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The Dow Jones Industrial Average sank more than 900 points on Wednesday , mirroring drops in European markets.The Dow Jones had its worst day since June 11. U.S. stocks recorded historic losses in February and March, fueled by shutdown measures to prevent the spread of COVID-19. However, since the shutdowns, U.S. markets have recovered to nearly the levels that were at prior to the pandemic.Despite stock recoveries, other important economic measuring sticks like unemployment remain historically high.Recent losses come as COVID-19 cases spike again across the country. Health experts warn that the U.S. is at a perilous point in the pandemic with rising hospital and death rates ahead of winter months. 715

The Defense Department has temporarily grounded all of its 245 F-35 fighter jets for inspection of a potentially faulty engine part in the wake of last month's crash in South Carolina.Initial data from the ongoing investigation into the September 28 crash indicates a fuel tube may have been faulty. In response, all US military F-35s will be inspected as well as F-35s operated by US allies."If suspect fuel tubes are installed, the part will be removed and replaced. If known good fuel tubes are already installed, then those aircraft will be returned to flight status," the Defense Department said in a statement.Inspections are expected to be completed within the next two days, the statement said, and a defense official told CNN some aircraft have already been returned to flight status.The initial assessment is the faulty tube may be on older models of the aircraft, but all are being inspected. 911

The digital news company Mic has laid off most of its staff, a spokesperson for the company confirmed.The layoffs were first reported Thursday by Recode. It is not yet clear exactly how many employees were affected. Mic declined to comment beyond confirming the Recode report.The company was founded in 2011, and for the past several years has branded itself as a news website geared toward millennials.Mic Publisher Cory Haik also resigned Thursday. In a note to staff that was obtained by CNN Business, Haik called journalism a "tough business.""Our business models are unsettled, and the macro forces at play are all going through their own states of unrest," she wrote. "If anyone tells you they have it figured out, a special plan to save us all, or that it's all due to a singular fault, know that is categorically false. Like the truth, it is indeed complicated."Mic was once a digital media darling, attracting around million in funding from investors. Its biggest backers included Lightspeed Venture Partners, Clark Jermoluk Founders Fund, WPP and WarnerMedia. (WarnerMedia owns CNN.)The company's staff swelled to more than 100 people by early 2016, according to The New York Times, which asked in an article published at the time: "What happens when millennials run the workplace?"But the climate is a tough one for digital media publishers right now. Ad revenue alone hasn't been enough to support these businesses, and Google and Facebook have substantial control over the ad market.Refinery29, HuffPost and Vocativ have all cut staff in the past year. So have CNN Digital, Vice and BuzzFeed.Mic laid off 25 employees in August 2017 as part of a pivot to video. Co-founder and CEO Chris Altchek told staff at the time that the shift was needed because "visual journalism already makes up 75% of the time that our audience spends" with the site.There were signs this year that the environment wasn't improving for Mic. Digiday reported in April that traffic to Mic's website had been plunging.The article also noted that Mic was very reliant on Facebook, citing statistics that showed views on the social media site fell to 11 million views in March compared to 192 million about a year earlier.Still, company executives pushed back on some reports that characterized the situation at Mic as particularly dire. When the Columbia Journalism Review reported in September that the company's board discussed a possible shutdown, Altchek called the report "categorically false."Emily Singer, a senior political reporter at Mic, tweeted Thursday that she was leaving the company."I'm so proud of what we've accomplished here," Singer wrote.Kerry Lauerman, Mic's executive news director, tweeted about the "gutting experience" Thursday."But only love for the extremely resilient and open-hearted team of Mic editors, producers, writers and shooters I had the great honor of working with," he added. "They performed brilliantly often under a cloud of uncertainty."Reached by phone, Lauerman declined to comment further, saying only that the team was packing up all of their things.Several other employees also tweeted news of their departures."I have so much to say, but most importantly the time I spent at @mic was the best of my career," wrote Managing Editor Colleen Curry. "I learned so, so much from brilliant people dedicated to keeping journalism alive."Mic is also in talks to sell at least part of the company to Bustle Digital Group, Recode reported Wednesday. A source with knowledge of the potential deal confirmed that report to CNN Business. 3572

The Department of Labor reported Thursday that 1.5 million Americans filed initial claims for unemployment during the week ending June 6, bringing a three-month total to about 43 million.Thursday's report marked the tenth straight week of declining unemployment numbers, as every state has begun the process of lifting coronavirus-related lockdowns.The report also comes a week after the U.S. Bureau of Labor Statistics said the U.S. unemployment rate actually fell a full percentage point — an encouraging sign for the economy.But despite last week's report, weekly unemployment claims remain historically high.Prior to the pandemic, the record high for weekly unemployment claims came in 2006, when 665,000 people filed for unemployment. The Department of Labor has been tracking the statistics since 1967.Economists often use weekly unemployment claims as a reliable tool when predicting unemployment. However, some surveys indicate that weekly initial claims may be underestimating the amount of those unemployed.At least one survey from the Economic Policy Institute found that millions of Americans gave up trying to seek benefits or didn't even attempt to due to states' overwhelmed and antiquated unemployment systems.Despite the staggering unemployment figures, the stock market has been on a steady rise since reaching a four-year low in March. Markets have been buoyed by stimulus from both the Federal Reserve and Congress, as well as encouraging reports from health experts regarding the potential development of a COVID-19 vaccine. 1553

The fossil of a large egg dating from the time of the dinosaurs has been found for the first time on the continent of Antarctica. In addition to its large size and unique location, this discovery is also challenging how scientists think about marine births millions of years ago.The details of the egg and its discovery were published this week in the journal Nature.The egg, measuring 11 inches long and 7 inches wide, was found back in 2011 by Chilean scientists, and sat in Chile’s National Museum of Natural History, labeled only as “The Thing.” David Rubilar-Rogers was one of the scientists who discovered the fossil and works at the museum. He reportedly showed it to every geologist who visited the museum, hoping someone could identify it. Julia Clark from the University of Texas at Austin visited in 2018.“I showed it to her and, after a few minutes, Julia told me it could be a deflated egg!” Rubilar-Rogers said. 933