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The United States is demanding that all United Nations sanctions be reimposed against Iran, a move that follows America’s embarrassing defeat to extend an arms embargo against Tehran. President Donald Trump says Secretary of State Mike Pompeo will travel to New York on Thursday to notify the Security Council president that the U.S. is invoking the so-called “snapback” mechanism in the council’s resolution that endorsed the 2015 Iran nuclear deal. Other nations claim the U.S. has no standing to make the move because the Trump administration pulled the U.S. out of the Iran nuclear deal two years ago."Today, I am directing the Secretary of State Mike Pompeo to notify the UN Security Council that the United States intends to restore virtually all of the previously suspended United Nations sanctions on Iran," Trump said. 836
The stock market is still sinking but the selling frenzy has eased just a bit.The Dow opened down about 100 points on Thursday morning, rebounding from sharp overnight losses. The Nasdaq started positive before slipping back into the red. The S&P 500 lost about 0.6%.Wall Street is attempting to recover from Wednesday's plunge, which wiped 832 points off the Dow. The Nasdaq in particular has gotten rocked in recent days. Investors have bolted from the index, which contains many tech stocks, because they are concerned about holding some of the market's riskiest stocks in a downturn. A proxy for the tech sector had its sharpest plunge in seven years on Wednesday.The S&P 500 was on pace for its sixth-straight decline, something that hasn't happened since just before President Donald Trump's election nearly two years ago. And the Nasdaq has already plunged 8% this month."Halloween started early this month for investors," Ed Yardeni, president of investment advisory firm Yardeni Research, wrote to clients.Concerns about inflation were eased a bit by a report released on Thursday that showed consumer prices rose in September less than feared.Still, tech stocks including Amazon and Apple lost ground in early trading. Square (SQ) slumped 6% after announcing the departure of its chief financial officer. But other tech stocks showed signs of life. Netflix and Twitter were trading flat to slightly higher.Stocks have turned sharply south because investors are increasingly 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. America's increasing debt load, a trade war with China and a slowing global economy have also unnerved investors.Wednesday's "rout has shaken investor confidence," Nicholas Colas, co-founder of DataTrek Research, wrote to clients. "That will take time to rebuild."The Dow plunged 832 points, or 3.2%, on Wednesday. Tech stocks took a beating, sending the Nasdaq tumbling 4% — its worst day since the Brexit referendum of June 2016.That dragged down stock indexes in the United Kingdom, Germany and France on Thursday, all of which fell more than 1%. Benchmark indexes in Shanghai and Tokyo closed down 5.2% and almost 4%, respectively. Hong Kong's market was down over 3%.The S&P 500's 3% plunge on Wednesday was rare. It's only happened in 0.6% of all trading days since 1952, according to Bespoke Investment Group.The good news is that the market often springs back to life after such a deep sell-off. Bargain hunters scoop up beaten-down stocks and calmer heads prevail. On average, the S&P 500 has gained 0.4% the day after a 3% slide, Bespoke said.That's what happened in February after the S&P 500 twice suffered 3% drops caused by fears about rising bond yields. Both sell-offs were followed by rebounds of more than 1% the next day.But Yardeni is optimistic the market will rebound because corporate profits are robust and no recession is in sight."We remain bullish on the outlook for earnings, and expect the market to recover and make new highs going into next year," Yardeni wrote.The-CNN-Wire 3435

The U.S. population grew by the smallest rate in at least 120 years from 2019 to 2020.Figures released Tuesday by the U.S. Census Bureau show the U.S. population grew by 0.35% from July 2019 to July 2020, an increase of 1.1 million people in a nation with an estimated population of more than 329 million residents.Demographer William Frey says population growth in the U.S. already had been stagnant over the past several years due to immigration restrictions and a dip in fertility.However, the pandemic exacerbated that lethargic-growth trend.Even during the height of the Spanish flu, the growth rate was higher — 0.49%. 632
The Trump administration on Thursday imposed penalties on 17 individuals over their alleged roles in the killing of dissident journalist Jamal Khashoggi.The fresh sanctions from the Treasury Department come hours after Saudi prosecutors said they would seek the death penalty for five people charged in the death of Khashoggi, who was a contributor to The Washington Post."The Saudi officials we are sanctioning were involved in the abhorrent killing of Jamal Khashoggi," said Treasury Secretary Steven Mnuchin in a statement. "These individuals who targeted and brutally killed a journalist who resided and worked in the United States must face consequences for their actions."The secretary said the US government would work "diligently" to obtain all the facts on the death of Khashoggi and hold "accountable" any individual found responsible."The Government of Saudi Arabia must take appropriate steps to end any targeting of political dissidents or journalists," he said.Mnuchin had previously told reporters it would be "premature" to discuss whether the US would impose sanctions on the Saudi government.Earlier on Thursday, the Saudi Public Prosecutor's office said a total of 11 people were charged, adding that the five people facing capital punishment were directly involved in "ordering and executing the crime."The prosecution also shared details of the journalist's murder, saying Khashoggi was killed on October 2 following "a fight and a quarrel" at the Saudi consulate in Istanbul. Prosecutors say Khashoggi was tied up and injected with an overdose of a sedative that killed him, then his body was chopped up and given to a local collaborator. 1668
The U.S. economy added 250,000 jobs in October, significantly exceeding expectations, the government announced Friday.The unemployment rate remained at 3.7 percent, a 49-year low. Wages grew 3.1 percent, strong growth after years of stagnant paychecks.The number will likely serve as a talking point for President Donald Trump and Congressional Republicans as they make closing arguments before the midterm elections next Tuesday.The year-over-year percentage growth in average hourly earnings looks larger than it actually is because wages declined last October as low-wage workers returned to their jobs following a particularly strong hurricane season. Month to month, hourly earnings increased by only five cents, a modest increase. 744
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