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The stock market had its worst day in a month as virus cases surge and help for the economy from Washington remains nowhere in sight. The S&P 500 fell 1.9% Monday, deepening its losses from last week. Stocks of companies that need the virus to abate and the economy to return to normal had some of the biggest losses. Cruise lines and airlines fell sharply. Energy stocks also dropped in tandem with crude oil prices. In another sign of caution, Treasury yields pulled back after touching their highest level since June last week. Overseas markets also fell.The drop in stock value came as coronavirus cases reached peak levels in the US over the weekend, while White House chief of staff Mark Meadows proclaimed that the US would be unable to contain the spread of the virus. 788
The Trump administration is planning to expand an operation that would send federal law enforcement agents to Detroit, Cleveland and Milwaukee in the coming weeks, the White House announced Wednesday night.According to a recap of the day's events on the White House website, President Donald Trump and the Department of Justice plan to expand the program into the three Midwestern cities in the next three weeks.Trump and Attorney General William Barr announced Wednesday that they would send federal agents to Chicago and Albuquerque to combat rising crime under the "law and order" push.“In recent weeks there has been a radical movement to defund, dismantle and dissolve our police department,” Trump said Wednesday at a White House event, blaming the movement for “a shocking explosion of shootings, killings, murders and heinous crimes of violence.”“This bloodshed must end,” he said. “This bloodshed will end.”Detroit Mayor Mike Duggan, Police Chief James Craig and Michigan Gov. Gretchen Whitmer spoke out earlier this week after Trump said they were looking into the plan to bring agents to Detroit."There could be no possible justification for such an action. The Detroit Police Department has had the support of the Detroit community in making sure our City did not have a single store looted or a single fire started during the protests," Duggan and Craig said in a joint statement. "Unlike nearly every other major city in the country, the Detroit Police Department never requested assistance from the National Guard - we handled our issues as a community. We definitely have no need for any federal presence being sent in now.""It is deeply disturbing that President Trump is once again choosing to spread hateful rhetoric and attempting to suppress the voices of those he doesn't agree with," Whitmer said. "Quite frankly, the president doesn't know the first thing about Detroit. If he did, he would know that for nearly two months now, Detroiters have gathered to peacefully protest the systemic racism and discrimination that Black Americans face every day. There is no reason for the president to send federal troops into a city where people are demanding change peacefully and respectfully."Federal officers are already in Portland, Oregon and have clashed with protesters over the previous few days."Portland is a very different place than Chicago, but Chicago should be calling us, and so should Philadelphia and Detroit and others to go in and really help them," he said. "Because when you're losing many people a weekend... you see the same numbers as I do. When you're losing these people they should call us and they should say come on in. It's incredible to me, but they're not doing it. At some point they will; at some point we may have no other choice but to go in."This story was originally published by Max White at WXYZ. 2860
The U.S. has now recorded more than 3 million new cases of COVID-19 in the month of November alone, according to a database kept by Johns Hopkins University.According to Johns Hopkins, the U.S. has recorded at least 3.1 million cases of COVID-19 since Nov. 1 — more than 25% of all the cases the country has seen since the pandemic began.The spike in cases has led to a concerning jump in virus-related hospitalizations across the country. According to the COVID Tracking Project, more than 83,000 people across the country are currently battling the coronavirus in a hospital — the most the country has seen since the pandemic began. The COVID Tracking Project reports that while the entire country is seeing a spike in hospitalizations, the Midwest and South have been hit particularly hard — 69% of all COVID-19 hospitalizations across the country have occurred in those two regions.The spike has led to a concerning increase in hospital resources. In some rural hospitals in the Upper Midwest, there aren't beds to spare.The COVID Tracking Project also reports that there has been a significant uptick in deaths since the start of November. Since Oct. 31, the 7-day average of daily deaths has increase from 810 to 1,470. The current rate of deaths per day hasn't been seen in the U.S. since mid-May. The concerning spike occurs as much of the country sees the weather turn colder ahead of winter months, and comes as Americans prepare to celebrate the holiday season — something health officials warn could further facilitate the spread of the virus. The CDC has recommended that Americans not travel to celebrate Thanksgiving with loved ones and recommends against hosting large gatherings this year.It also comes as several drug companies, including AstraZeneca, Moderna and Pfizer have all reported encouraging results from their COVID-19 vaccine trials. While the companies are all pre-producing millions of doses of the drugs prior to authorizaiton, health experts say they likely won't be widely available until spring 2021. 2049
The U.S. will pay more than billion for 100 million doses of a potential Covid-19 vaccine manufactured by Johnson & Johnson.The deal is one of several large agreements between the government and pharmaceutical companies as part of Operation Warp Speed, aimed at creating, testing, manufacturing and distributing a Covid-19 vaccine quickly.The Trump administration’s deal with Johnson & Johnson, announced Wednesday, allows for the purchase of an additional 200 million doses.Johnson & Johnson’s vaccine, developed by subsidiary Janssen Pharmaceutical Companies, has shown positive preclinical results. Testing of their vaccine is currently underway with human trials in the United States and Belgium.The Johnson & Johnson vaccine testing is reportedly behind some of the more advanced-stage potential vaccines, like those from Moderna, Pfizer and AstraZeneca, which have begun phase three human trials.“We greatly appreciate the U.S. government’s confidence in, and support for, our R&D platform and efforts and the scalability of our vaccine technology. We are scaling up production in the U.S. and worldwide to deliver a SARS-CoV-2 vaccine for emergency use,” said Paul Stoffels, M.D., Vice Chairman of the Executive Committee and Chief Scientific Officer, Johnson & Johnson in a statement.The company says they are committed to global access to the vaccine following approvals, and has a goal of supplying 1 billion doses globally through the end of 2021. 1493
The Sikh community is speaking out after a Sikh Canadian minister was asked to take off his turban while going through a TSA checkpoint at Detroit Metro Airport.The incident happened in April 2017. Navdeep Bains, Canada’s Minister of Innovation, Science and Economic Development, went through the TSA checkpoint once without any issues but was asked to go through additional screenings because of his turban."Once they realized my position, who I was, I was ultimately allowed to fly but for me this is an issue that speaks for discrimination and discrimination happens with many people," Bains said. The agency is now issuing a statement and the U.S. government is apologizing to Canada.TSA responded to the incident saying in part: 767