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Immediately following President Donald Trump’s decision to drop negotiations with House Democrats on a new stimulus deal, stocks dropped on Tuesday.The Dow Jones Industrial Average, which was up several hundred points earlier in the day, closed down 375 points following the announcement.The markets, which spent much of the summer rebounding after a sudden drop in value in March, have remained stagnant in recent weeks. In early September, the Dow Jones reached 29,000 points for the first since February. It appeared the Dow Jones Industrial Average was on its way to returning to pre-pandemic levels. But the Dow dropped in September, and closed at 27,772 on Tuesday.Trump said that he will not resume negotiations with House Democrats until after next month’s election, which is four weeks from today.Late last month, House Democrats passed a .2 trillion stimulus plan despite knowing it would not be entertained by the US Senate. The proposal still costs more than the White House has said it would like, but is down from the .4 trillion stimulus plan House Democrats passed back in May.In addition to another set of ,200 direct payments to millions of Americans, House Democrats propose using 5 million for education, more funding for the struggling airline industry, and 6 million for local governments. The set of proposals would also include a 0 per week unemployment supplement, which expired at the end of July. 1446

Hurricane Lane weakened as it marched toward Hawaii, but it's list of life-threatening calamities is still going strong.The hurricane was downgraded to a Category 3 storm Thursday, even as it unleashed torrential rainfall, flooding and landslides over parts of Hawaii's Big Island, along with dangerous surf and high winds. The conditions continued early Friday.Lane is forecast to bring even more damage as its center gets closer Friday and Saturday. While it's unclear whether the islands will get a direct hit, the hurricane will bring "significant and life-threatening flash flooding and landslides," the National Weather Service said.The center of the hurricane "will move over, or dangerously close" to parts of Hawaii islands Friday, the Central Pacific Hurricane Center said. It was about 230 miles (370 km) south of Honolulu early Friday, and could become the first major cyclone to make landfall in the state in 26 years.Track the storm here"Some weakening is forecast during the next 48 hours, but Lane is expected to remain a hurricane as it approaches the islands," the center said.Hawaii Islands include Kauai, Oahu, Molokai, Lanai, Maui, and the island of Hawaii, which is often referred to as the Big Island. 1232

I hope House Republicans will vote against the very weak National Defense Authorization Act (NDAA), which I will VETO. Must include a termination of Section 230 (for National Security purposes), preserve our National Monuments, & allow for 5G & troop reductions in foreign lands!— Donald J. Trump (@realDonaldTrump) December 8, 2020 348

HOUSTON, Texas – A businessman in Texas is facing federal charges after allegedly spending COVID-19 relief funds on improper expenses, including on real estate, a Lamborghini Urus and at strip clubs.Federal officials announced Tuesday that Lee Price III, 29, was taken into custody and charged with making false statements to a financial institution, wire fraud, bank fraud and engaging in unlawful monetary transactions.Price is accused of fraudulently obtaining more than .6 million in Paycheck Protection Program (PPP) loans. The loans provided by the Small Business Administration (SBA) are meant to support business owners struggling during the pandemic. Businesses must use the loan proceeds for payroll costs, interest on mortgages, rent and utilities.A criminal complaint alleges Price was involved in a scheme to submit fraudulent PPP loan applications to federally insured banks and other lenders, two of which received funding.Price Enterprises Holdings allegedly received more than 0,000, while a loan application listing 713 Construction was approved for over 0,000.The loan applications allegedly asserted both entities each had numerous employees and significant payroll expenses. However, neither entity has employees nor pays wages consistent with the amounts claimed in the loan applications, authorities say.Further, the individual listed as CEO on the 713 Construction loan application died in April 2020, a month before the application was submitted, according to the complaint.Price allegedly used the loan proceeds not for payroll expenses, but for lavish personal purchases, such as spending the loan money on a Lamborghini Urus, a Rolex watch and real estate transactions. He also allegedly spent thousands at strip clubs and other Houston night clubs. The complaint further alleges Price used a portion of the loan money to buy a 2020 Ford F-350 pickup truck. 1901

If someone asks to borrow your cellphone, would you lend it them? If you have a popular payment app on there, you might want to think twice.Popular money transfer apps and services like Venmo, PayPal or Apple Pay are all attached to people’s bank accounts.Brittany Burmeister uses Venmo every day. She wasn’t aware police in cities across the country are warning of a scam circulating, costing some thousands of dollars.It works like this: someone asks to use your smartphone, says their battery died or they left theirs at home, they use your payment app and steal your funds without you even knowing.Joseph Martinez, an information system security professor at Milwaukee Area Technical College, says when you’re not using them, log out of the money apps and while you’re at it, get off of Bluetooth.“They can hack into the phone via the Bluetooth portal and then through that portal have access to any application that you have your password and credentials automatically stored,” said Martinez.He also suggests linking your credit card instead of a debit card, so you have more protection. Burmeister is taking notes, considering her cell, like so many others, is a digital wallet. She says she’s not sure now if she’ll hand off her phone to a stranger. “I’d probably just say 'hey, I bet the restaurant has a phone inside' or if they’re in a public place,” said Martinez. A spokesperson for Milwaukee police hadn’t heard of any reports but urges people to be cautious. Martinez says as another precaution, you should download antivirus and spyware apps and what’s called a VPN app, or "virtual private network." It will shield your financial apps from strangers trying to gain access. 1726