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The US stock market sank deeper into the red following sluggish economic reports on Monday and bad news from a couple of blue-chip giants.The Dow fell 600 points by late afternoon, or 2.6%. The S&P 500 lost 2.6% and retreated to its lowest level of the year. And the Nasdaq joined the Dow & S&P 500 in negative territory for 2018. All three indexes have plunged about 7% so far this December.The Dow closed down 507 points for the day.And the Russell 2000 index of small-cap stocks tumbled into a bear market, marking a 20% decline from the record highs notched in late August.A weaker reading from the New York Federal Reserve about manufacturing in the Empire State and a drop in confidence from the nation's homebuilders weighed on the markets."Investors are zeroing in on this idea of slower growth for 2019," said Michael Arone, chief investment strategist at State Street Global Advisors. "More people are worried about a recession in late 2019 or 2020."The political noise in Washington isn't helping either. President Trump, in a tweet Monday morning, repeated his criticism of the Federal Reserve for its recent rate hikes. The Fed meets Wednesday and is widely expected to raise rates again.But Trump tweeted that "it is incredible that with a very strong dollar and virtually no inflation, the outside world blowing up around us, Paris is burning and China way down, the Fed is even considering yet another interest rate hike. Take the Victory!"The Fed is supposed to be politically independent. Any evidence that it might be swayed by attacks from Trump could unnerve the markets."If the Fed doesn't raise rates it will look like it's succumbing to the bullying of Trump's tweets," Arone said.But Nancy Perez, managing director at Boston Private, said the Fed is likely to slow down its pace of rate hikes in 2019 simply because the economy is slowing, not because of pressure from Trump.Perez added that the recent market turmoil is justified because investors are readjusting to this fact."We have been getting a bump in profit margins due to lower taxes but the earnings growth itself is not sustainable," Perez said. "Projections will come down and volatility will continue." 2247
The US Food and Drug Administration has again expanded the list of recalled medications that contain valsartan, used as a component in a set of drugs to treat heart failure and blood pressure.The expanded list was posted Monday.The FDA announced an initial recall in July after lab tests revealed that some drugs could have been tainted with a substance that may lead to a higher risk of cancer. The drug had been recalled in 22 other countries.The expanded recall includes some drugs that contain valsartan and hydrochlorothisazide, but not all drugs containing valsartan are affected. 594

The Supreme Court says Justice Ruth Bader Ginsburg has been discharged from a hospital in New York City and has returned home. The court says Ginsburg, 87, is doing well, two days after undergoing a minimally invasive procedure on Wednesday to “revise a bile duct stent” at Memorial Sloan Kettering Cancer Center. The stent had originally been placed last August, when Ginsburg was treated for a cancerous tumor on her pancreas. Ginsburg announced earlier this month that she is receiving chemotherapy for a recurrence of cancer.Stent revisions are common occurrences and the procedure, performed using endoscopy and medical imaging guidance, was done to minimize the risk of future infection, her doctors said, according to a statement.In May, Ginsburg was hospitalized for treatment for a benign gallbladder condition.Ginsburg has also beaten cancer four times after suffering from pancreatic cancer last year. 921
The suspect in the deadly terror attack in New York wasn't only a driver for Uber. He also worked for its rival Lyft.Lyft said late Wednesday that Sayfullo Saipov drove for its ride-hailing app in the past but that it deactivated his account as soon as he was identified as a suspect in the attack.Saipov, a 29-year-old from Uzbekistan who was living in New Jersey, has been charged with federal terrorism offenses in connection with Tuesday's attack in Manhattan in which eight people were killed.Uber said Tuesday that Saipov started driving for it in New Jersey just over six months ago, making more than 1,400 trips. It also banned him from its platform after the attack.Lyft didn't provide details on how long Saipov drove for its app or how many trips he made. It's not unusual for drivers to work for both companies.Saipov's case is drawing renewed attention to the background checks that ride-hailing companies carry out on their drivers.Records show Saipov received multiple traffic citations in the past, including failure to equip a motor vehicle carrier with or maintain a required brake system.Both Uber and Lyft said they hadn't come across any complaints about Saipov's safety as a driver for them.New Jersey rules for ride-hailing services like Uber and Lyft require the companies to conduct criminal background checks, which are usually outsourced to specialist firms. Convictions for crimes like reckless driving automatically disqualify a driver.Uber applies different criteria for background checks depending on state regulations. In general, drivers cannot have more than three minor moving violations, such as speeding tickets, in the past three years.Lyft's website says potential drivers are screened for "driving incidents" but doesn't specify what would disqualify them.Both Uber and Lyft say they are in contact with law enforcement authorities over the New York attack."Our thoughts are with those affected by this tragic act," Lyft said. 1999
Mark Ostrowski with Check Point Software.The security company says coronavirus-related cyber attacks are down since the summer, but the number of malicious websites related to COVID-19 vaccines is up.The warnings were reiterated Wednesday by French-based international policing agency Interpol, which issued a global alert that organized crime groups may be attempting to sell stolen vaccines or set up scams with the promise of vaccines. So-called "threat actors" are sending out vaccine-related email phishing campaigns. A recent one had the email subject: "Urgent information letter: COVID-19 new approved vaccines."“So, what I would really warn folks is that if you receive an email that contains a vaccine sort of sensational type of subject in the email itself, and then there's an attachment, and the attachment is either an executable or office document, those are things that you want to watch out for,” said Ostrowski.People who opened that document in the phishing email actually had a way to steal usernames and passwords.You should only get your vaccine-related information from trusted news or government websites, not your inbox.“This is just the next thing, right. So, every time there's a new announcement, that specific subject, that specific entity, that's tied to say a vaccine is what's going to become the next target, right. So, these threat actors are very, very closely monitoring the global pandemic and then using those moments to quickly make and adjust their attack methods.” 1806
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