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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 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
The RV industry, like every other sector of the travel industry, took a hit in business at the start of the coronavirus pandemic.“April was down about 30 to 35%,” said Jim Bracking.Bracking is the manager of the Loveland RV Resort in Colorado.“For every reservation we were gettingm we were getting a couple of cancellations,” Bracking added.However, about a month after a slew of cancellations came in, things have started to pick up significantly.“Reservations are up quite a bit,” said Bracking. “If you have been in the office, you could see the reservation clerks are very busy.”Vacationers started rebooking road trips as soon as Colorado and other states started to reopen.“You just got to get some form of normalcy back and yet be safe. This is one of the only ways we know how to do it,” said Suzie Limppo, who is vacationing in an RV at Loveland RV Resort.RV resorts, RV parks, and RV rentals are seeing a bounce back across the country.“We are now up over 1,000 percent from where we were in April,” said Jon Gray with RVshare.RVshare rents RV to vacationers and it’s just one RV rental company that has seen dramatic increases in rentals.“There is a premium on keeping your distance. There’s a premium on driving to where you want to go instead of flying, because people are afraid to get on airplanes right now,” said Gray. “So, we thought those things benefitted our business, but we didn’t realize it benefitted it as much as it has. It has been truly amazing.”The RV industry is one of the only sectors of travel and leisure seeing such a strong rebound, and until the threat of COVID-19 is behind us, industry experts expect continued high demand.“It is clear that this summer is a moment for the RV industry, for drive-to travel and for people kind of experiencing travel in a different way,” said Gray.Because of high demand, RV rental companies and resorts warn those interested in taking road trips and camping should book soon.“If somebody want to go camping, they should book their reservations now,” said Bracking. “For this year and even next year, because they are filing up and I suspect by July 4 they are going to be very full.” 2165
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 school shooting was over in seconds. But it could have dragged on longer and proven deadlier were it not for the rapid response of a school resource officer.When a 17-year-old gunman walked into Maryland's Great Mills High School on Tuesday, the swift action of the school's sole resource officer, Blaine Gaskill, was instrumental in bringing the incident to a quick end.Gaskill's response was hailed as an example of exactly what a resource officer is supposed to do in such a circumstance, particularly when contrasted to the actions of the security officer in last month's shooting in Parkland, Florida. (In the incident at Marjory Stoneman Douglas High School on February 14, the armed school resource deputy waited outside the school building as the shooter gunned down students inside.)"He responded exactly how we train our personnel to respond," St. Mary's County Sheriff Tim Cameron told reporters.Engaging the shooterAs soon as the gunfire began, Gaskill rushed to the scene. He fired a round at the shooter, who also fired a round at the same time, Cameron said.It's not yet clear whether the shooter, Austin Wyatt Rollins, was felled by the officer's bullet or killed himself."DFC [Deputy First Class] Gaskill fired at the shooter ... almost simultaneously as the shooter fired," Cameron said. "This is something we train, practice and in reality, hope would never come to fruition. This is our worst nightmare."Gov. Larry Hogan called Gaskill "a very capable school resource officer who also happened to be a SWAT team member.""This is a tough guy who apparently closed in very quickly and took the right kind of action," he said. "And while I think it's still tragic, he may have saved other people's lives."Over in secondsThe incident began in a school hallway at 7:55 a.m., just before classes started. Authorities say Austin, armed with a handgun, shot a female student, with whom he had a prior relationship, and another male student.Gaskill responded to the scene in less than a minute, the sheriff said.Cameron said the entire incident took less than a minute, possibly seconds.The 16-year-old female student is in critical condition with life-threatening injuries, and the 14-year-old male student who was shot is in stable condition.Gaskill was unharmed."He's doing well and we're going to do everything to support and promote him and his well-being," Cameron said.Playing to a narrativeGaskill's actions were praised, rightly, across social media. But some -- most notably, the NRA -- held him up as an example of the "good guy with a gun" theory. The theory goes, that bad guys will always find a way to circumvent whatever gun laws are in place. And "to stop a bad guy with a gun," as NRA head Wayne Lapierre?said, "it takes a good guy with a gun.""This [Great Mills High School] armed school resource officer, you're not hearing anyone in #MSM talk about it because it disrupts their narrative," NRA spokeswoman Dana Loesch said in one of several tweets Tuesday. (MSM is short for mainstream media.)So far, this year, there have already been 17 school shootings where someone was hurt or killed.In the Parkland shooting, school resource deputy Scot Peterson never entered the building after taking a position outside. He resigned after he was suspended without pay for his inaction."Had our resource officer taken action immediately, the result of the Stoneman Douglas Valentine's Day Massacre would have been different," Parkland student Kai Koerber told CNN."We might not have had to walk over the bodies of our classmates, once lovely and wonderful people, as we were led away from murderous tragedy."Speaking to reporters, Dr. James Scott Smith, the superintendent of St. Mary's County's public schools, put the senselessness of it all in perspective."It looks as though the SRO [school resource officer] did exactly what the SRO is trained to do, and yet we still have a tragic loss of life," he said. "We still have somebody in critical condition. And we have students at the school and staff at the school impacted." 4086