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The US stock market sank deeper into the red following sluggish economic reports on Monday and bad news from a couple of blue-chip giants.The Dow fell 600 points by late afternoon, or 2.6%. The S&P 500 lost 2.6% and retreated to its lowest level of the year. And the Nasdaq joined the Dow & S&P 500 in negative territory for 2018. All three indexes have plunged about 7% so far this December.The Dow closed down 507 points for the day.And the Russell 2000 index of small-cap stocks tumbled into a bear market, marking a 20% decline from the record highs notched in late August.A weaker reading from the New York Federal Reserve about manufacturing in the Empire State and a drop in confidence from the nation's homebuilders weighed on the markets."Investors are zeroing in on this idea of slower growth for 2019," said Michael Arone, chief investment strategist at State Street Global Advisors. "More people are worried about a recession in late 2019 or 2020."The political noise in Washington isn't helping either. President Trump, in a tweet Monday morning, repeated his criticism of the Federal Reserve for its recent rate hikes. The Fed meets Wednesday and is widely expected to raise rates again.But Trump tweeted that "it is incredible that with a very strong dollar and virtually no inflation, the outside world blowing up around us, Paris is burning and China way down, the Fed is even considering yet another interest rate hike. Take the Victory!"The Fed is supposed to be politically independent. Any evidence that it might be swayed by attacks from Trump could unnerve the markets."If the Fed doesn't raise rates it will look like it's succumbing to the bullying of Trump's tweets," Arone said.But Nancy Perez, managing director at Boston Private, said the Fed is likely to slow down its pace of rate hikes in 2019 simply because the economy is slowing, not because of pressure from Trump.Perez added that the recent market turmoil is justified because investors are readjusting to this fact."We have been getting a bump in profit margins due to lower taxes but the earnings growth itself is not sustainable," Perez said. "Projections will come down and volatility will continue." 2247
The UK has accused Syria and Russia of preventing independent chemical weapons experts from entering the city of Douma, hit by a suspected gas attack that Western leaders have blamed on the Syrian government.A fact-finding team from the Organization for the Prohibition of Chemical Weapons (OPCW) arrived in Syria on Saturday, the same day the US, UK and France carried out airstrikes against Syrian government targets in response to the April 7 attack in Douma.But by Monday, the team had still not been granted safe passage, according to the UK envoy to the OPCW, Peter Wilson. The US expressed concerns that Russia may have tampered with evidence at the site.The OPCW team is tasked with determining whether banned substances were used in the attack, a charge that both Syria and its most powerful ally, Russia, have vehemently denied.Syria's Deputy Foreign Minister Fayssal Mikdad said Monday his country was ready to facilitate the OPCW team in any way to carry out its mission, the state-run SANA news agency reported, while Kremlin spokesman Dmitry Peskov did not respond directly to CNN's question on whether Russia had blocked the experts. Peskov said only that Russia was against "groundless" accusations about who was responsible for the attack.Russian Deputy Foreign Minister Sergei Ryabkov said the OPCW team's arrival was hampered by the weekend air strikes, state media RIA Novosti reported.The suspected chemical attack is the latest issue to heighten tensions between Russia and Western powers. More than 100 Russian diplomats were expelled from more than 20 countries in March over the poisoning of a Russian ex-spy on British soil, which the UK and US has blamed on the Russian government. Russia denies the accusations.Russian officials last week claimed British intelligence agencies had helped stage the suspected chemical attack in Douma."Yet again, Russia is spreading conspiracy theories and misinformation designed to undermine the integrity of the OPCW's fact finding mission," Wilson said in a statement."A significant body of information, including intelligence, indicates the Syrian regime is responsible for this latest attack."The US envoy to the OPCW, Kenneth D. Ward, said he was concerned that Russia may have interfered with the site of the Douma attack."We are concerned they may have tampered with it with the intent of thwarting the efforts of the OPCW Fact Finding Mission to conduct an effective investigation. This raises serious questions about the ability of the (team) to do its job," he said in a statement Monday.Russian Foreign Minister Sergey Lavrov said last week his country had sent experts to the site and found "no trace" of chemical weapons use. On Monday, he told the BBC's Hardtalk show that he guaranteed there had been no Russian tampering.Around 75 people, including children, were killed in the Douma assault, UK officials have said, while 500 people were treated in the attack's aftermath with symptoms consistent with chemical weapons exposure, the World Health Organization reported, citing its partners on the ground.The OPCW has recorded more than 390 allegations of chemical weapons use in Syria since its investigation began in 2014, Wilson said. 3222
The U.S. reached another bleak milestone in the COVID-19 pandemic Wednesday, as Johns Hopkins University reports that 150,000 Americans have now died of the virus.By comparison, about 116,000 Americans died in World War I, according to Encyclopedia Britannica All recorded U.S. deaths have come in the span of just under six months.The U.S. continues to lead the world in deaths linked to the coronavirus. Brazil, with a death toll of about 88,000, is currently the only other country with more than 50,000 deaths.The U.S. currently has more than 4.3 million confirmed cases of the virus, also the most among all world nations.In recent days, the U.S. has seen daily confirmed cases drop slightly, following several consecutive days of near-record case increases. The spread of the virus in hotspots like Arizona, Florida and Texas appears to be slowing.However, Dr. Anthony Fauci — the nation's top expert on infectious diseases — says he is concerned that hotspots could begin moving to Midwest states. Cases are beginning to tick up in places like Missouri, Nebraska and Colorado. 1091
The two Los Angeles County Sheriff's Deputies who were shot in an ambush-style attack on Saturday are out of surgery and expected to survive their injuries, according to reports from ABC News, CNN and The Washington Post.Alex Villanueva, the LA County Sheriff, told CNN Sunday night that it looked like the two injured officers would be able to recover from their injuries, but the long-term impacts on their health are currenlty unknown."We'll see what the long-term impact is. We don't know that yet, but they survived the worst," Villanueva reportedly said during a community dialogue event, according to CNN.A suspect ambushed the two officers as they sat in a police car near a Compton metro station on Saturday night. Surveillance video posted by the department on Twitter shows a man walk up to the passenger side of the patrol car, raise a gun to the window and open fire. The deputies were able to radio for help as the suspect ran away.The two injured deputies, a 31-year-old woman and a mother and a 24-year-old man, were relative newcomers in the department, having been on the job for 14 months.According to ABC News, officials are offering a 0,000 reward for information that could lead to the suspect's arrest.Politicians widely condemned the shooting. On Sunday morning, President Donald Trump called for a "fast trial death penalty for the killer" if the deputies were to succumb to their injuries."Only way to stop this!" Trump added. 1463
The woman who became internet famous in October for flipping the bird at President Donald Trump's motorcade, and then said she was subsequently fired, is suing her former employer for unlawful termination.Juli Briskman was fired from the marketing team at Akima LLC in November shortly after she volunteered that she was the one who had made the gesture in a photo that went viral, she said at the time."I thought that it would probably get back to my company eventually," Briskman said in an interview with CNN's Jeanne Moos.She said she was told she had violated the company's social media policy, and said the company in turn fired her.Briskman tweeted Wednesday that "I was fired from my job for flipping off @realDonaldTrump. Today, I filed suit with @GellerLawyers & @protctdemocracy because what happened to me was unlawful and un-American."Her attorney, Maria Simon, reiterated this point in a statement through the nonprofit Protect Democracy,"Juli's expression of disapproval of the President is fundamental political speech protected by both the United States Constitution and Virginia state law," she said. "Akima's actions -- forcing Juli to resign out of fear of unlawful retaliation by the government -- violated the basic tenets of Virginia employment law. Ms. Briskman chose in her private time and in her capacity as a private citizen to express her disapproval of President Trump by extending her middle finger."CNN has reached out to Akima LLC seeking comment. 1512