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The stomach-churning market scare continues.The Dow tumbled 546 points, or 2.1%, on Thursday following another rollercoaster session. The index briefly turned positive during morning trading before succumbing to heavy selling pressure. At one point the Dow was down 699 points. The Dow has shed 1,378 points over the past two days.The mood on Wall Street was only slightly calmer than Wednesday's 832-point nosedive.The S&P 500 closed down 2.1%, notching its sixth-straight losing session. It's the longest slump for the broad index since just prior to President Donald Trump's election more than two years ago.The Nasdaq briefly tumbled into a correction, signaling a 10% decline from previous highs. But the index climbed out of correction territory and closed down 1.3%.All three major indexes have lost more than 5% this week. That hasn't happened since March."This kind of washout doesn't get accomplished in a day. Even though yesterday felt traumatic, it tends to be a three-day process," said Art Hogan, chief market strategist at B. Riley FBR.The VIX volatility index touched its highest level since February.One positive is that unlike on Wednesday, the market did not close on the lows of the day. The rebound was helped by fresh?reports that President Donald Trump and Chinese leader Xi Jinping have agreed to meet next month at the G-20 summit. Such a meeting could ease fears that the US-China trade war will hurt corporate profits and slow the US economy.Tech stocks have come under fire because they are some of the riskiest and most expensive parts of the market. Investors fear how these momentum names will hold up in a downturn, particularly as interest rates spike. A proxy for the tech sector had its sharpest plunge in seven years on Wednesday."Halloween started early this month for investors," Ed Yardeni, president of investment advisory firm Yardeni Research, wrote to clients.The afternoon sell-off comes even though a new report showed that consumer prices rose less than expected in September.Stocks have turned sharply south in large part because investors are 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. 2551

The U.S. will pay drug company Pfizer .95 billion to produce and deliver 100 million doses of the company's COVID-19 vaccine candidate should the drug prove effective in human trials the company said in a press release on Wednesday.Pfizer will deliver the vaccine if and when the drug receives Emergency Use Authorization from the FDA after a large-scale Phase 3 trial.According to the reports, the deal includes an option for the government to purchase an additional 500 million doses of the vaccine.“Expanding Operation Warp Speed’s diverse portfolio by adding a vaccine from Pfizer and BioNTech increases the odds that we will have a safe, effective vaccine as soon as the end of this year,” Health and Human Services Sec. Alex Azar said in a statement. “Depending on success in clinical trials, today’s agreement will enable the delivery of approximately 100 million doses of this vaccine to the American people.”Pfizer and German firm BioNTech are working together to develop the vaccine.On Monday, Pfizer said in a press release that results from Phases 1 and 2 of a German trial indicated that the drug "could potentially be administered safely, with a manageable tolerability profile," according to data from the tests.Biotech company Moderna is also working to develop a coronavirus vaccine. That candidate will move into Phase 3 testing by the end of the month, and the government has also agreed to purchase and distribute the drug should the large-scale test prove effective. 1497

The travel industry has taken a major hit during the COVID-19 pandemic. From hotels to airlines, the industry saw a massive dip in business as people started canceling their upcoming trips. Instead, it appears people are taking their summer vacations outdoors."We had a lot of cancelations early on so starting in March, April and May we're heavily affected by cancelations but now that states are opening back up and travel’s resuming, our bookings are outpacing our cancelation seven fold," says Toby O'Rourke, the CEO of Kampgrounds of America. O'Rourke says campsite bookings and RV rentals are soaring.KOA conducted their own research and found that one-third of non-campers are considering camping as their summer travel activity. With contact-less bookings and a taste of the outdoors, she says many are finding camping a safer vacation option."We've been having a lot of activity on our campgrounds. There’s a lot of pent-up demand. We’re seeing June really take off which we’re excited to see heading into the summer months," says O'Rourke.O'Rourke adds that a majority of states have opened up their parks and campgrounds. In April, she says there was a magic date when people started booking campgrounds like crazy. Outdoorsy.com, a site that connects RV owners with people who want to rent them, says they've seen a 2,600% growth in their business since the COVID-19 pandemic began."Just last month alone, we saw over 2.5 million new visits or new users to the site Outdoorsy.com which is pretty significant. We’re breaking records all over the place in terms of bookings, growth. We had our best booking day on record last week that was up 300% year over year for just that day," says Jennifer Young, co-founder of Outdoorsy.com.Outdoorsy says recreational vehicles allow people to control their own environments."It's a standalone vehicle that you control where you buy your food, where it goes, how it stays in your refrigerator. Same with your bathrooms. So you’re cleaning and washing and showering - it's all self-contained in where you want to stay. You pick your location and destination," says Young.Plus both Outdoorsy and KOA have developed new safety guidance for campgrounds and RV renters amid COVID-19 which include proper sanitation, personal protective equipment and more."I definitely think once somebody rents an outdoorsy vehicle or camper van I’m pretty sure they’ll be hooked," says Young.KOA's O'Rourke advises people to first check camping websites and book ahead whenever possible. Helping people social distance while still leaving their house for a vacation. 2605

The White House defended President Donald Trump's Sunday tweet that included a video of his supporters yelling the phrase "white power" at protesters at a Florida retirement community.On Sunday morning, President Donald Trump retweeted a video that was reportedly taken at The Villages, a large retirement community in central Florida. At one point in the video, a man in a golf cart adorned with Trump flags yells "white power" at anti-Trump demonstrators.The protesters can also be heard in the video shouting profanities at Trump supporters and also calling Trump a "Nazi" and "racist."Trump included a message in his retweet of the video, writing, "Thank you to the great people of The Villages." The tweet was live for more than three hours before it was deleted from his feed.Though the tweet was deleted, it sparked condemnations from some members of his own party. Sen. Tim Scott, R-South Carolina, called Trump's endorsement of the video "indefensible."In a statement on Sunday evening, White House spokesperson, Judd Deere defended the president's actions, saying that he "didn't hear" the racist language used in the video."President Trump is a big fan of The Villages. He did not hear the one statement made on the video. What he did see was tremendous enthusiasm from his many supporters," Deere said, according to CNN and The Associated Press. 1365

The travel industry has taken a major hit during the COVID-19 pandemic. From hotels to airlines, the industry saw a massive dip in business as people started canceling their upcoming trips. Instead, it appears people are taking their summer vacations outdoors."We had a lot of cancelations early on so starting in March, April and May we're heavily affected by cancelations but now that states are opening back up and travel’s resuming, our bookings are outpacing our cancelation seven fold," says Toby O'Rourke, the CEO of Kampgrounds of America. O'Rourke says campsite bookings and RV rentals are soaring.KOA conducted their own research and found that one-third of non-campers are considering camping as their summer travel activity. With contact-less bookings and a taste of the outdoors, she says many are finding camping a safer vacation option."We've been having a lot of activity on our campgrounds. There’s a lot of pent-up demand. We’re seeing June really take off which we’re excited to see heading into the summer months," says O'Rourke.O'Rourke adds that a majority of states have opened up their parks and campgrounds. In April, she says there was a magic date when people started booking campgrounds like crazy. Outdoorsy.com, a site that connects RV owners with people who want to rent them, says they've seen a 2,600% growth in their business since the COVID-19 pandemic began."Just last month alone, we saw over 2.5 million new visits or new users to the site Outdoorsy.com which is pretty significant. We’re breaking records all over the place in terms of bookings, growth. We had our best booking day on record last week that was up 300% year over year for just that day," says Jennifer Young, co-founder of Outdoorsy.com.Outdoorsy says recreational vehicles allow people to control their own environments."It's a standalone vehicle that you control where you buy your food, where it goes, how it stays in your refrigerator. Same with your bathrooms. So you’re cleaning and washing and showering - it's all self-contained in where you want to stay. You pick your location and destination," says Young.Plus both Outdoorsy and KOA have developed new safety guidance for campgrounds and RV renters amid COVID-19 which include proper sanitation, personal protective equipment and more."I definitely think once somebody rents an outdoorsy vehicle or camper van I’m pretty sure they’ll be hooked," says Young.KOA's O'Rourke advises people to first check camping websites and book ahead whenever possible. Helping people social distance while still leaving their house for a vacation. 2605