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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 victims' families and survivors of the Florida high school shooting have not held back, calling out the National Rifle Association in the days since the massacre.On Wednesday, Dana Loesch, the organization's national spokeswoman faced them for the first time.Loesch said the organization feels the process for buying firearms is flawed and ensured the audience that the NRA is fighting for them. But the crowd booed as she left the event. 456
The United States Coast Guard embodies the saying, "always ready."When forecasting natural disasters, however, those two words become much more than a motto -- they could mean the difference between life and death.“With natural disasters, they’re unpredictable," said USCG Capt. Will Watson, commander, Sector New Orleans. "There’s uncertainty but what you have to do is lean back on your training.” With U.S. Coast Guard stations across the country on standby, Watson said his teams are ready to help whenever and wherever they are needed.“When the time comes, and you face something that you maybe weren’t otherwise prepared for, that’s when you exercise on-scene initiative,” he said. “You think critically. You think creatively. Remain adaptable and flexible and act.”Southeast Louisiana locals are calling the U.S. Coast Guard, “heroes,” saying they saved more than lives during past natural disasters.“One day, I got stuck in a boat and they come over here, five of them come here, and helped me out,” said local fisherman Tony Buffone, who lost his house during Hurricane Katrina -- one of the most deadly and expensive natural disasters to hit U.S. soil.During recent storms, Buffone is now using lessons he learned from the U.S. Coast Guard.“It’s good to have good Coast Guard,” he said. “We got a good Coast Guard crew right there.”As the Gulf Coast deals with another massive hurricane, the U.S. Coast Guard is doing what it does best: staying “always ready”.“We have resources, assets, people from all across the Coast Guard ready to support this fight,” Watson said. “And we’re ready; ready to respond to Hurricane Laura.” 1643
The summer of 2020 has been one marred by civil unrest in the U.S. Since the death of George Floyd at the hands of police on Memorial Day weekend, thousands of protests have taken place across the country calling for police reform and an end to systemic racism.While some of those protests have resulted in burned buildings and looted businesses, a non-profit group reports that the overwhelming majority of Black Lives Matter protests in 2020 have been peaceful.According to a report from the Armed Conflict Location and Event Data Project (ACLED), there were nearly 8,000 demonstrations linked to the Black Lives Matter movement between May 26 and Aug. 22 — 93% of which were peaceful.The ACLED, which sources information via reports from the media, reports from government and non-government agencies as well as targeted social media reports, says that Black Lives Matter protests took place in more than 2,000 locations — including in all 50 states — between late May and August. Most places that saw protests that devolved into riots also saw several other peaceful demonstrations.The organization also notes that in places where riots were widespread, like Portland, that the vandalism was limited to the span of a few square blocks.The ACLED's findings contradict the findings of pollsters, who report that as many as 42% of Americans believe most Black Lives Matter activists are "trying to incite violence or destroy property." The ACLED believes that disparity comes from "biased media framing" stemming from "disproportionate coverage of violent demonstrations."And while BLM demonstrations have been largely peaceful, the ACLED reports that local governments have disproportionately responded with force. About 1 in 10 BLM protests were met with government intervention — a 6% increase when comparing government intervention in all other demonstrations. In half of those interventions, police used tear gas, rubber bullets, pepper spray or batons while attempting to force protesters to disperse.While not the case in every violent protest, the ACLED reports that some riots were instigated by "agents provocateurs," or outside infiltrators. For example, a man with an umbrella who committed early acts of vandalism in Minneapolis has since been linked to Hells Angels.The Black Lives Matter protests have also sparked a conversation about statues dedicated to Confederate leaders or those with colonialist or slave-owning pasts. The ACLED found 38 instances in which protesters toppled such statues, though local governments across the country have peacefully removed dozens of similar monuments on their own.The ACLED aggregates data from political conflicts around the world. According to the group's webpage, the non-profit organization receives some funding from the State Department. 2810
The way lawyers for Kyle Rittenhouse tell it, he wasn’t just a scared teenager acting in self-defense when he shot to death two Kenosha, Wisconsin, protesters. He was a courageous defender of liberty, a patriot exercising his right to bear arms amid rioting in the streets.The dramatic rhetoric has helped raise nearly million to pay for the 17-year-old’s defense against homicide charges in the killing of two protesters, and wounding of a third. The shootings happened on the third night of demonstrations following the police shooting of Jacob Blake. “A 17-year-old citizen is being sacrificed by politicians, but it’s not Kyle Rittenhouse they are after. Their end game is to strip away the constitutional right of all citizens to defend our communities,” says the voice-over at the end of a video released this week by a group tied to Rittenhouse’s legal team.But some legal experts say there are risks in turning a fairly straightforward self-defense case into a sweeping political argument that could play into a stereotype that he is a gun-crazed militia member out to start a revolution.“They’re playing to his most negative characteristics and stereotypes, what his critics want to perceive him as — a crazy militia member out to cause harm and start a revolution,” said Robert Barnes, a prominent Los Angeles defense attorney.Rittenhouse’s high-profile defense and fund-raising teams, led by Los Angeles-based Pierce and Atlanta attorney Lin Wood, respectively, refused to speak to The Associated Press about their strategy ahead of the teen’s next court appearance Friday, a hearing in Illinois on whether to return him to Wisconsin.Earlier this week, a new lawsuit claims Facebook promoted conspiracy theories among the members of militia groups and is responsible for a series of shootings in Kenosha that left protesters dead in the days following the shooting of Jacob Blake. 1902