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After eight months of steady gains, stock market volatility has again rocked investors this week, with a global sell-off triggered by the prospect of slower global economic growth and rising bond yields. The S&P 500 fell nearly 7% in six days, bringing the index down to levels last seen in July.When stock markets tremble, the advice from financial advisors is simple: Stick to your investment plan.That’s easier said than done. If your financial house is on fire, you want to fight the flames or flee as surely as if your actual home were ablaze, behavioral finance experts say. To stand back, watch and periodically throw more money on the bonfire is tough even for the most seasoned investor, let alone your average 401(k) holder.“You’d think that a high-net-worth individual is more sophisticated, that they are not going to panic like an investor with ,000 at stake? Not true,” says David Thomas Jr., founder and chief executive officer of Equitas Capital Advisors in New Orleans.Still, Thomas says, “You can be smarter than your emotions, but that’s an acquired skill.”Here are some ways to sidestep the natural emotional triggers that can be costly during the next market correction or crash. 1220
Already burdened by the coronavirus pandemic and a tightened deadline, the Census Bureau must now contend with several natural disasters as wildfires and hurricanes disrupt the final weeks of the nation’s once-a-decade headcount.The fires on the West Coast forced tens of thousands of people to flee homes in California and Oregon before they could be counted, and tens of thousands of others were uncounted in Louisiana communities hit hard last month by Hurricane Laura. Nearly a quarter million more households were uncounted in areas affected this week by Hurricane Sally.The disasters add to the already laborious task of counting of every U.S. resident and increase the risk that the effort will miss people in some parts of the country.“I can’t project if Mother Nature is going to let us finish, but we are going to do the best we can,” said Al Fontenot, associate director of the Census Bureau, who has repeatedly said the bureau is on target to complete the count at the end of the month.The disasters make it challenging or impossible for census takers to visit households that have not yet answered questionnaires. And time is running out, with just two weeks left until the census is scheduled to end on Sept. 30.In major cities in California and Oregon, smoke from nearby wildfires poses a health threat for census takers as they knock on doors.“It’s really smoky, and no one wants to open their doors because of the hazardous air. I gave up yesterday and do not plan to go out today unless it improves,” said a San Francisco census taker, who spoke on the condition of anonymity out of fear that she could lose her job.Officials in San Jose, California, are encouraging residents to respond to census questions online or by phone or mail.“Frankly, it’s not safe to be outside for more than a little bit,” San Jose Mayor Sam Liccardo said. “So, yes, it will affect us. We are going to hustle every other way we possibly can.”If there is an undercount, states affected by the disasters could be shortchanged when some .5 trillion in federal spending is distributed annually to pay for roads, schools, health care and other programs. Since the census also determines how many congressional seats each state gets, states such as California that are on the verge of losing a seat because of declining population could see their political power diluted.Rep. Jimmy Gomez, a Democrat from Los Angeles, said the recent disasters are another reason the deadline for ending the 2020 census should be extended by a month.Because of the pandemic, the Census Bureau pushed back the deadline for finishing the count from the end of July to the end of October. Then the agency announced last month that the deadline would be changed to the end of September after the Republican-controlled Senate failed to pass a Census Bureau request for more time to turn in numbers used for redrawing congressional districts.Some Democrats and activists believe the expedited schedule is politically motivated. A coalition of cities and civil rights groups are suing in federal court in San Jose, seeking an extra month.“We know the shorter the time frame is, the more risk there is to an accurate count, and the more problems can arise,” Gomez said. “This is not usually the time of the year that the Census Bureau is doing the counting.”The San Jose lawsuit contends that the sped-up timetable will cause Latinos, Asian Americans and immigrants to be overlooked. Government attorneys say the Census Bureau will not have enough time to process the data to meet an end-of-the-year deadline if the count does not finish in September.“If you had a longer period, you would expect some people to return home, and you could concentrate on those geographies,” said Thomas Saenz, president and general counsel of the Mexican American Legal Defense and Educational Fund, which is seeking extra time in another lawsuit in Maryland.Census takers headed to evacuation centers to complete the count, and residents will be counted according to where they were on April 1, said Guillermo Gonzalez, a congressional liaison for the Census Bureau.In areas where there is extreme danger, such as parts of Oregon, census field offices had to close offices for several days and home visits were suspended. In some places where census takers cannot go out, they are trying to reach households by phone, according to Census Bureau officials.Fontenot said in court papers in the Maryland case that the natural disasters and other disruptions pose “significant risks” to finishing the count in all states by the deadline.The Census Bureau estimated there were 248,000 uncounted households affected by Hurricane Sally in Alabama and Florida; 34,000 uncounted households affected by Hurricane Laura in Louisiana; close to 80,000 uncounted households in California affected by wildfires; and 17,500 Oregon households also threatened by the flames.The disasters worry the federal judge in the San Jose lawsuit, who is considering whether to extend the count by a month. During a recent hearing, Judge Lucy Koh said some workers at her courthouse had been evacuated and their neighborhoods were destroyed.“Here we’ve been told not to go outside for 28 days because of unsafe air. How are you doing six visits to households when people can’t go outside?” Koh asked government attorneys. “How are we going to count in this reality for us?”___Follow Mike Schneider on Twitter at https://twitter.com/MikeSchneiderAP 5478
ABBEVILLE, La. (AP) — Hurricane Delta sped up one Louisiana couple's wedding by a few days but judging by the smiles on the bride and groom it certainly didn't dampen the affair. Ian and Taylor Gaspard from Abbeville were supposed to get married on Saturday, Oct. 10. But Hurricane Delta had other plans. After watching the hurricane slowly make its way toward Louisiana they swiftly changed gears and held the wedding Thursday with friends and family in attendance. The streets outside were largely deserted as residents finished up last-minute storm preparations or evacuated. The smiling bride said the ceremony was "beautiful."Hurricane Delta made landfall Friday at 6 p.m. CT near Creole, Louisiana, as a category 2 hurricane. 739
A winter storm that caused Thanksgiving travel chaos will bring more high winds and snow Monday as it pushes northeast from the Midwest toward the lower Great Lakes.More than 1,000 flights were already canceled early Monday and more than 10 million people are under a blizzard warning due to the wintry conditions.Kansas Gov. Jeff Colyer issued a state of emergency declaration for the state and officials said road conditions were "treacherous" in some areas."We strongly recommend that you postpone travel plans, if possible; however, if you must be on the road, make sure your vehicle's emergency kit is stocked, your gas tank is full and your cell phone and charger are with you and someone knows your travel plans," the declaration reads.Kansas City International Airport was closed to flights arriving on the airfield due to low visibility caused by weather conditions but reopened Sunday evening, according to its Twitter account.More than 1,700 US flights were canceled Sunday, with delays to 5,091 flights, according to flight-tracking website FlightAware. Most were at Kansas City and Chicago's O'Hare International and Midway airports.Multiple roads were also closed because of whiteout conditions, according to the KanDrive website. The Kansas Department of Transportation tweeted late Sunday that Interstate 70 had reopened statewide but that there could be morning delays, with ice and wind blowing snow over just cleared highways.There were reports of snow as high as 16 inches in parts of Iowa, with other areas reporting 3 inches to 10 inches. Baileyville, Kansas, notched 10 inches and 7 inches fell in Salina, Kansas.The weather system was forecast to move into the Great Lakes region before hitting the Northeast on Monday, according to CNN meteorologist Haley Brink.More than 10 million people are under a blizzard warning.Nearly 20 million people were under a high-wind advisory. This includes residents of Kansas and some in parts of Missouri, Nebraska and Iowa. Wind reports from the Central Plains clocked wind gusts at tropical storm force from 50 to 75 mph from Nebraska to Texas.Fort Hays State University student Brooks Barber captured the blizzard conditions in Hays, Kansas, on Sunday morning. Streets were dark, and many were without power, he said.The National Weather Service Quad Cities office posted a video of a weather balloon being released in a blizzard.Whiteout conditions brought low visibility to the small town of Chariton, Iowa, which is an hour south of Des Moines.By Monday morning, many areas from the Plains to the Midwest will have seen 6 to 10 inches of snow, CNN meteorologist Michael Guy said. As the low pressure passes, areas behind the system will continue to see more snow through Monday evening with up to a foot possible before the skies clear.The storm is moving to the lower Great Lakes, making its way toward New England by Tuesday. Parts of Michigan, the eastern shores of Lake Erie, as well Maine could see up to a foot or more of snow before the storm exits the US by Wednesday morning, Guy said.The major metropolitan areas in the Northeast will see wind and rain Monday into Tuesday. Wind gusts from 30 mph to 45 mph are possible as the system passes and temperatures drop through midweek. 3264
After the rapid roll out in the U.K. of Pfizer and BioNtech’s COVID-19 vaccine, Britain’s Medical and Healthcare Products Regulatory Agency is warning people who have severe allergies, like those who have to carry around an adrenaline shot, to refrain from getting the vaccine for now.“Two individuals seemed to have a severe allergic reaction,” Dr. William Moss said.Dr. Moss is the executive director of International Vaccine Access Center at Johns Hopkins Bloomberg School of Public Health. He says we need to better understand what those two people had an allergic reaction to.“This isn’t kind of completely out of the blue," Dr. Moss said. "These kinds of things are rare events, but they sometimes occur, and it’s usually to some kind of component or chemical in the vaccine that the individual’s immune system is responding to in a very abnormal way, creating this very intense allergic reaction.”Even though it’s rare, Dr. Moss says it’s important to provide clarity on issues like this so people can trust the information they’re getting is reliable and true. Otherwise, there’s room for misinformation to spread. Many myths have already been circulating online about the vaccine.Myths include things like Dr. Anthony Fauci will personally profit from a COVID-19 vaccine, or government food stamps will be denied to those who refuse COVID-19 vaccines, or the mRNA vaccines being developed for COVID-19 will alter human DNA.“The MRNA vaccine, that doesn’t change our DNA in any way," Dr. Moss said. "These are not genetically altering vaccines. That Messenger RNA stays in the cytoplasm. It’s basically just a code for our bodies to make the spike protein of the SARS coronavirus-2 and then induce our immune response.”One internet resource that can help you discern which sources offer actual facts is NewsGuard. The company has a team of journalists who review and rank the credibility of sources to help people know whether or not they can trust the information is true.NewsGuard Health Editor John Gregory says each myth has a tiny grain of truth that is taken out of context and exaggerated. For example, another popular myth is that the COVID-19 vaccine will use microchip surveillance technology created by Bill Gates-funded research.“Bill Gates did fund research into what is not a microchip, but what was supposed to be a detectable tattoo that would help track vaccines in the third world where there’s not robust medical records so you could just scan something, and a doctor would be able to tell ‘ok this child got this vaccine,’" Gregory said. "It’s not a tracking device because you can’t track it unless you’re in direct contact with the person, and it also had nothing to do with the pandemic.”Dr. Moss says the microchip myth sounds like a sci-fi movie."These are vaccines," Dr. Moss said. "These are biological products that are designed to produce an immune response against the SARS-Coronavirus-2 so that individuals who are exposed to the virus either don’t get infected – that would be ideal – or at least are protected from developing severe disease, hospitalization and death.”Living in a society where we’re constantly bombarded with new information right at our fingertips, how are we supposed to know who we can trust?“The best thing people can do is know more about the sources of information that they are absorbing about the vaccine," Gegory said. "What their history and what their agenda may be when it comes to previous disease outbreaks and previous vaccines.”Dr. Moss says even though it’s been done in a quick manner, it’s critical people understand these vaccines have gone through a rigorous scientific process to be approved.“Vaccines are going to be key, a key tool in our toolbox to getting out of this pandemic.” 3771