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Trade war fears wiped more than 1,100 points off the Dow in just two days. It was Wall Street's worst week in more than two years.Investors are increasingly worried that President Trump's crackdown on China will trigger a fierce response that darkens the otherwise bright economic outlook.The Dow dropped 425 points, or 1.8%, on Friday, sinking back into a "correction" — a decline of 10% from the all-time high in January. The Dow finished at its lowest point since November.All three major indexes took their biggest weekly tumbles since January 2016.The market failed to stage a rebound from Thursday's plunge, which erased 734 points from the Dow.China vowed on Thursday that it would fight a potential trade war "until the end.""We have this general freak-out. We don't know the next shoe to drop on trade," said Michael Block, chief strategist at Rhino Trading Partners.Investors were further rattled when China's ambassador to the United States signaled that China could ease purchases of US bonds in response to Trump's tariffs. "We are looking at all options," Ambassador Cui Tiankai told Bloomberg News.China is America's biggest creditor, with more than trillion of Treasury bonds."We've been told for our entire careers that trade wars made the Great Depression worse. And we believe it," said Bruce McCain, chief investment strategist at Key Private Bank.Related: Trade fears add to concern of a downturnAsian markets were rocked overnight after China vowed not to back down in a potential trade war with the United States. Japan's Nikkei 225 plummeted 4.5%, and the Hang Seng in Hong Kong lost 2.5%.On Thursday, the market sold off after Trump announced plans to impose tariffs on about billion of Chinese imports to retaliate for theft of intellectual property.China said hours later that it "is not afraid of and will not recoil from a trade war." Officials in China detailed a plan to retaliate to Trump's aluminum and steel tariffs by imposing their own tariffs on about billion worth of imports of US goods.Trump, who often uses the stock market as a barometer for his success, shrugged off the market turmoil."I think the stock market is going to be great," he said Friday at the White House after a reporter asked about the sell-off. "The stock market is way up. When I came into office, the stock market was from a different planet."Despite the recent struggles, the Dow remains up about 30% since Trump's election.Related: China: We would fight a trade war 'to the end'The worry is that a tit-for-tat escalation between the two largest economies in the world will ruin the solid economic backdrop. Investors had been banking on strong growth this year, but a slowdown in trade and dented business and consumer confidence could change that outlook drastically.Barclays warned in a report that a trade war would drown out the benefits of Trump's tax cuts, which helped power Wall Street's euphoric rally."The administration is moving forcefully into the anti-trade portion of its policy agenda," Barclays economist Michael Gapen wrote in a report on Friday.But it's too early to assess the impact. Bullish investors hope that the administration will soften its tough stance with China, similar to how tariffs on steel and aluminum imports were later scaled back significantly."The threat of a misstep remains high," Raymond James Washington policy analyst Ed Mills wrote in a report, but there is an expectation that "these actions will be watered down or mitigated" in the coming weeks.Key Bank's McCain thinks it's more likely the market is going through a correction than entering a bear market. He pointed to robust corporate profits and the strong economy, which enjoyed robust job growth in February."If anything, a few weeks ago we worried about the economy overheating and inflation picking up," McCain said.The-CNN-Wire 3867

Tijuana, B.C. (KGTV) — As Christmas approaches, decorations are up around Tijuana but much of the city has shut down. According to ABC 10News’ media partner Televisa, the state of Baja California has had almost 27,000 COVID-19 cases and nearly 5,000 deaths since the start of the pandemic.For comparison, San Diego County's had startling 97,549 cases but far fewer deaths. As of Thursday, 1,103 deaths had been reported.On Thursday morning, ABC 10News spoke to Televisa anchor Estephania Báez about how hospital capacities across the border are maxed out, pulling the city out of its less restrictive orange tier and back into its most restrictive red tier. That hasn’t happened since the summer.“The difference between now and then is that now people don't have fear with COVID-19 here and [people have] to go to work so they prefer to [become] positive rather than to lose a day of money,” she added.Baez said there's concern over both apathies to wearing masks and resistance to any news of a vaccine. “They don't even want to get vaccinated. We have heard in several places that people are afraid and they don't trust even the authorities,” she told ABC 10News.Baja California's red tier restrictions are in place through at least Dec. 20, meaning widespread closures. “That includes schools, gyms, spas, museums, pools, movie theaters, churches, and amusement parks,” said Baez. Restaurants and hotels can operate at a very limited capacity.Televisa also reports that the high cost of testing and limited locations to get testing done continues to be a deterrent for many people. 1592

Trade war fears wiped more than 1,100 points off the Dow in just two days. It was Wall Street's worst week in more than two years.Investors are increasingly worried that President Trump's crackdown on China will trigger a fierce response that darkens the otherwise bright economic outlook.The Dow dropped 425 points, or 1.8%, on Friday, sinking back into a "correction" — a decline of 10% from the all-time high in January. The Dow finished at its lowest point since November.All three major indexes took their biggest weekly tumbles since January 2016.The market failed to stage a rebound from Thursday's plunge, which erased 734 points from the Dow.China vowed on Thursday that it would fight a potential trade war "until the end.""We have this general freak-out. We don't know the next shoe to drop on trade," said Michael Block, chief strategist at Rhino Trading Partners.Investors were further rattled when China's ambassador to the United States signaled that China could ease purchases of US bonds in response to Trump's tariffs. "We are looking at all options," Ambassador Cui Tiankai told Bloomberg News.China is America's biggest creditor, with more than trillion of Treasury bonds."We've been told for our entire careers that trade wars made the Great Depression worse. And we believe it," said Bruce McCain, chief investment strategist at Key Private Bank.Related: Trade fears add to concern of a downturnAsian markets were rocked overnight after China vowed not to back down in a potential trade war with the United States. Japan's Nikkei 225 plummeted 4.5%, and the Hang Seng in Hong Kong lost 2.5%.On Thursday, the market sold off after Trump announced plans to impose tariffs on about billion of Chinese imports to retaliate for theft of intellectual property.China said hours later that it "is not afraid of and will not recoil from a trade war." Officials in China detailed a plan to retaliate to Trump's aluminum and steel tariffs by imposing their own tariffs on about billion worth of imports of US goods.Trump, who often uses the stock market as a barometer for his success, shrugged off the market turmoil."I think the stock market is going to be great," he said Friday at the White House after a reporter asked about the sell-off. "The stock market is way up. When I came into office, the stock market was from a different planet."Despite the recent struggles, the Dow remains up about 30% since Trump's election.Related: China: We would fight a trade war 'to the end'The worry is that a tit-for-tat escalation between the two largest economies in the world will ruin the solid economic backdrop. Investors had been banking on strong growth this year, but a slowdown in trade and dented business and consumer confidence could change that outlook drastically.Barclays warned in a report that a trade war would drown out the benefits of Trump's tax cuts, which helped power Wall Street's euphoric rally."The administration is moving forcefully into the anti-trade portion of its policy agenda," Barclays economist Michael Gapen wrote in a report on Friday.But it's too early to assess the impact. Bullish investors hope that the administration will soften its tough stance with China, similar to how tariffs on steel and aluminum imports were later scaled back significantly."The threat of a misstep remains high," Raymond James Washington policy analyst Ed Mills wrote in a report, but there is an expectation that "these actions will be watered down or mitigated" in the coming weeks.Key Bank's McCain thinks it's more likely the market is going through a correction than entering a bear market. He pointed to robust corporate profits and the strong economy, which enjoyed robust job growth in February."If anything, a few weeks ago we worried about the economy overheating and inflation picking up," McCain said.The-CNN-Wire 3867

To contact Team 10 Investigations, email: Team10@10News.comESCONDIDO (KGTV)- A former Home Depot employee says he blew the whistle on serious violations at the store in Escondido, but he was the one who paid the price.James Girsch has worked at Home Depot since 2005, starting as a sales associate. In 2011, he moved to the Escondido location on East Valley Parkway. He initially enjoyed his time working there."[I liked] the customer service interaction, solving the customer problems and issues, and of course, developing employees," Girsch said. In 2014, he became supervisor for the paint department. According to his lawsuit, he noticed what he believed to be "unlawful activities concerning hazardous waste disposal" at the store where he worked."They were literally dumping hazmat down the garbage containers that was going to the landfills," Girsch said. He said he filed a complaint with the Environmental Protection Agency in late 2014 and also had numerous conversations with investigators about Home Depot violations. "I reported what I felt was illegal," he said. After that, he claimed retaliation began. He was accused of safety violations and according to his lawsuit, "repeatedly denied promotions and targeted for discipline.""I ran a five million dollar department, which was the paint department, and I was subsequently in 2017 demoted to the tool rental," Girsch said.Home Depot was fined millions in March 2018 for hazardous materials and customer privacy violations. An investigation between the Attorney General's office and several prosecutors' offices, including San Diego, resulted in a .8 million dollar settlement. The San Diego County District Attorney's Office could not reveal which local Home Depot locations were investigated, but did say all the ones inspected in the county revealed unlawful hazardous waste disposal."You will not silence my voice," Girsch said. "[Home Depot knows] the issues. They've ignored time after time, any attempts to resolve the issues."A Home Depot spokesperson told Team 10: "We disagree with his claims, which we'll address in the proper form." Regarding Girsch's termination, she said his departure was unrelated to the lawsuit." 2208

Tough day for us at Twitter. We all feel terrible this happened.We’re diagnosing and will share everything we can when we have a more complete understanding of exactly what happened. ?? to our teammates working hard to make this right.— jack (@jack) July 16, 2020 271

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