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The Senate is expected to vote on an economic relief package this week and while it has little chance of passing the House, it is sending a very clear message to airlines: help may not be coming. United Airlines and American Airlines have both threatened thousands of their employees with layoffs if government assistance doesn't come before October 1. October 1 is the first date airlines that took bailout money from earlier this year can layoff workers under the terms set by Congress. United is looking at cutting around 16,000 employees while American is slashing around 19,000 workers. Southwest and Delta, notably, are not laying off workers after offering buyouts to many workers. For weeks, airlines and unions were holding out hope lawmakers would pass a bill after returning from their August recess. The Association of Flight Attendants took to Capitol Hill Wednesday to demand action. 906

The wild ride on Wall Street just got crazier.The Dow dropped about 345 points, or 1.4%, on Tuesday, completely reversing a 244-point gain from early in the day. The selloff followed Monday's 670-point spike.The Nasdaq plunged nearly 3% -- wiping out nearly all of Monday's huge gains for the tech sector. The Nasdaq is now up just 1.5% on the year.Facebook, Twitter, Tesla and Nvidia all fell sharply. Netflix tumbled 6%, its biggest decline in two years."We started bleeding when large tech got hit hard," said Art Hogan, chief market strategist at B. Riley B.Investors poured money into bonds Tuesday. The 10-year Treasury yield slipped to 2.77%, the lowest since early February.But the sinking yields also narrowed the closely-watched gap between short and long-term rates, known as the yield curve."That has persistently been a signal of an economic slowdown," said Hogan. "I don't think that's the case here."A "flattening" yield curve also makes it harder for banks to make money on the difference between what they lend out and pay interest on. Bank of America, Wells Fargo and PNC fell more than 2% apiece.The-CNN-Wire 1135

The US House of Representatives will vote on whether to legalize marijuana across the country in September. This would be the first time a chamber of Congress has ever voted on removing marijuana from the Controlled Substances Act.Cannabis was included as what is called a Schedule I drug under the Controlled Substances Act in 1970. Schedule I drugs are defined as having a high potential for abuse and no medical benefit. Other Schedule I drugs include heroin, LSD, ecstasy and peyote.On Friday, representatives were informed the MORE Act will come up for a vote in the September work period of the House.The MORE Act - Marijuana Opportunity Reinvestment and Expungement Act - will expunge some cannabis records and create grant opportunities for people who have been negatively impacted by the criminalization of marijuana in addition to removing it from its Schedule I classification, according to Politico.Marijuana is already legal in 11 states, despite the federal designation as a Schedule I drug.Senate Majority Leader Mitch McConnell is opposed to the act, and some say the odds of it passing the senate are very slim.Even if the MORE Act passes both chambers of Congress, it would not make sales of marijuana legal. Regulation of marijuana would be left to states to decide how to handle it. 1310

The US Coast Guard was searching Friday for a passenger who reportedly went overboard from a cruise ship about 35 miles south of the Florida Keys.The 26-year-old man was on the Carnival Victory cruise ship below Islamorada when the incident occurred, officials said.Vance Gulliksen, a spokesman for Carnival Cruise Line, said the vessel was headed back to Miami, its home port, when the man disappeared."All appropriate authorities, including the United States Coast Guard, were notified, and the ship has joined in the search and rescue efforts," Gulliksen said in a statement.Carnival Victory was completing a four-day cruise.A Coast Guard plane, helicopter and cutter were involved in the search. 707

The wild is calling, and we're answering. Reserve yours 7.13.20. #FordBronco pic.twitter.com/2LEDH5FNtr— Ford Motor Company (@Ford) June 29, 2020 153

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