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The jittery stock market is once again heading south.The Dow dropped 327 points, or 1.3%, on Thursday, with selling accelerating after Treasury Secretary Steven Mnuchin backed out of a conferencein Saudi Arabia. The index had been down 471 points at one point.Tech stocks fell sharply, sending the Nasdaq tumbling 2.1%. Netflix declined 5%, while Facebook and Amazon lost about 3% apiece.Stock market volatility is back on Wall Street. Fears about rising bond yields and the US-China trade war sparked heavy selling last week, the worst for all three major indexes since March. Stocks rebounded sharply on Tuesday, before another wobbly session on Wednesday. The CNN Business Fear & Greed Index of market sentiment is flashing "extreme fear."The market slide gathered steam on Thursday after Mnuchin announced on Twitter that he will not participate in the Saudi summit. Mnuchin said it was a joint decision with President Donald Trump and Secretary of State Mike Pompeo. An administration official told CNN that no other government officials will attend the event in Mnuchin's place.The news adds to rising global uncertainties, including concerns about Italy's budget and a plunge in China's stock market.David Kotok, chief investment of Cumberland Advisers, said he believes Thursday's market slide was driven more by concerns about Italy and China."But Mnuchin doesn't help things," said Kotok.Mnuchin's announcement points to elevated tensions between the United States and Saudi Arabia over the disappearance of Washington Post journalist Jamal Khashoggi.Saudi Arabia has threatened to retaliate against potential US sanctions. The kingdom is the world's largest oil exporter, giving it great sway over global energy prices. US oil prices briefly bounced on the Mnuchin news but closed lower on the day.Saudi Arabia has also played a huge role financing the rise of Silicon Valley, serving as the tech industry's unofficial banker.But the market has also been pressured by other international developments. Even before Mnuchin's tweet, analysts pointed out that Italian bond yields spiked due to concerns about Italy's budget proposal. The European Union plans to send a formal warning letter to Rome to signal displeasure over plans to increase Italy's budget deficit, Reuters reported.Chinese markets were also under pressure. The Shanghai Composite plunged nearly 3% overnight, falling deeper into a bear market as the US-China trade war continues to linger.US investors continue to move money out of the riskiest parts of the market and into defensive areas. While tech stocks fell sharply, defensive areas such as utilities and telecom rose slightly."There is a rotation away from the tech and momentum names," Kotok said. "One has to ask: Has FANG been defanged?" 2868

The NAACP has filed a lawsuit against Postmaster General Louis DeJoy, claiming that he is attempting to "disenfranchise voters of color" amid the coronavirus pandemic.The lawsuit, filed Thursday in Washington, D.C. District Court, asks the court to declare DeJoy's recent operational changes as "invalid" and against the law as well prevent DeJoy from implementing further policy changes that were announced on July 10."As the country faces an uphill battle against COVID-19 and systemic racism, we're witnessing a significant onslaught against our postal system at a time when prompt mail delivery matters more than ever, especially for voters of color," Derrick Johnson, the President and CEO of the NAACP, said in a statement. "This willful and blatant attempt to obstruct the mail system amidst a pandemic and on the precipice of a pivotal election is a direct threat to the people of this nation's right to vote in a fair and free election."On Tuesday, DeJoy said in a statement that the USPS would pause the implementation of the proposed operational changes until after the November election. However, it's unclear if the agency would restore any mail sorting equipment that had been taken offline between the July 10 policy changes and Tuesday's statement.President Donald Trump has been staunchly opposed to universal mail-in voting, claiming that such policies would result in widespread voter fraud despite ample evidence to the contrary. Earlier this month, Trump said that he was hesitant to approve more funding for the USPS in order to curb the expansion of mail-in voting. 1596

The mother whose 1-year-old son was forcefully yanked away by New York Police Department officers last week had her charges dropped and was ordered released on her own recognizance, defense attorneys said.Jazmine Headley, 23, had been arrested Friday at a Brooklyn social services office and faced four charges, including resisting arrest and acting in a manner injurious to a child. Brooklyn District Attorney Eric Gonzalez moved to dismiss the charges on Tuesday."Like everyone who watched the arrest of Jazmine Headley, I was horrified by the violence depicted in the video and immediately opened an investigation into this case," Gonzalez said, adding that the incident should have been handled differently."Continuing to pursue this case will not serve any purpose and I therefore moved today to dismiss it immediately in the interest of justice," he said.Disturbing video of the arrest, in which Headley's son is ripped away by arresting NYPD officers, has sparked sharp criticism from city officials and unfavorable comparisons to Border Patrol actions during the Trump Administration's family separation policy at the US-Mexico border.Headley has been in jail in Riker's Island since Friday, held on an outstanding arrest warrant from July 2017 for failure to appear in connection with credit card fraud, said the sheriff's office in Mercer County, New Jersey.A judge on Tuesday afternoon ordered her release, according to Lisa Schreibersdorf, the executive director of Brooklyn Defender Services who is representing Headley."We ask that her privacy is respected at this time, as she has been through a traumatizing ordeal and has not seen her family in five days," Schreibersdorf said.The decision comes a day after the NYPD said the incident was "troubling" and that they would be reviewing the incident. No NYPD officers have had a duty status change since the incident, an NYPD spokesperson said. Two Human Resources Administration officers involved in the incident are on leave and will be placed on modified duty when they return to work pending an investigation.The Patrolmen's Benevolent Association, the union representing NYPD officers, said the officers were put in an impossible situation."The event would have unfolded much differently if those at the scene had simply complied with the officers' lawful orders," PBA President Patrick J. Lynch said. "The immediate rush to condemn these officers leaves their fellow cops wondering: when confronted with a similar impossible scenario, what do you want us to do? The answer cannot be 'do nothing.'" 2605

The man suspected in the shooting death of a Hopkinsville police officer has been shot and killed by police.The Montgomery County Sheriff's Office says they were involved in the shooting of James Decoursey near the Cracker Barrel in Clarksville.Shortly after Decoursey initiated the fake traffic stop, he allegedly shot and killed the officer.No other sheriff's deputies were hurt 398

The Los Angeles Chargers are facing backlash on social media after tweeting out a photo.The tweet read in part, “It's #SaluteToService week and we want to see how members of the military #RepTheBolts!” 209