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The stock market is still sinking but the selling frenzy has eased just a bit.The Dow opened down about 100 points on Thursday morning, rebounding from sharp overnight losses. The Nasdaq started positive before slipping back into the red. The S&P 500 lost about 0.6%.Wall Street is attempting to recover from Wednesday's plunge, which wiped 832 points off the Dow. The Nasdaq in particular has gotten rocked in recent days. Investors have bolted from the index, which contains many tech stocks, because they are concerned about holding some of the market's riskiest stocks in a downturn. A proxy for the tech sector had its sharpest plunge in seven years on Wednesday.The S&P 500 was on pace for its sixth-straight decline, something that hasn't happened since just before President Donald Trump's election nearly two years ago. And the Nasdaq has already plunged 8% this month."Halloween started early this month for investors," Ed Yardeni, president of investment advisory firm Yardeni Research, wrote to clients.Concerns about inflation were eased a bit by a report released on Thursday that showed consumer prices rose in September less than feared.Still, tech stocks including Amazon and Apple lost ground in early trading. Square (SQ) slumped 6% after announcing the departure of its chief financial officer. But other tech stocks showed signs of life. Netflix and Twitter were trading flat to slightly higher.Stocks have turned sharply south because investors are increasingly 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. America's increasing debt load, a trade war with China and a slowing global economy have also unnerved investors.Wednesday's "rout has shaken investor confidence," Nicholas Colas, co-founder of DataTrek Research, wrote to clients. "That will take time to rebuild."The Dow plunged 832 points, or 3.2%, on Wednesday. Tech stocks took a beating, sending the Nasdaq tumbling 4% — its worst day since the Brexit referendum of June 2016.That dragged down stock indexes in the United Kingdom, Germany and France on Thursday, all of which fell more than 1%. Benchmark indexes in Shanghai and Tokyo closed down 5.2% and almost 4%, respectively. Hong Kong's market was down over 3%.The S&P 500's 3% plunge on Wednesday was rare. It's only happened in 0.6% of all trading days since 1952, according to Bespoke Investment Group.The good news is that the market often springs back to life after such a deep sell-off. Bargain hunters scoop up beaten-down stocks and calmer heads prevail. On average, the S&P 500 has gained 0.4% the day after a 3% slide, Bespoke said.That's what happened in February after the S&P 500 twice suffered 3% drops caused by fears about rising bond yields. Both sell-offs were followed by rebounds of more than 1% the next day.But Yardeni is optimistic the market will rebound because corporate profits are robust and no recession is in sight."We remain bullish on the outlook for earnings, and expect the market to recover and make new highs going into next year," Yardeni wrote.The-CNN-Wire 3435

The World Series starts Tuesday, which means a player with either the Tampa Bay Rays or the Los Angeles Dodgers could help Americans score free tacos from Taco Bell.For the ninth year in a row, Taco Bell announced they are bringing back its "Steal a Base, Steal a Taco" incentive, which means rewards members can score free tacos if a player steals a base in the World Series.And this year, fans will have the opportunity to claim a free Doritos Locos taco hours after the first base is stolen through a code on the Taco Bell app.“Through a season and a year like no other, we are proud to bring back a promotion that fans can always count on and are thrilled to partner with the league again to provide free tacos for all of America – no matter what team you root for,” said Nikki Lawson, Taco Bell’s Chief Global Brand Officer said in a news release.The taco usually sells for .89, and new members must create an account on the app by 8 p.m. ET on Oct. 20. 968

The United States State Department has lifted a worldwide Level 4 travel advisory which had been in place since the spring amid the spread of the coronavirus.A Level 4 advisory is the highest alert level at the State Department, which warns travelers of life-threatening risks.The State Department still has a number of Level 4 advisories across the globe, including neighboring Mexico.The change in status, however, might not have much impact on travelers as many countries have placed strict limits on non-essential travel from the United States. And with the United States still leading the world in coronavirus cases and deaths, Americans ability to travel internationally is expected to be limited for months to come. 730

The Senate has passed its long-stalled legislation that would overhaul how sexual harassment complaints are made and handled on Capitol Hill and would hold members of Congress personally responsible for paying such settlements out of their own pockets.The legislation moved forward following a deal reached by Missouri Republican Sen. Roy Blunt and Minnesota Democratic Sen. Amy Klobuchar, and praised by leaders of both parties in the Senate.The bill now goes back to the House of Representatives, which passed its version in February and where the expectation is that there will be a conference committee to work out the differences between the two bills after Congress returns from its weeklong Memorial Day recess.The differences between the House's and Senate's versions of the legislation include the language used in describing when a member would be required to pay for settlements -- and when they would not -- and the reporting of settlements.California Republican Rep. Jackie Speier, one of the chief negotiators of the House's bill said that there is "disappointment" in Senate's bill among some members on both sides of the aisle in the House."We will go to conference and hopefully we can iron out some of those differences," Speier said Thursday on CNN's "New Day."There also is criticism of the Senate's bill among some outside advocacy groups, which have written to Senate Majority Leader Mitch McConnell and Senate Minority Chuck Schumer expressing concern that the House bill became essentially too watered down in the Senate's negotiations."This bill contains numerous provisions that are contrary to key principles we've previously articulated, falls short of an acceptable compromise, and may have unintended negative consequences," says a letter sent to Senate leaders signed by the American Civil Liberties Union, Equal Pay Today, The Leadership Conference on Civil and Human Rights National Women's Law Center and Public Citizen.Additionally, these groups say they see "significant differences" between the House and Senate bills and are "deeply concerned" that "neither senators nor key stakeholders have been given adequate time to fully vet the bill."Congressional sources tell CNN there are numerous areas that the discussion will center on when the two sides meet to work out a compromise.Among the chief areas of concern: The provision for members being held personally responsible in the Senate bill states that they have to pay out of pocket only for sexual harassment, not for any awards that may be ordered for sex discrimination or any other kind of discrimination. Some fear that could provide a loophole for members who are accused of harassment to settle with a victim for sex discrimination, knowing that they won't be required to pay the settlement and it will instead come out of a US Treasury fund.Additionally, there is concern that in the Senate's legislation would empower and involve the Ethics Committee more so than the House's. The Senate version would give the chair and ranking member of the committee the authority to overrule settlement repayments. The House bill would create a third-party investigatory process instead. 3183

The travel industry is still reeling from the effects of the COVID-19 pandemic as millions of people have lost their travel-related jobs. Now, Congress is debating a bill that would provide thousands of dollars in travel tax credits to families."This could be used for airfare, for hotel stays, for meals and attractions within a certain distance away from home, let's say." says Tori Emerson Barnes with the U.S. Travel Association.Modeled after the homebuyer tax credit that was created in the recession of 2008, Barnes says, if passed, this financial incentive would be crucial toward putting the travel industry and the millions of people it employs back to work."Post 9/11, it took about 18 months for the travel industry to come back. From an economic standpoint, this is nine times worse than 9/11, so really what we have to do is get people moving again to get the economy back," says Barnes.The travel tax credit would pay back families 50% of their travel expenses up to ,000. The refund would be for travel expenses made between the time of the bill's enactment and the end of 2021."We know that we need to get people traveling again in a health and safe way so we think that establishing an individual travel tax credit that can help motivate folks and push them a little bit into the market will go a long way. We’ve been working with members of Congress on both sides of the aisle and administration," says Barnes.Chris Gahl of Visit Indy says the travel tax credit would be huge for businesses in Indianapolis."The tourism eco-system is made up of lots of different businesses. Most consumers would think of hotels, airlines, museums, restaurants and bars. But there are also companies that clean linens for the hotels, flower companies," says Gahl.As for easing travelers concerns amid COVID-19, Gahl says, "From Indiana’s perspective, from the capital of Indianapolis, we have taken great strides in putting people first and foremost and the health of our residents and subsequently our visitors.""We all believe that there needs to be appropriate sanitation, there needs to be appropriate barriers in place and we support the use of masks. You know, we think a phased and layered approach is critical to the health and safety of the American public but we don’t think you have to pick between the public health or the economic health of the country," says Barnes.In the Indianapolis area, Visit Indy says more than 83,000 people rely on tourism for their jobs."This goes well beyond the glossiness of hotels and restaurants and wanting a getaway. There's real people, real Americans who are working and depending on tourism for a paycheck," says Gahl.The US Travel Association hopes Congress votes on the bill by early August. 2754