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The stock market continued a September slide Monday, with the Dow Jones Industrial Average falling about 800 points at one point. The S&P 500 sank 1.2%, though a last-hour recovery helped it more than halve its loss from earlier in the day.The Dow Jones Industrial Average fell 509.72, or 1.8%, to 27,147.70 after coming back from an earlier 942 point slide. The Nasdaq composite slipped 14.48, or 0.1%, to 10,778.80 after recovering from a 2.5% drop.Monday’s downward movement was seen across many sectors, and market watchers point to multiple reasons.Multiple media outlets are reporting about documents indicating major banks around the world potentially ignored red flags and allowed millions to be transferred by questionable companies or individuals. Stock prices for banks, including JP Morgan Chase, fell on Monday. Many are worried about a spike in coronavirus cases and potential new “waves” of the virus; the United Kingdom announced they are seeing a sharp increase in cases.The recent death of Supreme Court Justice Ruth Bader Ginsburg and subsequent announcement a replacement could come soon means congress will be focused on hearings and the nomination process, and potentially not focused on any federal coronavirus relief aid, according to Marketplace.org.Without federal relief, economic experts have warned of a longer recovery. The Federal Reserve last week said the future of the U.S. economy remained uncertain.Over the weekend, China announced a new regulatory body that could blacklist foreign companies that put China’s national security at risk. NPR says this group could target U.S. tech companies operating in China, like Apple, Cisco, and others.Monday’s slide comes after a few weeks of stock market losses. September is historically the worst month for stocks, according to the Associated Press.“The market has been poised to just pull back, take a breather,” said Quincy Krosby, chief market strategist at Prudential Financial. “Raising capital is prudent during a month that is known statistically, historically for being difficult for the market.” 2095
The world's biggest COVID-19 vaccine test got underway Monday with the first of 30,000 planned volunteers. The experimental vaccine is made by the National Institutes of Health and Moderna Inc. It's one of several candidates in the final stretch of the global vaccine race. Officials are seeking to find out whether more people who get dummy shots become infected than those given two doses of the real vaccine. The U.S. government plans separate huge studies of several leading vaccine candidates through fall, each in hot spots where the virus still is spreading.Dr. Anthony Fauci and other Trump administration officials have said that the company is already producing millions of doses of the vaccine in the event that it receives Emergency Use Authorization from the FDA following the trial. Fauci remains cautiously optimistic that a vaccine could be available by January of next year — though it's unclear how long it would take for a vaccine to be available for all Americans who want it. 1004
The Time Warner building in New York City, where CNN has a studio, is one of several places to receive a potentially explosive device this week. It is being investigated as an act of terrorism.The package was located in the building's mailroom, CNN reported on air today. Employees said authorities told them it looked like a pipe bomb and had wires attached.Police believe it is a very serious incident and a real explosive that was delivered. The Time Warner building's other businesses were evacuated and folks moved farther away from the location at what is a busy time of day in metro New York City. 617
The United Kingdom says it will be the first to conduct COVID-19 vaccine human challenge trials.It's different than other vaccine studies. People will be deliberately infected with the virus, which speeds up the research process.Pending approval, the process will start in January at a London hospital. It will require about 90 healthy young adults between the ages of 18 and 30.The group 1 Day Sooner has recruited from all over the world, including 3,000 Britons.“If the vaccine works, then ideally, people don't get infected and if people do, then they will be closely monitored and treated, but because these are young and healthy people taking part in the trial, I think, researchers feel comfortable doing so because the risks of death are on par with something like kidney donation for people who are young and healthy,” said Abie Rohrig with 1 Day Sooner.Before researchers test the vaccine, they'll do a characterization study. That's where volunteers are infected by getting a vaccine to determine the right amount of virus to give during the trial.Because of the risk, 1 Day Sooner is advocating for the entire process to be made public.Results could come in May. Even though that's likely after other COVID-19 vaccines are licensed, it's still important because we need billions of doses and because of the unique data human challenge trials provide.“Researchers can understand how the virus works in the human body. They can understand the biological markers of immunity. In fact, much of our understanding of other types of coronaviruses come from challenge studies that were conducted in the 1960s in Britain,” said Rohrig.Human challenge volunteers are paid and monitored for at least a year after. 1722
The U.S. has carried out the first federal execution in nearly two decades, putting to death a man who was convicted of killing an Arkansas family in the 1990s in a plot to build a whites-only nation in the Pacific Northwest. Forty-seven-year-old Daniel Lewis Lee, of Yukon, Oklahoma, died Tuesday after receiving a lethal injection at the federal prison in Terre Haute, Indiana. Lee said before his execution that he was innocent. “I didn’t do it,” Lee said just before he was executed. “I’ve made a lot of mistakes in my life, but I’m not a murderer. ... You’re killing an innocent man.” 597