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The Dow tumbled more than 950 points at one point on Monday and global stocks were in disarray after China escalated the trade war with the United States.The Dow finished down 767 points for the day. The Chinese government devalued the yuan to fall below its 7-to-1 ratio with the US dollar for the first time in a decade Monday. A weaker currency could soften the blow the United States has dealt China with its tariffs.The weak yuan ignited fear on Wall Street that a currency war has begun or that the United States would respond with even higher tariffs, prolonging the standoff with China and potentially weakening the global economy. Investors are particularly concerned that the Trump administration could try to devalue the dollar, sparking a currency war that could weaken Americans' purchasing power."Risks of Trump intervening in foreign exchange markets have increased with China letting the yuan go," wrote Viraj Patel, FX and global macro strategist at Arkera, 987
The College Football Playoff picture is set.The top four teams in the playoff field are LSU, Ohio State, Clemson and Oklahoma, in that order, the selection committee announced Sunday.In the semifinals, LSU (13-0) will face Oklahoma (12-1) at the Chick-fil-A Peach Bowl at Mercedes-Benz Stadium in Atlanta, while Ohio State (13-0) will take on Clemson (13-0) at the PlayStation Fiesta Bowl at State Farm Stadium in Glendale, Arizona. Both of those games will be December 28.The national championship game is January 13 at the Mercedes-Benz Superdome in New Orleans.Before Sunday's reveal, the top four teams in the ranking had been Ohio State, LSU, Clemson and Georgia. Fifth through seventh were Utah, Oklahoma and Baylor, respectively.The landscape started shifting Friday night, when Utah lost to Oregon in the Pac-12 title game. Then on Saturday Oklahoma beat Baylor to win the Big 12 title. Later that day the Sooners got some 943
The Federal Reserve on Wednesday voted to raise interest rates despite new signs of economic softening and weeks of market volatility.Central bankers unanimously agreed under Chairman Jerome Powell to lift the federal funds rate, which controls the cost of mortgages, credit cards and other borrowing, to a range of 2.25% and 2.5%.Interest rates have increased seven times since President Donald Trump took office. Four of those increases have been under Powell.The policy decision comes even as Trump called on the Fed to move cautiously "before they make yet another mistake," shortly before policy makers began their two-day policy-setting meeting in Washington on Tuesday. 688
The hearts of Gilroy PD and entire community go out to the victims of today's shooting at the Garlic Festival. The scene is still active. If you are looking for a loved one, please go to the reunification center at Gavilan College at parking lot B. #GilroyActiveshooter— Gilroy Police (@GilroyPD) July 29, 2019 323
The House Judiciary Committee on Thursday is taking a major step forward to impeaching President Donald Trump as it works to approve 144
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