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The Dow Jones Industrial Average had its largest single-day drop in the market's history on Thursday.The Dow finished the day down nearly 1,193 points. The previous largest one-day drop for the Dow was on Feb. 5, 2018, when the index lost 1,175 points.The Dow has lost more than 3,500 points since Friday, marking one of the worst weeks for the market in the last calendar year. Three of the five largest single-day drops in Dow Jones history took place this week.Stocks have been falling amid fears of a worldwide slowdown due to the spread of COVID-19, better known as the coronavirus. Though 607

The opioid crisis cost the U.S. economy 1 billion from 2015 through last year — and it may keep getting more expensive, according to a study released Tuesday by the Society of Actuaries.The biggest driver of the cost over the four-year period is unrealized lifetime earnings of those who died from the drugs, followed by health care costs.While more than 2,000 state and local governments have sued the drug industry over the crisis, the report released Tuesday finds that governments bear less than one-third of the financial costs. The rest of it affects individuals and the private sector.The federal government is tracking how many lives are lost to the opioid crisis (more than 400,000 Americans since 2000), but pinning down the financial cost is less certain.A U.S. Centers for Disease Control and Prevention report from found the cost for 2013 at billion. That’s less than half the cost that the latest report has found in more recent years. The crisis also has deepened since 2013, with fentanyl and other strong synthetic opioids contributing to a higher number of deaths. Overall, opioid-related death numbers rose through 2017 before leveling off last year at about 47,000.A study published in 2017 by the White House Council of Economic Advisers estimated a far higher cost — just over 0 billion a year. The new study notes that the White House one used much higher figures for the value of lives lost to opioids — attempting to quantify their economic value rather than just future income.The actuaries’ report is intended partly to help the insurance industry figure out how to factor opioid use disorder into policy pricing.It found that the cost of the opioid crisis this year is likely to be between 1 billion and 4 billion. Even under the most optimistic scenario, the cost would be higher than it was in 2017.The study was released just ahead of the first federal trial on the opioid crisis, scheduled to start next week in Cleveland where a jury will hear claims from Ohio’s Cuyahoga and Summit counties against six companies. The counties claim the drug industry created a public nuisance and should pay.The report found that criminal justice and child-welfare system costs have been pushed up by the opioid epidemic.Most of the added health care costs for dealing with opioid addiction and overdoses were borne by Medicaid, Medicare and other government programs, according to the report. Still, the crisis rang up billion in commercial insurance costs last year. Lost productivity costs added another billion.Businesses have begun noticing. Last week, a small West Virginia home improvement company, Al Marino Inc., filed a class-action lawsuit against several companies, claiming the opioid crisis was a reason its health insurance costs were skyrocketing.Still, the biggest cost burden fell on families due to lost earnings of those who died. Those mortality costs alone came to more than billion last year, the report said.Members of a committee representing unsecured creditors helping guide opioid maker Purdue Pharma’s bankruptcy process have been calling for money in any settlement to go toward to people affected by the crisis and not just governments. 3225

The father of a South Carolina fifth-grader who died last week after a fight at her elementary school is demanding answers over his daughter's death. 161

The Democratic Party said on Friday it plans on holding the next Democratic debate on one night -- Tuesday, October 15 -- with as many as 12 candidates on one stage. In general, 10 candidates have been the max on one stage for nationally televised presidential debates. But party officials said on Friday that holding the debate on one night will maximize viewership. "Our goal has always been to expand viewership, and we also believe that one night worked well for this last debate," a party official said. In the September debate, 10 candidates qualified for the debate, which was held on one night. Those who have met the threshold for the next debate are: former Vice President Joe Biden, New Jersey Sen. Cory Booker, South Bend, Indiana, Mayor Pete Buttigieg, former Housing and Urban Development Secretary Julián Castro, Hawaii Rep. Tulsi Gabbard, California Sen. Kamala Harris, Minnesota Sen. Amy Klobuchar, former Texas Rep. Beto O'Rourke, Vermont Sen. Bernie Sanders, businessman Tom Steyer, Massachusetts Sen. Elizabeth Warren and businessman Andrew Yang.Although candidates still have another four days to qualify, it does not appear any other candidates will qualify. Also, whether all 12 candidates stay in the race until October 15 is unknown. Some candidates are already facing difficulties keeping their campaigns funded. One candidate who is already suggesting he is on the brink of dropping out is Booker. Booker's campaign manager, Addisu Demissie, sent a memo, which was published on Medium.com, that said the Booker campaign is in need of .7 million to continue operating.The reason is simple: it's expensive to run a national campaign. The goal for candidates like Booker is not just to win early primary states, but to continue a campaign past February. The Oct. 15 debate will be broadcast on CNN. 1836

The National Hurricane Center said late on Wednesday that a disturbance in the northern Gulf of Mexico is nearing tropical depression status. The storm, which will likely become tropical storm Barry on Thursday, has become better organized. Even as just a tropical disturbance, the storm system has already caused massive flooding in the New Orleans area. Parts of the area had nearly 9 inches of rain on Wednesday, with more to come through Saturday. The latest projections take the storm to the Louisiana coast as a hurricane. Latest forecast models put the storm on the coast sometime Saturday. The forecast cone still keeps open the possibility the storm slides to the west, giving the Upper Texas Coast a direct hit.The hurricane watch goes from the Mouth of the Mississippi River westward to Cameron Louisiana.As of 10 p.m. CT, the storm is 240 miles southeast of Morgan City, Louisiana. 906