10%. Didn’t happen in 2008; we were frozen. But this is the first time 5-10%" says Strauss.In California, the Fresno Regional Workforce Development Board works to help businesses find qualified workers and the unemployed find their next job. Executive Director Blake Konczal says he doesn't expect people to start to really look for another job until unemployment benefits run dry. But once they do, there will be a mad dash for any available jobs."When you’re looking for work, when unemployment is that rampant, the question regrettably isn’t, ‘Why aren’t I getting a higher wage?’ People want a wage," says Konczal.The good news, though, is that economists don't expect the cost of living to increase much.“Because wages have been low, demand has been low, so the cost of living has only gone up gradually," says Strauss.But with high unemployment and few wage increases, people will likely be spending less."That negative effect will be moving forward in a lot of industries relying on discretionary items because you're still going to buy food, because that’s a necessity, but you’re not going to go on a vacation, you’re not going to buy a new car," says Strauss.Konczal is worried about how this economic downturn will affect small businesses…“And the people who worked for them,” Konczal said. “In nine out of 10 times those types of businesses are the strength of our economy, sets us apart. But in this particular quixotic COVID environment, they’re the ones who are really getting hammered."Even before the pandemic, experts say there was still a high demand for qualified employees. And just like the Great Recession, our new economic reality could have some people heading back to school in order to land a job or higher wage. 2585

The Food and Drug Administration approved on Wednesday a treatment for the Ebola virus. This is the first FDA-approved treatment for Zaire ebolavirus infection in adults and kids.Zaire ebolavirus is one of four Ebola virus species that can cause potentially deadly infections. It is transmitted through direct contact with blood, tissue or body fluids of an infected person or wild animal.The treatment, Inmazeb, is a mixture of three monoclonal antibodies and was created by Regeneron Pharmaceuticals. The three antibodies work together to bind to the glycoprotein on the surface of the Ebola virus and block it from entry into the body’s cells.Inmazeb was tested in the Democratic Republic of the Congo during an Ebola virus outbreak in 2018-2019 through a partnership between the local government and the National Institutes of Health.A vaccine for Ebola virus was approved by the FDA in December 2019.Regeneron is also the company behind an experimental antibody cocktail that was given to President Donald Trump following his diagnosis of COVID-19, and which he said “cured” him. Trump was also prescribed the antiviral drug remdesivir and the steroid dexamethasone at the time.Regeneron’s COVID-19 treatment is a mix of two powerful antibodies that are believed to boost the immune response to the coronavirus. Early results seem promising, according to initial tests and a press release from the company.The company has submitted an application to the FDA to get emergency approval of their COVID-19 treatment. 1525
The Charlotte area is getting inundated with rain. You can see a car submerged along Freedom Drive. @FOX46News pic.twitter.com/TNwIL2MAT8— Derek Miloff (@Dmiloff) November 12, 2020 188
ing curveball up in the zone.The Red Sox will get either the Los Angeles Dodgers or Milwaukee Brewers in the postseason. The two teams have held hitters to a .193 average, according to ESPN.com. The Astros were third on that list (.199) entering Thursday night, though, and are packing their bags.Regardless of the opponent, Boston's deep lineup is enough to power the team to a ninth World Series title. What's Next?The Red Sox await the winner of the National League Championship Series between the Los Angeles Dodgers and Milwaukee Brewers. The Dodgers lead the series 3-2, with Game 6 set for Friday night at Miller Park in Milwaukee. 4736
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