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The White House has cut ties with a senior adviser to first lady Melania Trump after it was revealed the aide's firm was paid close to million to plan events around President Donald Trump's inauguration.The first lady's office said in a statement that it ended its contract with Stephanie Winston Wolkoff, who had been working as a special government employee."The Office of the First Lady severed the gratuitous services contract with Ms. Wolkoff. We thank her for her hard work and wish her all the best," said spokeswoman Stephanie Grisham.The New York Times first reported Wolkoff's departure.Inauguration committee tax documents revealed last week showed WIS Media Partners, a company based in Marina Del Ray, California, and founded by Wolkoff, received ,843,509 for "event production services."The roughly million the company received for its work on the inauguration was likely passed through to other vendors and event coordinators. The New York Times reported that Wolkoff personally received .62 million for her work.She told the Times on Monday that most of the million was paid to subcontractors, and that the .62 million was divided among 15 employees. Messages left by CNN with Wolkoff were not immediately returned.Last week, Grisham said Melania Trump "had no involvement" in planning the inauguration and had "no knowledge of how funds were spent."Trump and Wolkoff are longtime friends.  1438

The stock market is still sinking but the selling frenzy has eased just a bit.The Dow opened down about 100 points on Thursday morning, rebounding from sharp overnight losses. The Nasdaq started positive before slipping back into the red. The S&P 500 lost about 0.6%.Wall Street is attempting to recover from Wednesday's plunge, which wiped 832 points off the Dow. The Nasdaq in particular has gotten rocked in recent days. Investors have bolted from the index, which contains many tech stocks, because they are concerned about holding some of the market's riskiest stocks in a downturn. A proxy for the tech sector had its sharpest plunge in seven years on Wednesday.The S&P 500 was on pace for its sixth-straight decline, something that hasn't happened since just before President Donald Trump's election nearly two years ago. And the Nasdaq has already plunged 8% this month."Halloween started early this month for investors," Ed Yardeni, president of investment advisory firm Yardeni Research, wrote to clients.Concerns about inflation were eased a bit by a report released on Thursday that showed consumer prices rose in September less than feared.Still, tech stocks including Amazon and Apple lost ground in early trading. Square (SQ) slumped 6% after announcing the departure of its chief financial officer. But other tech stocks showed signs of life. Netflix and Twitter were trading flat to slightly higher.Stocks have turned sharply south because investors are increasingly concerned about rising interest rates. As the Federal Reserve raises rates to prevent runaway inflation, investors have been getting out of bonds, driving down their price and driving up their yields. Suddenly, the return on bonds has become competitive with some stocks — particularly risky tech stocks.Rising interest rates also increase borrowing costs for households and businesses, eating into corporate profits. America's increasing debt load, a trade war with China and a slowing global economy have also unnerved investors.Wednesday's "rout has shaken investor confidence," Nicholas Colas, co-founder of DataTrek Research, wrote to clients. "That will take time to rebuild."The Dow plunged 832 points, or 3.2%, on Wednesday. Tech stocks took a beating, sending the Nasdaq tumbling 4% — its worst day since the Brexit referendum of June 2016.That dragged down stock indexes in the United Kingdom, Germany and France on Thursday, all of which fell more than 1%. Benchmark indexes in Shanghai and Tokyo closed down 5.2% and almost 4%, respectively. Hong Kong's market was down over 3%.The S&P 500's 3% plunge on Wednesday was rare. It's only happened in 0.6% of all trading days since 1952, according to Bespoke Investment Group.The good news is that the market often springs back to life after such a deep sell-off. Bargain hunters scoop up beaten-down stocks and calmer heads prevail. On average, the S&P 500 has gained 0.4% the day after a 3% slide, Bespoke said.That's what happened in February after the S&P 500 twice suffered 3% drops caused by fears about rising bond yields. Both sell-offs were followed by rebounds of more than 1% the next day.But Yardeni is optimistic the market will rebound because corporate profits are robust and no recession is in sight."We remain bullish on the outlook for earnings, and expect the market to recover and make new highs going into next year," Yardeni wrote.The-CNN-Wire 3435

The World Series and NLCS will be open to fans. According to MLB, 11,500 fans will be allowed into Globe Life Field in Arlington, Texas.The ALCS, held in California this year, will not have fans in the stadium, as of now.With 11,500 fans in the stadium, Globe Life Field will be roughly 25% full. The NLCS will mark the first time fans will be permitted into an MLB playoff or regular season game this year.MLB said the following protocols will be enacted:· Tickets in the seating bowl will be sold in groups of four contiguous seats, called pods. Individuals may purchase a limit of one pod per NLCS and World Series game.· Seats within each pod cannot be broken apart for sale.· Each pod will be a minimum of six feet from each other.· No seats will be sold within 20 feet of where a player can be located on the field, in the dugouts or in the bullpen.· Masks will be mandatory for all fans except when actively eating or drinking at their ticketed seats.· Hand sanitizing stations will be available throughout the ballpark.· No bags will be permitted except for those that are carried for medical reasons or manufactured diaper bags that accompany infants and young children.Tickets go on sale October 6. 1216

The Smithsonian announced the reopening of two prominent Washington, D.C., area attractions that have been shuttered during the spread of the coronavirus.The National Zoo located in Washington and the National Air and Space Museum in nearby Chantilly, Virginia, are scheduled to reopen Friday with a number of safety precautions in place. All other Smithsonian attractions will remain closed. Most other prominent D.C. destinations, including the White House and Capitol, also remain closed to visitors.Both at the zoo and the National Air and Space Museum, all visitors age 6 and over will be required to wear face coverings. The zoo and museum are also requiring timed tickets, and has scaled back its hours to close at 4 p.m.“As a public entity, we thrive on serving our visitors and making our collections readily available to them, virtually and in person,” said Lonnie Bunch, Secretary of the Smithsonian. “However, the safety and well-being of our staff, visitors and volunteers come first and are paramount, so we are taking a deliberate, phased and cautious approach to reopening. Our goal is to be safe and measured in order to adjust and pivot as necessary.” 1177

The travel industry is still reeling from the effects of the COVID-19 pandemic as millions of people have lost their travel-related jobs. Now, Congress is debating a bill that would provide thousands of dollars in travel tax credits to families."This could be used for airfare, for hotel stays, for meals and attractions within a certain distance away from home, let's say." says Tori Emerson Barnes with the U.S. Travel Association.Modeled after the homebuyer tax credit that was created in the recession of 2008, Barnes says, if passed, this financial incentive would be crucial toward putting the travel industry and the millions of people it employs back to work."Post 9/11, it took about 18 months for the travel industry to come back. From an economic standpoint, this is nine times worse than 9/11, so really what we have to do is get people moving again to get the economy back," says Barnes.The travel tax credit would pay back families 50% of their travel expenses up to ,000. The refund would be for travel expenses made between the time of the bill's enactment and the end of 2021."We know that we need to get people traveling again in a health and safe way so we think that establishing an individual travel tax credit that can help motivate folks and push them a little bit into the market will go a long way. We’ve been working with members of Congress on both sides of the aisle and administration," says Barnes.Chris Gahl of Visit Indy says the travel tax credit would be huge for businesses in Indianapolis."The tourism eco-system is made up of lots of different businesses. Most consumers would think of hotels, airlines, museums, restaurants and bars. But there are also companies that clean linens for the hotels, flower companies," says Gahl.As for easing travelers concerns amid COVID-19, Gahl says, "From Indiana’s perspective, from the capital of Indianapolis, we have taken great strides in putting people first and foremost and the health of our residents and subsequently our visitors.""We all believe that there needs to be appropriate sanitation, there needs to be appropriate barriers in place and we support the use of masks. You know, we think a phased and layered approach is critical to the health and safety of the American public but we don’t think you have to pick between the public health or the economic health of the country," says Barnes.In the Indianapolis area, Visit Indy says more than 83,000 people rely on tourism for their jobs."This goes well beyond the glossiness of hotels and restaurants and wanting a getaway. There's real people, real Americans who are working and depending on tourism for a paycheck," says Gahl.The US Travel Association hopes Congress votes on the bill by early August. 2754