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The US stock market sank deeper into the red following sluggish economic reports on Monday and bad news from a couple of blue-chip giants.The Dow fell 600 points by late afternoon, or 2.6%. The S&P 500 lost 2.6% and retreated to its lowest level of the year. And the Nasdaq joined the Dow & S&P 500 in negative territory for 2018. All three indexes have plunged about 7% so far this December.The Dow closed down 507 points for the day.And the Russell 2000 index of small-cap stocks tumbled into a bear market, marking a 20% decline from the record highs notched in late August.A weaker reading from the New York Federal Reserve about manufacturing in the Empire State and a drop in confidence from the nation's homebuilders weighed on the markets."Investors are zeroing in on this idea of slower growth for 2019," said Michael Arone, chief investment strategist at State Street Global Advisors. "More people are worried about a recession in late 2019 or 2020."The political noise in Washington isn't helping either. President Trump, in a tweet Monday morning, repeated his criticism of the Federal Reserve for its recent rate hikes. The Fed meets Wednesday and is widely expected to raise rates again.But Trump tweeted that "it is incredible that with a very strong dollar and virtually no inflation, the outside world blowing up around us, Paris is burning and China way down, the Fed is even considering yet another interest rate hike. Take the Victory!"The Fed is supposed to be politically independent. Any evidence that it might be swayed by attacks from Trump could unnerve the markets."If the Fed doesn't raise rates it will look like it's succumbing to the bullying of Trump's tweets," Arone said.But Nancy Perez, managing director at Boston Private, said the Fed is likely to slow down its pace of rate hikes in 2019 simply because the economy is slowing, not because of pressure from Trump.Perez added that the recent market turmoil is justified because investors are readjusting to this fact."We have been getting a bump in profit margins due to lower taxes but the earnings growth itself is not sustainable," Perez said. "Projections will come down and volatility will continue." 2247

The U.S. surpassed the 14 million mark in confirmed cases of COVID-19 Thursday and set new records in both daily recorded cases and daily deaths as the country delves deeper into the bleakest stretch of the pandemic.On Thursday alone, Johns Hopkins says that the U.S. reported 2,879 deaths linked to COVID-19, and 217,664 more people were confirmed to have contracted the virus.Thursday marked the second straight day that the U.S. set a record in daily reported deaths. According to Johns Hopkins, at least 2,500 people have died of COVID-19 in the last three days.Thursday also marked a new record in daily reported cases of the coronavirus and the third day in the last week that the U.S. had reported more than 200,000 cases.Finally, Thursday marked an entire month (from Nov. 3 to Dec. 3) of at least 100,000 new cases of COVID-19 each day. Between Oct. 30 and today, more than 5 million Americans have contracted COVID-19 — a figure that represents 36 percent of all cases that have been recorded since the pandemic began.And as dire as the situation is today, health experts only expect the virus to spread further in the coming days. Millions of people boarded an airplane to travel this weekend, and health experts say the spread that occurred during the Thanksgiving holiday is just now being recorded in tests.Deaths are also a lagging statistic, meaning those figures will likely rise in the coming weeks. And with many hospitals already at capacity — the COVID Tracking Project reports that an all-time high 100,000 Americans across the country are fighting the virus in a hospital — some health care facilities may be forced to turn patients away. 1673

The United States Air Force swore-in its first Black chief of staff on Thursday.Air Force Secretary Barbara Barrett administered the oath of office to Gen. Charles Q. Brown during a ceremony at Joint Base Andrews, Maryland.“This is a very historic day for our nation, and I do not take this moment lightly,” Brown said at the ceremony. “Today's possible due to the perseverance of those who went before me, serving as an inspiration to me and so many others." 467

The US has reported more deaths from the coronavirus on Wednesday than in any other single day during the pandemic, according to data from Johns Hopkins University.According to Johns Hopkins’ figures, local health officials reported 3,157 deaths from COVID-19 on Wednesday, shattering the previous record of 2,607 set in April.The marker comes as CDC Director Robert Redfield warned on Wednesday that the US could see an additional 180,000 coronavirus-related deaths between today and the end of January — an average of at least 3,000 a day.Meanwhile, coronavirus hospitalizations in the US topped 100,000 on Wednesday according to the COVID Tracking Project, a mark that is well above the spring and summer surges of the coronavirus. Nearly 13% of all US hospital beds are being used by coronavirus patients, placing the nation’s health care system in a precarious situation.Despite population increases since the 1970s, the number of hospital beds in America has steadily declined, according to CDC figures.Wednesday's figures would likely not include infections that occurred during the Thanksgiving holiday weekend as coronavirus infections can take weeks to cause hospitalizations. Public health experts are fearful that despite some states implementing shutdowns of businesses, that holiday travel will cause an additional spike in coronavirus cases.According to Johns Hopkins, the U.S. has recorded at least 100,000 new COVID-19 cases each day since Nov. 3. 1472

The Trump administration will impose more sanctions on Russia under a chemical and biological warfare law following the poisoning of a former Russian agent and his daughter in the UK earlier this year, the State Department announced Wednesday.In a statement Wednesday, State Department spokeswoman Heather Nauert said the US had made this decision on Monday, and accused Russia of violating international law. The statement anticipated the sanctions would go into effect around Aug. 22 in line with the Chemical and Biological Weapons Control and Warfare Elimination Act of 1991.Sergei Skripal, a former Russian spy, and his daughter Yulia Skripal were hospitalized and treated for a nerve-agent attack in March. Yulia Skripal was discharged from the hospital in April, and her father was discharged in May.The State Department notified Congress on Wednesday of the first of two potential tranches of sanctions required under the 1991 law. Unless Russia takes certain steps, a second set of penalties -- more stringent than this first round -- must follow, according to the law.The first set of sanctions targets certain items the US exports to Russia that could have military uses -- so-called dual use technologies. These are sensitive goods that normally would go through a case-by-case review before they are exported. With these sanctions, the exports will be presumptively denied.A senior State Department official said there would be carve-outs however.The US would then require Russia to assure over the next 90 days that it is no longer using chemical or biological weapons and will not do so in the future. Additionally, the criteria in the law call for Russia to allow on-site inspectors to ensure compliance.The official said that if Russia did not meet the demands, the US "will have to consider whether to impose a second tranche of sanctions as specified by the statute."The United Kingdom welcomed the move from the US on Wednesday. In a short statement, a government spokesperson said, "The strong international response to the use of a chemical weapon on the streets of Salisbury sends an unequivocal message to Russia that its provocative, reckless behaviour will not go unchallenged." 2212