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The San Francisco Fire Department released a dramatic video of its rescue swimmers braving choppy waters to save a man on Wednesday. 140
The Rev. Al Sharpton vowed to press for justice as he delivered the eulogy Thursday for Stephon Clark, an unarmed African-American man shot dead by Sacramento police.The sanctuary at Bayside of South Sacramento Church overflowed with people, so many sat outside as the funeral for the 22-year-old Clark took place."We will never let you forget the name of Stephon Clark until we get justice," Sharpton told mourners.Sharpton spoke into the microphone while being hugged by Clark's brother Stevante, who had just interrupted the service with an emotional plea to never forget his brother.Police fatally shot Stephon Clark in his grandmother's backyard on March 18, leading to days of protests. Police said they thought Clark had a gun, but only his cellphone was found at the scene. 789
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 US Consumer Product Safety Commission (USPSC) announced Wednesday that it is issuing a recall of Xtava Allure hair dryers due to concerns that they could catch fire or deliver electrical shocks.According to the USPSC, the recall affects more than 200,000 hair dryers.Nearly 200 people have reported the dryers and power cords have either "overheated, melted, exploded or caught fire" while in use. Eighteen people sustained burns while using the product, with one of those being classified as a "severe" burn.The dryers were sold online at Amazon, eBay, Walmart and Groupon, in addition to Xtava's own website. They were sold individually or in a hair care pack that included "treatment products, a flat iron or a diffuser."The affected products include the following SKU numbers on a label on the back: XTV010001, XTV010001N, XTV010002, or XTV010002N.Those with the dryers should contact Xtava directly. Visit their recall website here.Alex Hider is a writer for the E.W. Scripps National Desk. Follow him on Twitter @alexhider. 1082
The Sinclair Broadcast Group acquisition of Tribune Media is dead.Tribune said in a statement Thursday that it has terminated its merger agreement with Sinclair, scuttling a .9 billion deal that would have given the broadcasting group an even broader reach into American living rooms.The breakup of the deal is a stinging defeat for Sinclair, owner of dozens of local television stations. Sinclair has been scrutinized for its ties to the Trump administration.Tribune had been expected to walk away after the deal came under scrutiny from US regulators. The FCC in July referred the merger to an administrative judge hearing, and called into question whether some of Sinclair's proposed divestments were a "sham."Tribune said it will sue Sinclair for breach of contract, arguing Sinclair's negotiations with the US Justice Department and FCC were "unnecessarily aggressive. Sinclair also refused to sell certain stations that would have helped the deal secure regulatory approval, Tribune claims."Our merger cannot be completed within an acceptable timeframe, if ever," said Tribune CEO Peter Kern in a statement.Analysts expect Tribune to seek another buyer.Sinclair did not immediately respond to a request for comment sent outside business hours. 1259