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The US stock market sank deeper into the red following sluggish economic reports on Monday and bad news from a couple of blue-chip giants.The Dow fell 600 points by late afternoon, or 2.6%. The S&P 500 lost 2.6% and retreated to its lowest level of the year. And the Nasdaq joined the Dow & S&P 500 in negative territory for 2018. All three indexes have plunged about 7% so far this December.The Dow closed down 507 points for the day.And the Russell 2000 index of small-cap stocks tumbled into a bear market, marking a 20% decline from the record highs notched in late August.A weaker reading from the New York Federal Reserve about manufacturing in the Empire State and a drop in confidence from the nation's homebuilders weighed on the markets."Investors are zeroing in on this idea of slower growth for 2019," said Michael Arone, chief investment strategist at State Street Global Advisors. "More people are worried about a recession in late 2019 or 2020."The political noise in Washington isn't helping either. President Trump, in a tweet Monday morning, repeated his criticism of the Federal Reserve for its recent rate hikes. The Fed meets Wednesday and is widely expected to raise rates again.But Trump tweeted that "it is incredible that with a very strong dollar and virtually no inflation, the outside world blowing up around us, Paris is burning and China way down, the Fed is even considering yet another interest rate hike. Take the Victory!"The Fed is supposed to be politically independent. Any evidence that it might be swayed by attacks from Trump could unnerve the markets."If the Fed doesn't raise rates it will look like it's succumbing to the bullying of Trump's tweets," Arone said.But Nancy Perez, managing director at Boston Private, said the Fed is likely to slow down its pace of rate hikes in 2019 simply because the economy is slowing, not because of pressure from Trump.Perez added that the recent market turmoil is justified because investors are readjusting to this fact."We have been getting a bump in profit margins due to lower taxes but the earnings growth itself is not sustainable," Perez said. "Projections will come down and volatility will continue." 2247

The Trump administration has formally asked the Federal Communications Commission (FCC) to develop regulations that could apply to Facebook, Twitter and other such platforms.It's a key step toward President Donald Trump fulfilling his executive order to regulate social media.The order asks the FCC to clarify a section of law that has shielded tech companies from much litigation over internet content since 1996.The FCC — which is reviewing the Administration's petition — now has to decide whether to agree with the president's call for oversight or not.Legal experts say the agency has traditionally avoided regulating internet companies in the past. 662

The US economy added 155,000 jobs in November, the Labor Department reported Friday. That's fewer than expected, but the unemployment rate remained steady at 3.7%.October's jobs numbers were also revised down slightly, to put the monthly average over the past year at about 204,000 jobs, and the average over the last quarter at 170,000.The report is a sign of a slowing but still strong labor market — and further support for the idea that the Federal Reserve may hold off hiking interest rates over the next year as quickly or as much as initially planned.That's reassuring to investors who had been worried that the Fed would move too fast to cool off an already decelerating economy."My reaction is a sigh of relief," said Leo Grohowski, chief Investment Officer at BNY Mellon Wealth Management. "I think a mild miss is more than acceptable in order to help the Fed understand that multiple rate increases may not be warranted for 2019."Paychecks grew by 3.1% over the last year, a relatively robust number that is in line with expectations as employers have had to fight to attract workers in recent months.The percentage of people participating in the labor force remained the same and the median number of weeks people remained unemployed dropped from 9.4 to 8.9 weeks in November, suggesting that people are getting jobs more quickly after losing them.However, the number of people "marginally attached" to the labor force — those who had looked for a job in the past year but stopped in the past month because they couldn't find one — has risen by nearly 200,000 over the past year. The percentage of people working part time who would rather work full time also rose slightly.Despite high demand for workers in some sectors, that may show that people who want jobs increasingly aren't in the places where employers need them — and that the economy still has room to expand before running out of workers entirely.The strongest job growth came in health care, transportation and warehousing, and manufacturing, which added another 27,000 jobs for 288,000 total growth over the past year. Tariffs and fears of a larger trade war may not be having a huge positive impact, but they're definitely not choking the sector either.The-CNN-Wire? & ? 2018 Cable News Network, Inc., a Time Warner Company. All rights reserved. 2335

The United States of America will NOT be cutting funding to @starsandstripes magazine under my watch. It will continue to be a wonderful source of information to our Great Military!— Donald J. Trump (@realDonaldTrump) September 4, 2020 243

The White House released official portraits of President Donald Trump and Vice President Mike Pence Tuesday morning.According to an official press release from the White House, the portraits were produced by the Government Publishing Office. The photos will be distributed and displayed in the offices of federal agencies across the country.The walls of federal agencies have been a bit bare since Jan. 20, when former President Barack Obama's portrait was taken down in all federal agencies following the inauguration. A September story by the Washington Post reported that the Trump administration was slow to release an official portrait — Obama's portrait was released by March of his first year in office, President Bill Clinton's was released by June.The White House also says the photographs will be made available for sale to the public.  859

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