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Trade war fears and a presidential attack on Amazon are rocking Wall Street.The Dow dropped more than 700 points on Monday, and the Nasdaq plunged 3%. The S&P 500 hit its low for the year and was on track for its lowest close since November. The sell-off left all three major indexes in the red for 2018.By the end of the day Monday, the Dow slightly recovered, closing down 458 points for the day.The sell-off on the first day of the second quarter came after President Trump once again attacked Amazon on Twitter. Amazon, one of the biggest drivers of the 2017 market rally, tumbled 5%, wiping out more than billion of its market value.Trump once again accused Amazon of taking advantage of the US Postal Service, and he suggested that Amazon does not pay its fair share of tax.In fact, Amazon pays the same lower rate that the post office charges other bulk shippers, and it collects sales tax in every state that charges it. Amazon does not collect sales tax on purchases made from third-party vendors."You've got the president of the United States attacking a single company over what he considers to be unfair practices," said Ian Winer, head of equities at Wedbush Securities.Amazon wasn't the only tech stock in trouble. Tesla, Netflix and Cisco all dropped by at least 4%. Intel plunged 8% on a?Bloomberg News report that Apple plans to switch to its own chips. Almost every stock in the Nasdaq 100 lost ground.The Nasdaq has plunged more than 10% from its all-time high on March 12."When investors see market leaders suddenly stumble, they become more cautious about the entire group," said Kate Warne, investment strategist at Edward Jones.Wall Street is also fretting about rising trade tensions, especially with China. Beijing responded to Trump's steel and aluminum tariffs on Monday by following through on its threat to impose tariffs on billion of US imports. The tariffs apply to 128 products, ranging from pork and meat to steel pipes.Trump plans to place additional tariffs on about billion worth of Chinese goods — and Beijing has promised to respond.John Toohey, head of equities at USAA, blamed the sell-off on concerns about the China tariffs. "Global trade could slow down, global supply chains could be impacted, and CEOs could be more cautious on capital spending," Toohey said.NAFTA worries are also on the rise after Trump took aim at the trade deal between the United States, Canada and Mexico. Trump on Sunday linked NAFTA to his efforts to build a wall along the border with Mexico."They must stop the big drug and people flows, or I will stop their cash cow, NAFTA. NEED WALL!" Trump tweeted."It's a cause for concern. That mixing of issues is contributing to uncertainty," said Kristina Hooper, chief global market strategist at Invesco.No matter the cause, signs of fear abounded. The VIX volatility index jumped more than 15%. CNNMoney's Fear & Greed Index of market sentiment dropped further into "extreme fear." Crude oil plunged about 3%. Gold, which tends to do well when investors are worried, climbed more than 1%."None of it makes a lot of sense," said Michael Block, chief strategist at Rhino Trading Partners. "I don't know what we learned that was new. Chinese tariffs are not surprising."After spiking last year, the stock market hit extreme turbulence during the first three months of the year as investors worried about tariffs, inflation and tech stocks. The Dow snapped its longest quarterly winning streak in 20 years.Stocks may be volatile, but the backdrop looks bright. Global economic growth is expected to accelerate and corporate profits are likely to surge, thanks in part to Trump's corporate tax cuts."It's unlikely to be the end of the bull market," Warne said. "The underlying fundamentals remain positive." 3823

There’s no end in sight to the coronavirus pandemic, Dr. Anthony Fauci and other top government health experts told Congress on Friday.“While it remains unclear how long the pandemic will last, COVID-19 activity will likely continue for some time,” Fauci, along with Centers for Disease Control and Prevention head Dr. Robert Redfield and Health and Human Services testing czar Adm. Brett Giroir said in prepared testimony for a special House panel investigating the pandemic.At a time when early progress seems to have been lost and uncertainty clouds the nation’s path forward, Fauci, the government’s top infectious disease expert, is calling on lawmakers — and all other Americans — to go back to public health basics such as social distancing and wearing masks.During Friday's hearing, Fauci was asked why Europe appeared to be handling the crisis better than the United States. He explained that the U.S. lockdown wasn't as restrictive and that the country reopened too quickly."We really only functionally shut down about 50 percent in terms of the totality of the country," Fauci said. He added that while Europe dropped down to just a few thousand new cases a day, the U.S. bottomed out at 20,000 new cases a day, which created a difficult baseline with which to work.Fauci also faced a series of questions from Rep. Jim Jordan, R-Ohio, regarding the spread of the virus and ongoing protests against systemic racism. Jordan asked Fauci directly if "protests should be shut down," the way some churches and businesses were earlier this year.Fauci responded by saying that people should be avoiding crowds, no matter the situation."It's not a judgment, it's a public health statement," he said.Fauci also gave encouraging comments regarding the development of a COVID-19 vaccine. He reiterated his hopes that a vaccine could be ready by the end of the year, and said that about 250,000 people had signed up to participate in vaccine trials.The panel, the House Select Subcommittee on the Coronavirus Crisis, remains divided about how to reopen schools and businesses, mirroring divisions among Americans.A rebound of cases across the South and the West has dashed hopes for a quick return to normal life. Problems with the availability and timeliness of testing continue to be reported. And the race for a vaccine, though progressing rapidly, has yet to deliver a breakthrough.Fauci’s public message in recent days has been that Americans can’t afford a devil-may-care attitude toward COVID-19 and need to double down on basic measures such as wearing masks in public, keeping their distance from others and avoiding crowds and indoor spaces such as bars. That’s echoed by Redfield and Giroir, though they are far less prominent.Fauci’s dogged persistence has drawn the ire of some of President Donald Trump’s supporters and prompted a new round of calls for his firing. But the veteran of battles against AIDS and Ebola has stuck to his message, while carefully avoiding open confrontations with the Trump White House.In an interview with The Associated Press earlier this week, Fauci said he was “disturbed” by the flat-out opposition in parts of the country to wearing masks as a public health protective measure.“There are certain fundamentals,” he said, “the staples of what you need to do ... one is universal wearing of masks.”Public health experts say masks help prevent an infected person who has yet to develop symptoms from passing the virus to others. For mask wearers, there’s also some evidence that they can offer a degree of protection from an infected person nearby.Fauci said in his AP interview that he’s concerned because the U.S. has not followed the track of Asian and European nations also hit hard by the coronavirus.Other countries that shut down their economies knocked back uncontrolled spread and settled into a pattern of relatively few new cases, although they continued to experience local outbreaks.The U.S. also knocked back the initial spread, but it never got the background level of new cases quite as low. And the resurgence of COVID-19 in the Sunbelt in recent weeks has driven the number of new daily cases back up into the 60,000-70,000 range. It coincided with economic reopening and a return to social gatherings, particularly among younger adults. Growing numbers of emergency room visits, hospitalizations and deaths have followed as grim consequences.Nearly 4.5 million Americans have been been infected since the start of the pandemic, and more than 150,000 have died, according to figures compiled by Johns Hopkins University.Fauci said there’s evidence the surge across the South may be peaking, but upticks in the Midwest are now a concern.“They’ve really got to jump all over that because if they don’t then you might see the surge we saw in some of the Southern states,” he told the AP.Though Fauci gets push-back from White House officials, other medical experts in the administration are on the same page when it comes to the public health message.Giroir, the testing czar, told reporters Thursday: “I think it’s very important to make sure that we all spread the public health message that we can control all the outbreaks occurring right now.”He said controlling the outbreaks will require people to wear masks, avoid crowded indoor spaces and wash their hands frequently. 5343

Today has been a trying day for our family. We’re thankful to everyone who has reached out with their concerns. Our daughter is in good care at Arnold Palmer Hospital and is doing well. My wife was also treated for her injury and has been released from the hospital. At this time, we ask for privacy as we focus on our daughter’s recovery. 347

There have been 12 Hurricane Irma-related deaths throughout the state of Florida, Alberto C. Moscoso, a spokesman for Florida Division of Emergency Management, said Tuesday evening.As nightfall approached Tuesday, many people from South Carolina to Florida were staying in darkened homes, dealing with fallen trees and blocked roadways, and hoping they could find gas.The situation in the Sunshine State was trying the patience of people who rode out the storm and those who came home to find widespread devastation and access to their neighborhoods limited at times.Photos of Hurricane Irma's destruction?Power outages in Florida affected almost 5 million homes, organizations and businesses, among them gas stations, which need the electricity to keep pumps working.Two days after Irma made landfall on Cudjoe Key, authorities and a few residents were finally able to reach some of the Florida Keys on Tuesday.What they found was devastating: Based on initial estimates, 25% of the houses on the chain of islands have been destroyed, the Federal Emergency Management Agency said Tuesday. Another 65% suffered major damage."Basically, every house in the Keys was impacted some way," FEMA Administrator Brock Long said.It's still not clear how many casualties Irma caused on the Keys.It's a long wait for those sifting through what's left of their homes throughout Florida in the oppressive heat and high humidity -- doing so while they wait for the power, and thus the air conditioning, to come back on.All customers who lost electricity on the eastern side of the state will likely have power restored by the end of this weekend, Florida Power & Light said Tuesday.An FPL official told reporters at a Broward County news conference that of the 790,000 customers in that county who lost power, 330,000 had their electricity restored Tuesday.The company is focusing its efforts first on schools, hospitals and other critical infrastructure. Gas stations and restaurants are next on the plan, the official said.Customers on the west coast of Florida, where Hurricane Irma made its final landfall, will likely have power restored by September 22, the company has said.But residents like William Rose have bigger concerns. Rose still can't reach his family on the Florida Keys, where about a quarter of the islands' houses are annihilated.He's not sure whether his mother, stepdad, grandmother and aunt survived Irma's wrath."I have no idea, but I'm trying to stay positive," Rose said.Before the Keys lost cellphone service, Rose received a text from his mother, who chose not to evacuate."This is terrible. I will never do this again," the text read. "I'm so glad you got out." 2688

Today, we learned of an incredibly disturbing incident that occurred at one of our restaurants in Baltimore, Ouzo Bay. We sincerely apologize to Marcia Grant, her son & everyone impacted by this painful incident. This situation does not represent who or what Atlas stands for. pic.twitter.com/jsofGRLVw1— Atlas Restaurant Group (@AtlasBaltimore) June 23, 2020 371

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