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The Dow Jones Industrial Average recovered on Tuesday, closing up 1,163 points as oil stocks bounced back after a turbulent Monday. Although the coronavirus was likely a major factor in Monday's record point drop, oil stocks also tumbled on Monday as a feud between Russia and Saudi Arabia over oil prices led to the plummet. Many of those same stocks saw a recovery on Tuesday. The Dow lost a record 2,000 points on Monday.Still, the Dow has lost ground over the last several weeks. The market has lost 4,500 points from last month, or roughly 15% of its value. The Dow's Tuesday resurgence came despite coronavirus figures jumping nationwide. More than 700 cases have been reported nationwide, with 28 fatalities. 728

The Congressional Budget Office said Monday that the U.S. economy could be .7 trillion smaller over the next decade than it otherwise would have been if Congress does not mitigate the economic damage from the coronavirus.The CBO, which had already issued a report forecasting a severe economic impact over the next two years, expanded that forecast to show that the severity of the economic shock could depress growth for far longer.The new estimate said that over the 2020-2030 period, total GDP output could be .7 trillion lower than CBO had been projecting as recently as January. That would equal 5.3% of lost GDP over the coming decade.After adjusting for inflation, CBO said the lost output would total .9 trillion, a loss of 3% of inflation-adjusted GDP.CBO called this a “significant markdown” in GDP output as a result of the pandemic.“Business closures and social distancing measures are expected to curtail consumer spending, while the recent drop in energy prices is projected to severely reduce U.S. investment in the energy sector,” CBO Director Philip Swagel said in a letter.“Recent legislation will, in CBO’s assessment, partially mitigate the deterioration in economic conditions,” Swagel said in the letter to Sens. Chuck Schumer, D-N.Y., and Bernie Sanders, I-Vt. The two had requested the information as a way to pressure Republicans to follow the lead of the House and pass more economic relief.“Last week we learned that over 40 million Americans lost their jobs as a result of this horrific pandemic,” Schumer and Sanders said in a joint statement. “Today, the CBO tells us that if current trends continue, we will see a jaw-dropping trillion reduction in economic growth over the next decade.”Schumer and Sanders said Republicans should stop blocking legislation to provide more assistance given that 40 million workers have lost their jobs already.“In order to avoid the risk of another Great Depression, the Senate must act with a fierce sense of urgency,” Schumer and Sanders said.The CBO is forecasting that the GDP, which shrank at a 5% rate in the first three months of this year, will fall at a 37.7% rate in the current April-June quarter, the biggest quarterly decline on record.The CBO also issued a separate report detailing a cost estimate for a .4 trillion COVID-19 rescue bill that passed the Democratic-controlled House in mid-May. That legislation is built around 5 billion in aid to state and local governments, another ,200 payment to most American workers, and additional aid to colleges and local school districts. The price tag is slightly higher than a back-of-the-envelope figure provided by Democrats when the measure passed.Senate Republicans have dismissed the proposal as a wish list but have yet to unveil any proposal to counter it. 2817

The Duke and Duchess of Sussex have released a new image of their son, Archie Harrison Mountbatten-Windsor, in honor of Father's Day.The photo, which appeared on the royal couple's 193

The alleged victims of accused sex trafficker Jeffrey Epstein are angry they will not get the opportunity to face in court the man they say raped them as girls."We have to live with the scars of his actions for the rest of our lives, while he will never face the consequences of the crimes he committed, the pain and trauma he caused so many people," Jennifer Araoz, who accused Epstein of raping her when she was 15, said in a statement.The multimillionaire hedge fund manager's death from an apparent suicide Saturday in his cell ends the criminal case against him, but what does that mean for his accusers' quest for justice?Authorities have said they will continue to investigate Epstein's alleged actions, and US Attorney General William Barr said Monday the case "will continue on against anyone who was complicit with Epstein." At the same time, legal experts say the civil cases against Epstein, and anyone connected to the allegations in the case, will continue."It is a shame that Epstein will not face justice, and the survivors in this case will not have the satisfaction of his conviction," Scott Berkowitz, president of RAINN -- one of the largest anti-sexual violence organizations in the nation -- told CNN. "However, reporting has made clear that there were others who aided and abetted Epstein in his crimes, and we hope that the US attorney will continue to pursue those individuals. Epstein's death should not let them off the hook."Two unnamed accusers asked a federal judge to roll back a nonprosecution agreement that Epstein reached in 2008 in Florida, which provided immunity to his alleged co-conspirators, according to a court document filed Monday in 1691

The District of Columbia Attorney General's Office has subpoenaed the Trump inaugural committee for documents related to its finances.The subpoena, dated February 26 and obtained by CNN, says the attorney general, Karl Racine, is investigating "whether the Committee's expenditures of its nonprofit funds were wasteful, mismanaged, and/or improperly provided private benefit, causing the Committee to exceed or abuse its authority or act contrary to its nonprofit purpose."The new probe indicates widening interest among law enforcement officials into Trump's inaugural, which is also being investigated by prosecutors in New York and New Jersey.The documents, due by March 29, cover a wide swath of committee activity. The subpoena asks for inaugural committee financial and governance documents, vendor contracts and communications, as well as money the committee paid to the Trump Organization and the Trump International Hotel in downtown Washington. The hotel was a hot place to stay for revelers attending Trump's inauguration in January 2017, and it remains a central hangout for tourists and Trump associates in the city.The office declined to comment, when reached by CNN. 1194

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