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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 cost of living in rural America tends to be less expensive than rent in big cities, but even in a rural town like Stroudsburg, Pennsylvania, many working Americans are struggling to get by.Data from the United Way show 64 percent of households in Stroudsburg are below poverty line or make less than needed to afford basic living expenses.“I am a single mom of three children, ranging from 22-12,” said Shelly McCarthy. “I work from the time I get up at six in the morning until four at night.”For the last four years, McCarthy has worked up to four jobs at the same time.“From waitressing, doing visiting nursing, and also working with developmental adults,” McCarthy explained. “I miss out on a lot of my 12-year old’s activities at school.”Despite all the hours worked, McCarthy has had months where she couldn’t make the mortgage or had funds for much-needed repairs to her home. As for being able to afford healthier food for the family? That’s out of reach.“My daughter has a thyroid disease. So, I miss out on cooking healthy meals for her, because I had to cut down,” said McCarthy. “I couldn’t afford healthy food. I couldn’t afford Mediterranean fish.”“What is happening in America is that the cost of living is outstripping the wages,” said Sarah Jacobi, with Pocono Mountains United Way. “We are seeing over the last 10 years wages increased by 20 percent, but the cost-of-living increased up to 36 percent for a family of four, so people are just falling farther and farther behind.”The United Way has created a data project known as the A.L.I.C.E., which measures the number of people in America who are Asset Limited Income Constrained Employed. It’s essentially the number of people who make above the federal poverty line but less than what they need to afford basic living expenses. “Two out of every five American people today are AIICE,” said Jacobi. “This truly is the American experience that people are living every day.”However, according to the United Way’s data, it doesn’t have to be.“The ALICE report not only does give us that data, to understand where is ALICE and what is their struggle,” said Jacobi. “But it helps us [to] have insight into what are the cost people are truly facing and how we could craft everything from public policy position to help improve lives of people to how we can create programs boots on the ground able to help people.”People like McCarthy are hopeful help will come, either from an economic boost that affects more working-class Americans or public policy that focuses on giving people like her a chance to get ahead. 2595

The deadly heat wave that has blanketed much of the US is in its final day.A cold front moving through the Midwest will reach the East Coast by Monday, bringing heavy rain and cooler air, according to CNN Meteorologist Ivan Cabrera.The front will quiet days of extreme temperatures, Cabrera said.This week's high temperatures prompted cities across the US to open cooling centers, issue safety instructions to residents and cancel many outdoor events. New York's mayor declared an emergency. One death has been attributed to the high temperatures: Former NFL player Mitch Petrus, 32, died of a heat stroke after working outside Thursday during a heat advisory in Arkansas, officials said.Part of the relief comes from the dropping of overnight temperatures in the Midwest, which had often hovered near 80 degrees in the past week.While temperatures on the East Coast and Midwest may sink down to the 70s on Monday, Sunday still has some heat in store.Sunday severe weatherAlthough down from Saturday's 157 million, there are still more than 95 million people under a heat warning or advisory for Sunday.The heat index has much of the Midwest feeling as if it's in the 90s, while the East Coast faces triple digits -- with Washington, D.C., at the highest with 110.And although the more central states are being cooled a bit by the moving front, at least 350,000 people are without power across Michigan due to severe weather, according to 1451
The Office of Personnel Management directed federal agencies to hold off on issuing expected pay raises for a number of senior government officials, including Vice President Mike Pence and Cabinet members, in a memo Friday evening.Dozens of high-ranking officials were supposed to see an increase in their salary, while hundreds of thousands of federal employees and government contractors are unsure when they will see their next paychecks amid the partial government shutdown.Last month, Congress failed to extend the pay freeze on the raises, which would have ended effectively on Saturday and let the increases kick in.But the OPM "believes it would be prudent for agencies to continue to pay these senior political officials at the frozen rate until appropriations legislation is enacted that would clarify the status of the freeze," Margaret Weichert, the acting director of the Office of Personnel Management, wrote in the memo.OPM plans to issue new guidance once Congress passes updated legislation, Weichert said in the memo.OPM's move comes after Trump 1076
Texas authorities say a search for a suspect continues after two people were killed and five others were injured following a shooting during a concert inside a San Antonio club. Police say officers were called shortly after 8 p.m. Sunday to the Ventura, a music venue located along San Antonio's Museum Reach portion of the River Walk. San Antonio Police Chief William McManus tells KENS-TV that an argument led to the shooting of several patrons. One victim died at the scene, and another six were transported to a hospital, where one was pronounced dead shortly after arrival. 590
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