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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 use of telehealth has become a common practice during the pandemic. Now, some doctors hope it continues to be an important tool in the healthcare industry."There are a number of bills have been proposed," said Dr. Tesh Monteith, a neurologist and fellow with the American Academy of Neurology.Dr. Monteith says Congress is considering several bills to keep telehealth, which allows patients to video conference with a doctor instead of going in for a physical appointment, around for the long run.When the pandemic hit, rules regarding telehealth changed, allowing for doctors to be financially reimbursed for the virtual appointments."It's allowed patients to access care. They're patients that would normally have to take days off, or to keep providers, multiple providers, and if they can do that, they may have childcare issues and not be able to get to a clinic," said Dr. Monteith.The bills would allow for everything from permanent reimbursement for physicians to allowing doctors to virtually see patients across state lines."Some of these bills are proposing that there are not limitations within states. For example, there are issues of licensing. A doctor licensed in New York should they be able to see a patient with a specialized disorder in Minnesota or does that patient have to come in Minnesota," explained Dr. Monteith.While telemedicine has been an important part of making sure people received medical care and diagnoses during the pandemic, doctors agree that the virtual visits in no way can replace seeing your physician in person."Because I know my patients well, I’m a pediatrician, I can do so much over telehealth with the kids I know. When they're sick I can look at them. I can watch them breathe. I can ask them to jump up and down and have the parents press on their tummy, but I can’t look in their ears. I can’t listen to their heart, and if it’s a family that I don’t know, there is concern that I might miss something," said Dr. Tanya Altmann, a pediatrician in California.Dr. Altmann says telehealth can also be a very valuable tool.As for reimbursement for physicians, Dr. Altmann says, "anyway that a physician or healthcare provider reaches out to a family to help with anything medical, it should be compensated."Dr. Altmann says pediatricians can sometimes spend hours on the phone with patients at night, work they don't get paid for. Getting reimbursed for telehealth visits with patients would be a plus."Patients need to empower themselves to learn about telemedicine, to learn what questions to ask a doctor. Have an advocate or family member there to even help with the physical examination," suggested Dr. Monteith.Dr. Monteith says medical professionals estimate there have been more than one billion telemedicine appointments since the pandemic began. She hopes Congress passes the telehealth-related bills to further expand medical access to people across the country. 2932
The Trump campaign has officially filed a lawsuit in Wisconsin's Supreme Court in an attempt to overturn election results in the state.The Wisconsin Elections Commission confirmed Joe Biden's victory Monday in the battleground state following a partial recount. Milwaukee and Dane counties finished their recounts over the weekend and results added to Biden's 20,600 vote margin over President Donald Trump.The president's campaign has repeatedly alleged fraud in the state's election, though it has not presented any proof. The election officials for both counties who did recounts said there was no fraud uncovered in the process.The WEC confirmation of the results opened a five-day window for the president's campaign to file a lawsuit.The campaign filed a lawsuit Tuesday morning, in an attempt to overturn results by disqualifying as many as 200,000 ballots."What we had is an abuse of the absentee process, dramatically in Dane and Milwaukee County,” said Jim Troupis, attorney for the Trump Campaign.The suit is specifically seeking to dismiss absentee ballots where the clerks' offices "inserted missing information,” people cast ballots "claiming Indefinite Confinement status" even If they "no longer qualified,” and absentee ballots "improperly cast or received at ‘Democracy in the Park’ events,” which were held in Madison.The lawsuit also targets many in-person absentee voters who the Trump campaign claims did not follow Wisconsin law which requires "voters submit a written application.""We introduce evidence in the proceeding we introduced evidence that they in fact followed the law. They in fact required appropriate application in advance of the in-person voting,” said Troupis.In a filing late Tuesday evening, Gov. Evers and his legal team issued a forceful rebuttal against the lawsuit: "President Trump’s Petition seeks nothing less than to overturn the will of nearly 3.3 million Wisconsin voters. It is a shocking and outrageous assault on our democracy. The relief he seeks is wrong as a matter of law, incorrect as a matter of fact, and mistaken as a matter of procedure. Indeed, he has sought relief in the wrong court and has refused to follow the proper steps under the statute that he himself acknowledges governs the appeal of recounts. And by focusing on alleged technical violations in only two counties, he has made plain 7 that his intent is not to fairly determine who Wisconsinites voted for to lead our country. He is simply trying to seize Wisconsin’s electoral votes, even though he lost the statewide election."Mayor Tom Barrett says Milwaukee conducted in-person absentee voting exactly like all the other counties in the state. Barrett addressed the Wisconsin Elections Commission meeting on Tuesday to voice his opposition to the Trump campaign's attempt to throw out those votes."They are challenging the entire election system in Wisconsin claiming entire groups of absentee by mail and absentee in person were not legitimate. And I would add they are only doing it in select counties. These claims are obviously an egregious attempt to discredit this fair election,” said Barrett.Wisconsin Election Commissioner and Republican Dean Knudson spoke out Tuesday afternoon in the commission meeting that he believes this lawsuit still proves Wisconsin has safe elections.“I am in a position to look at fraud in Wisconsin and I have yet to see a credible claim of fraudulent activity in this election. The Trump campaign has not made any claims of fraud in this election. The filing in, there is some disputes over matters of law,” said Knudson.The WEC has debunked previous claims for the campaign about fraud in the election process.The president's campaign lawsuit included four instances where it claims votes were counted illegally:Lawsuit claims municipal clerks were instructed to fill in missing information on returned absentee ballots based on their "personal knowledge" or "lists or databases."Lawsuit claims municipal clerks issued absentee ballots to voters without requiring written absentee ballot applications.Lawsuit claims election officials permitted voters who claimed to be indefinitely confined to "circumvent voter ID laws" without "meeting the requirements for that status."Lawsuit claims the city of Madison created "unlawful polling locations at over 200 parks and city locations" through its Democracy in the Park voting events. The suit claims that these locations were outside of the county's approved polling locationsRead the full petition below:2020AP1971 Pet for Orig Action (12!1!20) by TODAY'S TMJ4 on ScribdRead the supporting memo below:2020AP1971 Memo in Supp Pet. Orig Action (12!1!20) by TODAY'S TMJ4 on ScribdThis story was originally published by WTMJ in Milwaukee. 4761
The U.S. communications regulator on Tuesday proposed a 5 million fine, its largest ever, against two health insurance telemarketers for spamming people with 1 billion robocalls using fake phone numbers.The Federal Communications Commission said John Spiller and Jakob Mears made the calls through two businesses. State attorneys general of Arkansas, Indiana, Michigan, Missouri, North Carolina, Ohio and Texas also sued the two men and their companies, Rising Eagle and JSquared Telecom, in federal court in Texas, where both men live, for violating the federal law governing telemarketing, the Telephone Consumer Protection Act.The FCC said the robocalls offered plans from major insurers like Aetna and UnitedHealth with an automated message. If consumers pressed a button for more information, however, they were transferred to a call center that sold plans not connected to those companies. The FCC said the Missouri attorney general sued Rising Eagle’s largest client, Health Advisors of America, for telemarketing violations last year.Over more than four months in early 2019, the FCC said, these telemarketers faked the number their calls displayed in caller ID with intent to deceive consumers; purposefully called people who are on the Do Not Call list; and called people’s mobile phones without getting permission first.Consumers weren’t the only ones bothered. The telemarketers faked their calls to make them appear they came from other companies, which then received angry calls and were named in lawsuits from consumers. The FCC didn’t name these companies, but said one got so many calls that its phone network “became unusable.”The fine is not a final decision. Spiller and Mears will have a chance to respond.As robocalls became a pressing issue for consumers, both as an annoyance and as a vehicle for fraud, the FCC has pushed carriers to do more to stop them. A new law beefs up enforcement and mandates that the phone industry not charge for call-blocking tools and put in place a system designed to weed out “spoofed” calls made using fake numbers.Reached by phone at the number listed for JSquared, Spiller declined to comment. He declined to provide contact information for Mears and said neither would speak before talking to an attorney. 2275
The US surgeon general issued an advisory Thursday recommending that more Americans carry the opioid overdose-reversing drug, naloxone.The drug, commonly known as Narcan, can very quickly restore normal breathing in someone suspected of overdosing on opioids, including heroin and prescription pain medications.Dr. Jerome Adams emphasized that "knowing how to use naloxone and keeping it within reach can save a life." To make his point, Adams relied on a rarely used tool: the surgeon general's advisory. The last such advisory was issued more than a decade ago and focused on drinking during pregnancy.Adams noted that the number of overdose deaths from prescription and illicit opioids doubled in recent years: from 21,089 deaths across the nation in 2010 to 42,249 in 2016.America's top doctor attributed this "steep increase" to several contributing factors, including "the rapid proliferation of illicitly made fentanyl and other highly potent synthetic opioids" and "an increasing number of individuals receiving higher doses of prescription opioids for long-term management of chronic pain.""Research shows that when naloxone and overdose education are available to community members, overdose deaths decrease in those communities," Adams said. Naloxone is used by police officers, first responders and emergency medical techs to reverse opioid overdoses. Adams added that increasing both the availability of naloxone and effective treatment is critical to ending the opioid epidemic.Speaking at the National Prescription Drug Abuse & Heroin Summit in Atlanta on Thursday morning, Adams addressed the potential "moral conflict" felt by some people who believe that providing naloxone "doesn't make a difference," since many people with drug addictions will just "go on and misuse substances again.""Well, that would be like me saying 'I'm not gonna go do surgery on this trauma patient because they're just gonna go out and speed again,' " he said.Adams noted that in most states, people who are or who know someone at risk for opioid overdose can get trained to use naloxone properly and also may receive naloxone by "standing order" -- without a prescription -- from pharmacies or some community-based programs."No mother should have to bury their child ,and especially not when there's a life-saving medication that virtually anyone can access," Adams said. "It is for this reason that I am issuing the first Surgeon General's Advisory in 13 years."The-CNN-Wire 2484