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The jittery stock market is once again heading south.The Dow dropped 327 points, or 1.3%, on Thursday, with selling accelerating after Treasury Secretary Steven Mnuchin backed out of a conferencein Saudi Arabia. The index had been down 471 points at one point.Tech stocks fell sharply, sending the Nasdaq tumbling 2.1%. Netflix declined 5%, while Facebook and Amazon lost about 3% apiece.Stock market volatility is back on Wall Street. Fears about rising bond yields and the US-China trade war sparked heavy selling last week, the worst for all three major indexes since March. Stocks rebounded sharply on Tuesday, before another wobbly session on Wednesday. The CNN Business Fear & Greed Index of market sentiment is flashing "extreme fear."The market slide gathered steam on Thursday after Mnuchin announced on Twitter that he will not participate in the Saudi summit. Mnuchin said it was a joint decision with President Donald Trump and Secretary of State Mike Pompeo. An administration official told CNN that no other government officials will attend the event in Mnuchin's place.The news adds to rising global uncertainties, including concerns about Italy's budget and a plunge in China's stock market.David Kotok, chief investment of Cumberland Advisers, said he believes Thursday's market slide was driven more by concerns about Italy and China."But Mnuchin doesn't help things," said Kotok.Mnuchin's announcement points to elevated tensions between the United States and Saudi Arabia over the disappearance of Washington Post journalist Jamal Khashoggi.Saudi Arabia has threatened to retaliate against potential US sanctions. The kingdom is the world's largest oil exporter, giving it great sway over global energy prices. US oil prices briefly bounced on the Mnuchin news but closed lower on the day.Saudi Arabia has also played a huge role financing the rise of Silicon Valley, serving as the tech industry's unofficial banker.But the market has also been pressured by other international developments. Even before Mnuchin's tweet, analysts pointed out that Italian bond yields spiked due to concerns about Italy's budget proposal. The European Union plans to send a formal warning letter to Rome to signal displeasure over plans to increase Italy's budget deficit, Reuters reported.Chinese markets were also under pressure. The Shanghai Composite plunged nearly 3% overnight, falling deeper into a bear market as the US-China trade war continues to linger.US investors continue to move money out of the riskiest parts of the market and into defensive areas. While tech stocks fell sharply, defensive areas such as utilities and telecom rose slightly."There is a rotation away from the tech and momentum names," Kotok said. "One has to ask: Has FANG been defanged?" 2868

The Los Angeles Police Department says an investigation is underway after a man attacked and robbed three transgender women in Hollywood on Monday.KTLA-TV in Los Angeles said police are investigating the incident as a hate crime.Video of a portion of the assault was widely shared on social media. It shows the suspect assaulting the women and also demanding clothing and jewelry from them.According to the LAPD, the man went up to one of the victims with a metal bar and told her to give him her shoes and bracelet. He then grabbed her hand and walked with her for a short distance before she was able to escape.Later, police say the suspect attacked one of the woman's friends with a bottle, knocking her to the ground.The suspect also allegedly made derogatory remarks about the victims' sexual identity during the attack.LAPD shared a photo of the suspect in the hopes of tracking him down. 902

The race to develop a viable COVID-19 vaccine is creating opportunities for cyber attackers.“Nation states or certain organizations are targeting vaccine researchers and overwhelmingly the vectors that we're seeing are still email-based, so that that continues to be the biggest concern,” said

The National Institutes of Health (NIH) is the largest clinical research hospital in the country. It’s a government run medical research agency, and about 7,000 scientists work in its research laboratories looking for new ways to improve health and save lives.Next year, more than billion in taxpayer dollars will be spent here to find treatments and cures for the biggest health issues in the country, including heart disease, cancer and Alzheimer’s.Right now, there are about 1,600 research studies in progress.Dr. Larissa Korde is part of one of those studies, working to help find the latest breakthrough in breast cancer.She says the work done at NIH has a proven track record.“Women with her2 positive breast cancer now have numerous effective therapies and tend to live longer than they did before those drugs were evaluated and came to the market,” Dr. Korde explains. “And our research has been involved all along the way.”               With each new study, doctors continue to learn more and hope the next discovery will help save more lives.   1112

The job market keeps pumping out jobs.The unemployment rate fell to 3.9 percent and the economy added 157,000 jobs in July, the Labor Department said Friday.But workers' average hourly paychecks grew tepidly from the previous month and are up just 2.7 percent compared to the same time last year. During previous expansions, wages have grown at a faster pace. Economists' maintain that wages will rise as economy drains remaining slack from the labor market and businesses' pay more to retain workers.Related: How the US economoy is doing now in four charts"With inflation running at a roughly 2 percent rate, that means that there's not a lot of financial wiggle room for many Americans," said Mark Hamrick, Bankrate.com's senior economic analyst. Economists will get another update on inflation next week when consumer and producer price indexes' are released.A quirk in the calendar may explain why average hourly wages inched up only 7 cents from June to July, explained Josh Wright, chief economist at software firm iCIMS: The Labor Department surveys employers at a different time than when companies pay their workers.On the bright side, the hiring spree has continued as the economy marches along. The economy grew at 4.1 percent during the second quarter, its fastest place in nearly four years.Related: US economy grows at fastest paces since 2014In a statement on Wednesday, the Federal Reserve described a healthy picture of the US economy."Job gains have been strong, on average, in recent months, and the unemployment rate has stayed low," the Fed said. "Household spending and business fixed investment have grown strongly."Although the July hiring number fell below economists' expectations, the government revised the previous months' job gains by an additional 59,000. With revisions, job gains have averaged 224,000 a month over the past three months.So far this year, job growth has averaged 215,000 per month, above last year's pace of 182,000, noted PNC chief economist Gus Faucher.Last month, the manufacturing sector added 37,000 jobs. Economists were watching manufacturing closely for signs of a drag from the Trump administration's escalation of trade tensions with China and allies."It appears to be that the strength of fiscal stimulus measures are outweighing any kind of effect of trade tensions," said Wright from iCIMS.The retail sector also added 7,000 jobs, despite 32,000 jobs lost in sporting goods, hobby, book, music and toy stores.Despite many businesses' trouble finding qualified workers, they are still hiring and looking outside traditional pools for talent.That's good news for workers without a high school degree and those without a college degree. The unemployment rate ticked down for both groups last month."This is not a labor market in which you're going to get your wish list candidate," Wright said. "The question is, 'Can you hire someone who's good enough?'"The-CNN-Wire 2934

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