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The stock market had its worst day in a month as virus cases surge and help for the economy from Washington remains nowhere in sight. The S&P 500 fell 1.9% Monday, deepening its losses from last week. Stocks of companies that need the virus to abate and the economy to return to normal had some of the biggest losses. Cruise lines and airlines fell sharply. Energy stocks also dropped in tandem with crude oil prices. In another sign of caution, Treasury yields pulled back after touching their highest level since June last week. Overseas markets also fell.The drop in stock value came as coronavirus cases reached peak levels in the US over the weekend, while White House chief of staff Mark Meadows proclaimed that the US would be unable to contain the spread of the virus. 788
The Sinaloa drug cartel, once run by one of the most wanted men in the world, El Chapo, has made its way to Northeast Ohio. It's a drug-trafficking ring moving large amounts of drugs from Mexico onto the streets."I don't think people understand how significant and embedded it is in Northeast Ohio," said Keith Martin, Assistant Special Agent in Charge of Cleveland's Drug Enforcement Administration. Authorities recently found a stash house in a Maple Heights neighborhood and another on Cleveland's west side. "The unfortunate fact is the drugs on our streets come from somewhere. Coco plants don't grow in Cleveland. Poppy plants don't grow in Parma, they come from somewhere else. They are, increasingly, in almost every case, the drugs are coming from Mexican cartels," said Justin Herdman, U.S. Attorney for the Northern District of Ohio. A three-year long DEA investigation, dubbed "Operation Loaded Deck," focused on taking down the local arm of the notorious Sinaloa cartel. During the investigation, authorities seized large quantities of heroin, cocaine and fentanyl, some of which were concealed in hidden compartments in cars. The drugs were moved across the U.S.-Mexican border and transported in these cars outfitted with secret traps. "Often times they'll go to great lengths, whether they've constructed a trap in a vehicle or a natural void in the vehicle," Major Gene Smith with the Ohio State Highway Patrol said.Just as astonishing, Cartel members were hiding in plain sight the whole time, even taking in a Cavaliers game — courtside."These aren't street-level dealers, they were dealing in massive quantities and, in return, huge amounts of cash," Herdman said. By the end of the investigation, 29 kilos of cocaine, eight kilos of heroin, a kilo of fentanyl and four pounds of marijuana were seized, along with nearly 0,000, guns, vehicles and dozens of cell phones. Operation Loaded Deck ended with 19 people sent to federal prison for their roles in the drug trafficking organization. 2115
The sudden and abrupt breakdown of the US Postal Service has unfolded in recent days as Democrats call for a funding boost ahead of this year’s presidential election.On Friday, the USPS announced a temporary price increase in some services from Oct. 18 until Dec. 27. The rate hike affects commercial services, as retail services are not affected.Meanwhile, the USPS has been removing mailboxes and processing machines. The machines and mailboxes are being removed across the country, according to local reports from a number of Scripps stations.On Friday, CNN and the Washington Post reported that a number of states have received letters from the Postal Service warning that they might not have the ability to ensure ballots are sent and returned in a timely manner. The warning comes as more Americans are expected to utilize mail-in voting due to the coronavirus pandemic.“The Postal Service is asking election officials and voters to realistically consider how the mail works,” Martha Johnson, a spokeswoman for the USPS, said in a statement to the Washington Post.Despite requesting a mail-in ballot himself for next week’s Florida primary, President Donald Trump has tried to sow doubt in recent weeks over the reliability of mail-in voting, claiming that the process is ripe with fraud. But there has been limited evidence to suggest his fears are founded.With the postal service facing financial troubles due to rising pension costs and decreasing usage, Trump said he would agree to funding the Postal Service, but would need some concessions from Democrats."Sure, if they gave us what we want. And it’s not what I want, it’s what the American people want," Trump said Friday. 1694
The Senate voted Wednesday to pass a measure that would repeal changes to net neutrality rules that were recently adopted?by the Republican-controlled Federal Communications Commission.The measure, which was backed by all 49 Democrats and Republican Sens. Susan Collins of Maine, Lisa Murkowski of Alaska and John Kennedy of Louisiana, will be sent to the GOP-led House, where it'll likely go nowhere -- and President Donald Trump is unlikely to back it.While Collins' support had been public leading up to the vote, Murkowski's and Kennedy's "yes" vote came as a surprise to some.Democrats used the Congressional Review Act to force a vote -- a law that allows Congress to repeal agency rules and regulations on a simple majority vote, instead of a 60-vote threshold needed to break procedural hurdles on most legislation, the kinds of traditional roadblocks where Senate leadership could typically hold up such a proposal.Senate Minority Leader Chuck Schumer spoke after the vote to begin debate earlier Wednesday, arguing that "at stake is the future of the Internet.""That fundamental equality of access is what has made the internet so dynamic," he said on the Senate floor. "Net neutrality protected everyone ... that era, the era of an open Internet, will unfortunately soon come to an end."He continued: "The Democratic position is very simple. Let's treat the internet like the public good that it is."The FCC voted in December to repeal Obama-era protections. The net neutrality rules, approved by the same organization two years earlier, prohibited Internet service providers -- such as Comcast and Verizon -- from speeding up or slowing down traffic from specific websites and apps.Democrats argued the new FCC rules give too much power to Internet service providers, which they fear will throttle down speeds for some websites and services while ramping it up for others who pay more.Schumer said in an earlier statement, "The repeal of net neutrality is not only a blow to the average consumer, but it is a blow to public schools, rural Americans, communities of color and small businesses. A vote against this resolution will be a vote to protect large corporations and special interests, leaving the American public to pay the price."While Democrats recognize they are unlikely to reverse the FCC's rule, they see the issue as a key policy desire that energizes their base voters, a top priority ahead of the midterm elections. 2456
The White House does not appear to be making any changes to current virus protocol, even after President Donald Trump and the first lady tested positive for COVID-19.A senior White House official said Friday that masks will still not be mandatory at the White House, describing facial coverings as “a personal choice,” despite overwhelming evidence that they help to stop the spread.And the White House is not planning to move to a different, more reliable testing system after the one it uses failed to detect that adviser Hope Hicks had the virus the day she began experiencing symptoms.The president, his White House and his campaign have generally taken a lax approach to the pandemic, continuing to hold large events and failing to abide by social distancing recommendations.The official, who spoke on condition of anonymity to discuss internal White House thinking, defended the current system. 908