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That was fast. Wall Street's enthusiasm for the US-China trade truce has completely vanished.The Dow Jones sunk nearly 800 points on Tuesday, nearly a three percent drop.The S&P 500 declined 2.5%, while the Nasdaq tumbled 3%.Big tech stocks fell sharply. Apple (AAPL), Amazon (AMZN) and Alphabet (GOOGL) lost more than 3% apiece.The selloff wipes out Monday's 288-point jump on the Dow. That rally had been fueled by relief over the ceasefire between the United States and China on the trade front.But investors are quickly realizing that the US-China trade war is not over. The tariffs already put in place remain. And new tariffs could be implemented if the two sides fail to make progress."People are still very concerned about the trade war," said Dan Suzuki, portfolio strategist at Richard Bernstein Advisors. "Financial markets are increasingly showing signs of fear of a recession."President Donald Trump did not help Wall Street's trade war worries on Tuesday. Trump said that he would "happily" sign a fair deal with China but also left open the possibility that the talks will fail."President Xi and I want this deal to happen, and it probably will," Trump tweeted. "But if not remember... I am a Tariff Man."Those words aren't likely to bolster confidence among investors already worried about the negative consequences of the trade war. Steel and aluminum tariffs have lifted raw material costs and caused disarray in supply chains. And uncertainty about trade policy makes it very difficult for companies to make investment decisions.Investors have also grown very worried in recent days about fluctuations in the bond market. The gap between short and long-term Treasury rates has narrowed significantly this week. Before almost every recession, the yield curve has inverted, meaning short-term rates are higher than long-term ones.The gap between the 10-year and two-year Treasury yields dropped on Tuesday to the smallest since just before the Great Recession. And the less closely watched gap between three and five-year Treasury yields inverted on Monday.The tightening yield curve reflects fears about a growth slowdown and concerns about whether the Federal Reserve is raising interest rates more quickly than the economy can handle. Fed chief Jerome Powell gave a speech last week that investors interpreted as signaling the central bank could slow its rate hikes. However, there is a debate over whether Powell really was telegraphing a sudden change.Barry Bannister, head of institutional equity strategy at Stifel, predicts the Fed will pause its rate hikes because it has already made monetary policy too tight. He pointed to the slowdown in the housing market caused by higher mortgage rates."It's playing with fire to be too tight and risk an inversion because you don't know what the outcome will be," Bannister told reporters on Tuesday. "Even if the Fed pauses, they may have already done too much."A flattening yield curve and slowing economic growth hurt the profitability of banks.The financial sector was the second-worst performer in the S&P 500 on Tuesday. Bank of America (BAC), Morgan Stanley (MS) Citigroup (C) and Wells Fargo (WFC) declined more than 4% apiece.But Suzuki cautioned that the markets could be overreacting. He pointed to strong corporate profits and the fact that the yield curve has not yet inverted."We don't see signs of an impending recession," Suzuki said. "There is a widening gap between market fear of a deterioration in the fundamentals and the actual fundamentals themselves." 3558

The 2020 American Music Awards will take place on Sunday, Nov. 22, and will air on ABC at 8 p.m. ET.Ciara hosted last year's ceremonies and Taylor Swift walked away with five awards, including Artist of the Decade.Swift now has the most AMA awards by any artist ever.The “2020 American Music Awards” will be produced by Dick Clark Productions. 351

SYLMAR, LOS ANGELES (KGTV) -- Crews are battling a rapidly-spreading brush fire in northern Los Angeles County late Thursday night amid a statewide Red Flag Warnings.News station ABC7 is reporting that the 15-acre blaze, named Saddleridge Fire, is burning near homes and power lines.The fire erupted around 10 p.m. near the westbound 210 Freeway near Yarnell Street, according to the Los Angeles Fire Department.Flames stopped traffic along the 210 when the fire jumped from the westbound side to the eastbound side. Motorists are advised to avoid the area.Firefighters are facing strong Santa Ana winds which fueled several fires up and down California on Thursday.The Los Angeles Fire Department announced evacuations in the city of Sylmar."There are currently evacuations underway being directed by firefighters in the neighborhood affected," fire officials said.DEVELOPING: This story will be updated as more information becomes available.Firefighters battling multi-acre fire in #Sylmar. Multiple structures are threatened and evacuations underway near Saddle Ridge Road. https://t.co/HEXBHBXFIg— ABC7 Eyewitness News (@ABC7) October 11, 2019 1156

The battle over the sale of the Confederate flag at the Lorain County Fair reached yet another peak after a vandal posted a Confederate flag on a billboard protesting its sale.The billboard is one of three purchased by the Fair Minded Coalition of Lorain County which urges residents to "say no" to the sale of the Confederate flag at the fair. Coalition member Jeanine Donaldson said she believes someone posting the flag on a coalition billboard is further proof of how it divides a community."To my family and other African-Americans it symbolizes hate, torture and terror," Donaldson said. "It's a right and wrong situation in the year 2018.""No less than Governor John Kasich was the one who recommended that the flag come down for the state fair, and he did it because it was the right thing to do," she saidLorain City Councilman Angel Arroyo said the Lorain County Fair Board needs to finally ban the sale of the Confederate flag because it doesn't represent Ohio or his community."It's a sign of ignorance and hatred of people in our community," Arroyo said."It's frustrating putting this flag on the billboard.  It's a sign of disrespect and truly shows the true colors of racism and hatred."But Lorain County Fair Board President Kim Meyers says the Confederate flag has been sold at the fair for 30 years. Currently, it's being sold by one vendor who is selling the flag as part of a wide variety of Civil War memorabilia.Meyers said to restrict the sale of the flag would be a violation of First Amendment rights."Here at the fair, probably 99 percent of the feedback that we received has been in favor of the fair allowing for the sale," Meyers said."The Ohio Fair Managers conference back in 2016 voted unanimously, there were 88 counties and seven independent fairs, that voted to allow the sale of that."Still, Donaldson said her group will continue to protest, and said more efforts to stop the sale of the Confederate flag at the fair will be unveiled in the coming months."We're not going away," Donaldson said."This is not about politics, it's just the right thing to do."    2159

Texas students will return to public schools in person this fall, Gov. Greg Abbott told state lawmakers Thursday morning.The state's top education officials confirmed the plans in a statement to The Texas Tribune."It will be safe for Texas public school students, teachers, and staff to return to school campuses for in-person instruction this fall. But there will also be flexibility for families with health concerns so that their children can be educated remotely if the parent so chooses," said Texas Education Commissioner Mike Morath.When students return, school districts will not be required to mandate students to wear masks or test them for COVID-19 symptoms, said Frank Ward, a spokesperson for the Texas Education Agency.The TEA is expected to release additional guidance for school districts next Tuesday. Abbott has long said his intention is for students to return in-person this fall, saying this week that there will "definitely be higher safety standards in place than when they opened last year.""I will tell you that my goal is to see students back in classrooms in seats interacting personally with teachers as well as other students," he told KLBK TV in Lubbock on Monday. "This is a very important environmental setting for both the students, for the teachers and for the parents.”Abbott has pressed forward with reopening businesses and other public spaces for weeks, even as the number of new cases and people hospitalized with the virus has continued to rise. Democrats and officials in some of the state's biggest cities have raised alarm about the pace, saying it's putting people's health at risk."Abbott’s failed leadership has cost lives and has led to Texas becoming one of the most dangerous states to live in during this pandemic," said Texas Democratic Party Communications Director Abhi Rahman in a statement Thursday.According to state lawmakers on the 11 a.m. call, school districts will be able to also offer instructional alternatives for students. The decision comes as COVID-19 cases and hospitalizations continue to rise statewide, and local officials begin to put firmer restrictions in place to tamp down the spread in their cities and counties.National surveys have shown many parents do not feel safe sending their students back to the classrooms, with one poll showing two-thirds in support of keeping schools closed until the pandemic's health risk has passed.School districts' surveys of parents are showing that many students will stay home, even when the classrooms are open. That could pose a financial risk to districts, which receive state funding based on student attendance. Already, many districts are planning for hybrid programs, with some students learning virtually and some learning in person, allowing them to keep class sizes small.This year, Texas used federal stimulus dollars to fund school districts through this year's mandated school closures, as long as they offered some type of remote education. But state officials have not yet said whether they will continue to fund them for students who do not show up in person in the fall.With budget deadlines approaching at the end of the month, some districts are making tentative plans without clear state guidance. Fort Bend Independent School District announced earlier this week that its elementary and middle school students will return to their classrooms with adjusted schedules in the fall.District officials are working to develop a plan for older students that combines virtual classes and classroom instruction. Online instruction will be an option for any student who doesn't feel safe returning to the classroom in mid-August.KXXV's Aliyya Swaby and Cassandra Pollock first reported this story. 3731