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The stomach-churning market scare continues.The Dow tumbled 546 points, or 2.1%, on Thursday following another rollercoaster session. The index briefly turned positive during morning trading before succumbing to heavy selling pressure. At one point the Dow was down 699 points. The Dow has shed 1,378 points over the past two days.The mood on Wall Street was only slightly calmer than Wednesday's 832-point nosedive.The S&P 500 closed down 2.1%, notching its sixth-straight losing session. It's the longest slump for the broad index since just prior to President Donald Trump's election more than two years ago.The Nasdaq briefly tumbled into a correction, signaling a 10% decline from previous highs. But the index climbed out of correction territory and closed down 1.3%.All three major indexes have lost more than 5% this week. That hasn't happened since March."This kind of washout doesn't get accomplished in a day. Even though yesterday felt traumatic, it tends to be a three-day process," said Art Hogan, chief market strategist at B. Riley FBR.The VIX volatility index touched its highest level since February.One positive is that unlike on Wednesday, the market did not close on the lows of the day. The rebound was helped by fresh?reports that President Donald Trump and Chinese leader Xi Jinping have agreed to meet next month at the G-20 summit. Such a meeting could ease fears that the US-China trade war will hurt corporate profits and slow the US economy.Tech stocks have come under fire because they are some of the riskiest and most expensive parts of the market. Investors fear how these momentum names will hold up in a downturn, particularly as interest rates spike. A proxy for the tech sector had its sharpest plunge in seven years on Wednesday."Halloween started early this month for investors," Ed Yardeni, president of investment advisory firm Yardeni Research, wrote to clients.The afternoon sell-off comes even though a new report showed that consumer prices rose less than expected in September.Stocks have turned sharply south in large part because investors are concerned about rising interest rates. As the Federal Reserve raises rates to prevent runaway inflation, investors have been getting out of bonds, driving down their price and driving up their yields. Suddenly, the return on bonds has become competitive with some stocks — particularly risky tech stocks.Rising interest rates also increase borrowing costs for households and businesses, eating into corporate profits. 2551

The White House on Wednesday downplayed comments by national security adviser John Bolton, who recently invoked Libya's decision to denuclearize during the Bush administration as a model for US policy on North Korea, potentially placing a planned US-North Korea summit in jeopardy.Hours earlier, a North Korean official said Bolton's remarks were indicative of an "awfully sinister move" to imperil the Kim regime. North Korea stunned Washington on Tuesday by threatening to abandon talks between President Donald Trump and Kim Jong Un if Washington insists on pushing it "into a corner" on nuclear disarmament.Referring to the Libya comparison, White House press secretary Sarah Sanders said Wednesday that she hadn't "seen that as part of any discussions so I'm not aware that that's a model that we're using."I haven't seen that that's a specific thing. I know that that comment was made. There's not a cookie cutter model on how this would work."She continued, "This is the President Trump model. He's going to run this the way he sees fit. We're 100% confident, as we've said many times before, as I'm sure you're all aware, he's the best negotiator and we're very confident on that front."In April, Bolton suggested that the White House was looking at Libya as an example of how it will handle negotiations with North Korea to denuclearize."We have very much in mind the Libya model from 2003, 2004," Bolton said on Fox News. "There are obviously differences. The Libyan program was much smaller. But that was basically the agreement that we made."The US agreed to ease sanctions on Libya in 2003 in exchange for a promise by Moammar Gadhafi to abandon his country's nuclear program. Eight years later, however, Gadhafi was overthrown and killed by rebels backed by Washington.In a statement published late Tuesday by the state-run Korea Central News Agency, Kim Kye Gwan, North Korea's first vice minister of the Ministry of Foreign Affairs, called Bolton's comments indicative of "an awfully sinister move to impose on our dignified state the destiny of Libya or Iraq which had been collapsed due to yielding the whole of their countries to big powers.""It is absolutely absurd to dare compare (North Korea), a nuclear weapon state, to Libya which had been at the initial stage of nuclear development," Kim said. "(The) world knows too well that our country is neither Libya nor Iraq which have met miserable fate."Singling out the national security adviser for personal criticism, Kim said that North Korea had "shed light on the quality of (John) Bolton already in the past, and we do not hide our feeling of repugnance towards him."  2657

The Supreme Court cleared the way on Monday for states to legalize sports betting, striking down a 1992 federal law that had prohibited most states from authorizing sports betting.The 6-3 ruling is a victory for New Jersey and other states who have considered allowing sports gambling as a way to encourage tourism and tax revenue. The NCAA, NFL and NBA had backed the federal prohibition.The court said the federal law violated constitutional principles limiting the federal government from controlling state policy, unconstitutionally forcing states to prohibit sports betting under their own laws. 608

The US has reported more deaths from the coronavirus on Wednesday than in any other single day during the pandemic, according to data from Johns Hopkins University.According to Johns Hopkins’ figures, local health officials reported 3,157 deaths from COVID-19 on Wednesday, shattering the previous record of 2,607 set in April.The marker comes as CDC Director Robert Redfield warned on Wednesday that the US could see an additional 180,000 coronavirus-related deaths between today and the end of January — an average of at least 3,000 a day.Meanwhile, coronavirus hospitalizations in the US topped 100,000 on Wednesday according to the COVID Tracking Project, a mark that is well above the spring and summer surges of the coronavirus. Nearly 13% of all US hospital beds are being used by coronavirus patients, placing the nation’s health care system in a precarious situation.Despite population increases since the 1970s, the number of hospital beds in America has steadily declined, according to CDC figures.Wednesday's figures would likely not include infections that occurred during the Thanksgiving holiday weekend as coronavirus infections can take weeks to cause hospitalizations. Public health experts are fearful that despite some states implementing shutdowns of businesses, that holiday travel will cause an additional spike in coronavirus cases.According to Johns Hopkins, the U.S. has recorded at least 100,000 new COVID-19 cases each day since Nov. 3. 1472

The South Korean government says thousands of BMWs will be banned from the country's roads after some vehicles caught fire.The German automaker is facing a public relations crisis in South Korea over the fires, which it has blamed on a problem with the cars' exhaust systems.BMW recalled more than 100,000 vehicles in South Korea last month and has been carrying out emergency inspections. It expanded the checks to Europe last week.As of late Monday, more than 27,000 of the affected BMWs in South Korea still hadn't been checked, according to the South Korean government."Our citizens are deeply concerned," Transportation Minister Kim Hyun-mee said Tuesday. She ordered local authorities to ban people from driving any of the potentially fire-prone BMWs that haven't been brought in for checks. 805

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