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The stock market continued a September slide Monday, with the Dow Jones Industrial Average falling about 800 points at one point. The S&P 500 sank 1.2%, though a last-hour recovery helped it more than halve its loss from earlier in the day.The Dow Jones Industrial Average fell 509.72, or 1.8%, to 27,147.70 after coming back from an earlier 942 point slide. The Nasdaq composite slipped 14.48, or 0.1%, to 10,778.80 after recovering from a 2.5% drop.Monday’s downward movement was seen across many sectors, and market watchers point to multiple reasons.Multiple media outlets are reporting about documents indicating major banks around the world potentially ignored red flags and allowed millions to be transferred by questionable companies or individuals. Stock prices for banks, including JP Morgan Chase, fell on Monday. Many are worried about a spike in coronavirus cases and potential new “waves” of the virus; the United Kingdom announced they are seeing a sharp increase in cases.The recent death of Supreme Court Justice Ruth Bader Ginsburg and subsequent announcement a replacement could come soon means congress will be focused on hearings and the nomination process, and potentially not focused on any federal coronavirus relief aid, according to Marketplace.org.Without federal relief, economic experts have warned of a longer recovery. The Federal Reserve last week said the future of the U.S. economy remained uncertain.Over the weekend, China announced a new regulatory body that could blacklist foreign companies that put China’s national security at risk. NPR says this group could target U.S. tech companies operating in China, like Apple, Cisco, and others.Monday’s slide comes after a few weeks of stock market losses. September is historically the worst month for stocks, according to the Associated Press.“The market has been poised to just pull back, take a breather,” said Quincy Krosby, chief market strategist at Prudential Financial. “Raising capital is prudent during a month that is known statistically, historically for being difficult for the market.” 2095

The State Fair of Texas will not open for the 2020 season after "extensive consideration of the current landscape related to the COVID-19 pandemic."The State Fair of Texas, which takes place every year in Dallas, made the official announcement on their website."With a heavy heart, we are announcing that the State Fair of Texas will not open for the 2020 season. We believe the spirit of the Lone Star state lies in every Texan’s ability to care and look out for their neighbor and it is with this in mind, we have decided to keep our guests, staff, and partners safe and healthy during these uncertain time," the statement said."We look forward to giving y’all a great big Howdy in 2021."The State Fair of Texas Board of Directors voted to cancel the 2020 State Fair of Texas.“This was an extremely tough decision. The health and safety of all involved has remained our top priority throughout the decision-making process,” said Gina Norris, board chair for the State Fair of Texas. “One of the greatest aspects of the Fair is welcoming each and every person who passes through our gates with smiles and open arms. In the current climate of COVID-19, there is no feasible way for the Fair to put proper precautions in place while maintaining the Fair environment you know and love. While we cannot predict what the COVID-19 pandemic will look like in September, the recent surge in positive cases is troubling for all of North Texas. The safest and most responsible decision we could make for all involved at this point in our 134-year history is to take a hiatus for the 2020 season.”The announcement also said while the State Fair of Texas is canceled for 2020, the NCAA, respective conferences, and participating universities – the University of Texas & University of Oklahoma and Prairie View A&M University & Grambling State University – will be in charge of making decisions regarding the football games that occur at Cotton Bowl Stadium."Should football be played this fall, the schools will be playing in the Cotton Bowl as scheduled, despite the cancellation of the 2020 State Fair. We will share those details as soon as we know more."University of Oklahoma's Vice President and Director of Athletics Joe Castiglione issued a statement after the fair was canceled. “We understand and respect the decision made by the State Fair of Texas and acknowledge that it was an extremely difficult one," Castiglione said in the release. "Our hope remains that we can play the OU-Texas game at the Cotton Bowl, but obviously every aspect of our season requires constant monitoring and planning. The best thing all of us can do at this time is closely follow CDC guidelines to reduce the spread of the virus."This will be the first time since World War II that the State Fair of Texas has not opened. The State Fair of Texas has previously canceled Fairs because of World War I (1918), planning for the 1936 Texas Centennial Exposition and 1937 Pan American Exposition at Fair Park (1935 – 1937), and World War II (1942 – 1945).The 2021 State Fair of Texas is scheduled to run Friday, September 24 through Sunday, October 17 in Fair Park.KXXV's Thalia Brionez first reported this story. 3206

The US Postal Service is asking for the biggest price jump on stamps in its history.Facing pressure from the Trump administration to address a revenue shortfall, the Postal Service on Wednesday proposed raising the price of 1-oz. letters from 50 cents to 55 cents, which would be a record nominal increase if approved. The price of each additional ounce would go down slightly.The request was made by the USPS' board of governors, which has been operating on an emergency basis?because of a lack of confirmed members. It will have to be approved by the Postal Regulatory Commission."The Governors believe these new rates will keep the Postal Service competitive while providing the agency with needed revenue," the USPS said in a press release. "The Postal Service has some of the lowest letter mail postage rates in the industrialized world and also continues to offer a great value in shipping."Rates for mailing services -- which includes catalogs and magazines as well as letters -- are pegged to consumer prices. Those have been rising faster this year, but still limited the price hike for that category to 2.5 percent.Prices for packages, however, can float with market rates. The USPS wants to boost Priority Mail prices by an average of 5.9%. A small flat-rate box that costs .20 to ship, for example, would next year cost .90.The steep price increases come at a time when the USPS' losses have been mounting, dragged down in part by a requirement that the quasi-public agency pre-fund the cost of retiree health benefits.As letters and advertising mailers have been replaced by e-mail and online ads, the USPS has been making less and less money. Revenue from first-class mail declined from .4 billion in fiscal year 2015 to .6 billion in 2017.Package revenues fueled by the rise in e-commerce have been a bright spot, bringing in .5 billion in 2017, up from billion in 2015. But it hasn't made much of a dent in the .7 billion net deficit that the Post Office has accumulated over the years.The White House has proposed privatizing the Post Office, a plan that postal unions protested in nationwide demonstrations on Monday.President Donald Trump has repeatedly criticized the terms of USPS' contract to deliver Amazon packages, the details of which are confidential. The Postal Service says it makes a profit through the arrangement."Why is the United States Post Office, which is losing many billions of dollars a year, while charging Amazon and others so little to deliver their packages, making Amazon richer and the Post Office dumber and poorer?" Trump tweeted last December. "Should be charging MUCH MORE!"In April, Trump ordered a review of the Postal Service's business model by a task force led by the Treasury Department. Postal Service spokesman Carl Walton says the review has been completed, but that the agency hasn't seen it yet."I think they're waiting until after the elections," Walton said. "We're waiting just like everybody else." 3041

The Transportation Security Administration says they found three times the rate of loaded guns at checkpoints in July than they did at the exact time last year, despite fewer passengers traveling due to the coronavirus pandemic.In a press release, the agency said that 80% of the firearms that come through a checkpoint are loaded. "It’s just an accident waiting to happen," TSA Administrator David Pekoske said in the release.TSA said they found 15.3 guns per million people screened last month, which is up from the rate of 5.1 guns per million people in July 2019.The agency says that's alarming because they screened 75% fewer travelers last month.“TSA is diligently working to ensure our employees and passengers are safe and secure while traveling during a pandemic, and yet we are noticing a significant increase in loaded firearms coming into checkpoints,” said Pekoske in the press release. “Travelers must understand that firearms are prohibited items at airports and in the passenger cabins of aircraft. As hard as we are working to mitigate other risks at this time, no one should be introducing new ones.”Guns are permitted in checked bags, but they must be unloaded, and in a locked case, TSA said.Last year, 4,432 guns were found in carry-on bags at checkpoints nationwide, which is about 12.1 firearms per day, and 87% of them were loaded, the agency said. 1380

The Weinstein Company, the studio co-founded by disgraced movie mogul Harvey Weinstein, has filed for bankruptcy and torn up legal contracts that kept sexual harassment victims from speaking out.The company said late Monday that it will release victims of, and witnesses to, Weinstein's alleged misconduct from any non-disclosure agreements."Effective immediately, those 'agreements' end," the company said in a statement. "No one should be afraid to speak out or coerced to stay quiet," it added.The Weinstein Company was crippled by the sexual harassment and assault allegations first made against Weinstein last year.Now the studio has reached a deal with the private equity firm Lantern Capital Partners. Lantern is looking to acquire Weinstein Co. through the bankruptcy process.The initial bankruptcy paperwork was filed on Monday night."While we had hoped to reach a sale out of court, the Board is pleased to have a plan for maximizing the value of its assets, preserving as many jobs as possible and pursuing justice for any victims," Bob Weinstein, Harvey Weinstein's brother and chairman of the company, said in a statement provided to CNNMoney.Other bidders could come forward and try to top Lantern's bid for the Weinstein Co. assets.The filing estimates the Weinstein Co. businesses are valued between 0 million and billion.New York Attorney General Eric T. Schneiderman had been pushing for this outcome for several months."This is a watershed moment for efforts to address the corrosive effects of sexual misconduct in the workplace," Schneiderman said Monday night. "The Weinstein Company's agreement to release victims of and witnesses to sexual misconduct from non-disclosure agreements -- which my office has sought throughout this investigation and litigation -- will finally enable voices that have for too long been muzzled to be heard."To date, dozens of women have accused Weinstein of abuse, following reports in the New York Times and the New Yorker last year about his treatment of women, including some of those with whom he's worked. Weinstein has been accused of rape, assault and other forms of sexual misconduct.He sought treatment after the allegations were made public. Through a representative he has repeatedly denied allegations of "non-consensual sex."Monday night's press release from the company said Weinstein Co. "regrets that it cannot undo the damage Harvey Weinstein caused, but hopes that today's events will mark a new beginning."The bankruptcy filing came after a deal to sell the studio's assets fell apart earlier this month.An investment group led by Maria Contreras-Sweet, the former head of the U.S. Small Business Administration, had been close to acquiring all of the company's assets for 0 million but negotiations fell apart at the last minute.Schneiderman's office had been helping to mediate the deal talks.Schneiderman's civil suit against Weinstein Co., Bob Weinstein, and Harvey Weinstein remains active and the investigation is ongoing, his office said Monday.The bankruptcy was announced on the same day New York Gov. Andrew Cuomo directed Schneiderman to review the Manhattan district attorney's handling of a 2015 sexual abuse case involving Weinstein.This week's New York magazine features a story questioning why D.A. Cyrus Vance Jr. hasn't prosecuted Weinstein.Time's Up, the female-led organization formed in the aftermath of the Weinstein scandal, responded to the story by calling for a probe into Vance and his office "to determine the facts related to the decision not to prosecute Harvey Weinstein for sexual abuse crimes against one of his accusers, Ambra Battilana."Back in October, The New Yorker?released an audio recording of Weinstein speaking with young model Ambra Battilana Gutierrez as part of a 2015 sting operation. The NYPD set up the sting after Gutierrez told authorities that Weinstein groped her the day before.In the recording, Weinstein makes potentially incriminating comments to Gutierrez, but he was not arrested or charged with a crime at the time.After the tape's release, the New York Police Department and the Manhattan DA's office traded public finger-pointing. But on Monday, Vance and the NYPD released a joint statement reiterating their shared commitment to investigate and prosecute sexual assault cases.Vance has also faced criticism for accepting a ,000 donation from David Boies, an attorney who has represented Weinstein, in August 2015, according to campaign financial disclosure forms from the New York State Board of Elections.Vance's office said Monday that "our investigation of Mr. Weinstein is active and ongoing."That response didn't seem to satisfy Cuomo. He answered Time's Up's call and referred the matter to Schneiderman's office, instructing the A.G. to review Vance's handling of the Battilana case "in a way that does not interfere with the current investigation..."Schneiderman welcomed the opportunity, saying, "We are committed to pursuing a full, fair, and independent review of this matter."The-CNN-Wire 5076