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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 Yale University police officers who were called to investigate a napping black graduate student ultimately admonished the white student who had contacted police in the first place, a Yale vice president says.The incident, captured in two Facebook Live videos, has sparked outrage about racial profiling and policing.Kimberly Goff-Crews, Yale's vice president for Student Life, said in an email to students Wednesday night that she's been "deeply troubled" by the incident.Officers interrogated Lolade Siyonbola, a black graduate student at Yale, early Tuesday after a white student found her sleeping in a common room of their dorm and called police.Siyonbola had been working on a paper in the Hall of Graduate Studies and fell asleep. Another student came in, turned on the lights and told her, "You're not supposed to be sleeping here. I'm going to call the police."Two police officers arrived and began questioning Siyonbola in a stairwell. When she asked them about the complaint, one officer said, "She called us (and) said there's somebody who appeared they weren't ... where they were supposed to be."The officers asked for her ID, and after some delay in verifying the spelling of her name, she was cleared to go.In the aftermath, Yale officials have defended the police response to the situation."We believe the Yale police who responded followed procedures," said Yale spokeswoman Karen Peart. "It is protocol in such circumstances for the police to ask for student (or staff) identification cards. Both students had to identify themselves."CNN has reached out to the other student for comment.The delay with verifying Siyonbola's ID was because the name on her card was her preferred name, which did not exactly match her name in university records, Peart said."As we do with every incident, we will be reviewing the call and the r
The same day that the First Baptist Church of Sutherland Springs held its first service since a gunman opened fire on parishioners last week, killing 25 people and an unborn child, residents and visitors got to see how the church had been turned into a memorial.On Sunday evening, the church opened its doors and invited the public inside the sanctuary, which had been emptied and transformed into a memorial, completely covered from floor to ceiling in white.Those who visited found 26 roses on 26 white chairs, representing each of the victims who lost their lives. 575
The Supreme Court on Tuesday ruled that the Trump administration can end census field operations early, in a blow to efforts to make sure minorities and hard-to-enumerate communities are properly counted in the crucial once-a-decade tally.The decision was not a total loss for plaintiffs in a lawsuit challenging the administration’s decision to end the count early. They managed to get nearly two extra weeks of counting people as the case made its way through the courts.However, the ruling increased the chances of the Trump administration retaining control of the process that decides how many congressional seats each state gets — and by extension how much voting power each state has.The Supreme Court justices’ ruling came as the nation’s largest association of statisticians, and even the U.S. Census Bureau’s own census takers and partners, have been raising questions about the quality of the data being gathered — numbers that are used to determine how much federal funding and how many congressional seats are allotted to states.After the Supreme Court’s decision, the Census Bureau said field operations would end on Thursday.At issue was a request by the Trump administration that the Supreme Court suspend a lower court’s order extending the 2020 census through the end of October following delays caused by the pandemic. The Trump administration argued that the head count needed to end immediately to give the bureau time to meet a year-end deadline. Congress requires the bureau to turn in by Dec. 31 the figures used to decide the states’ congressional seats — a process known as apportionment.By sticking to the deadline, the Trump administration would end up controlling the numbers used for the apportionment, no matter who wins next month’s presidential election.In a statement, House Speaker Nancy Pelosi called the Supreme Court’s decision “regrettable and disappointing,” and said the administration’s actions “threaten to politically and financially exclude many in America’s most vulnerable communities from our democracy.”Associate Justice Sonia Sotomayor dissented from the high court’s decision, saying “respondents will suffer substantial injury if the Bureau is permitted to sacrifice accuracy for expediency.”The Supreme Court ruling came in response to a lawsuit by a coalition of local governments and civil rights groups, arguing that minorities and others in hard-to-count communities would be missed if the census ended early. They said the schedule was cut short to accommodate a July order from President Donald Trump that would exclude people in the country illegally from being counted in the numbers used for apportionment.Opponents of the order said it followed the strategy of the late Republican redistricting guru, Thomas Hofeller, who had advocated using voting-age citizens instead of the total population when it came to drawing legislative seats since that would favor Republicans and non-Hispanic whites.Last month, U.S. District Judge Lucy Koh in San Jose, California sided with the plaintiffs and issued an injunction suspending a Sept. 30 deadline for finishing the 2020 census and a Dec. 31 deadline for submitting the apportionment numbers. That caused the deadlines to revert back to a previous Census Bureau plan that had field operations ending Oct. 31 and the reporting of apportionment figures at the end of April 2021.When the Census Bureau, and the Commerce Department, which oversees the statistical agency, picked an Oct. 5 end date, Koh struck that down too, accusing officials of “lurching from one hasty, unexplained plan to the next ... and undermining the credibility of the Census Bureau and the 2020 Census.”An appellate court panel upheld Koh’s order allowing the census to continue through October but struck down the part that suspended the Dec. 31 deadline for turning in apportionment numbers. The panel of three appellate judges said that just because the year-end deadline is impossible to meet doesn’t mean the court should require the Census Bureau to miss it.The plaintiffs said the ruling against them was not a total loss, as millions more people were counted during the extra two weeks.“Every day has mattered, and the Supreme Court’s order staying the preliminary injunction does not erase the tremendous progress that has been made as a result of the district court’s rulings,” said Melissa Sherry, one of the attorneys for the coalition.Besides deciding how many congressional seats each state gets, the census helps determine how .5 trillion in federal funding is distributed each year.San Jose Mayor Sam Liccardo said that his city lost 0 million in federal funding over the decade following the 2010 census, and he feared it would lose more this time around. The California city was one of the plaintiffs in the lawsuit.“A census count delayed is justice denied,” Liccardo said.With plans for the count hampered by the pandemic, the Census Bureau in April had proposed extending the deadline for finishing the count from the end of July to the end of October, and pushing the apportionment deadline from Dec. 31 to next April. The proposal to extend the apportionment deadline passed the Democratic-controlled House, but the Republican-controlled Senate didn’t take up the request. Then, in late July and early August, bureau officials shortened the count schedule by a month so that it would finish at the end of September.The Senate Republicans’ inaction coincided with Trump’s order directing the Census Bureau to have the apportionment count exclude people who are in the country illegally. The order was later ruled unlawful by a panel of three district judges in New York, but the Trump administration appealed that case to the Supreme Court.The Supreme Court decision comes as a report by the the American Statistical Association has found that a shortened schedule, dropped quality control procedures, pending lawsuits and the outside politicization of some parts of the 2020 census have raised questions about the quality of the nation’s head count that need to be answered if the final numbers are going to be trusted.The Census Bureau says it has counted 99.9% of households nationwide, though some regions of the country such as parts of Mississippi and hurricane-battered Louisiana fall well below that.As the Census Bureau winds down field operations over the next several days, there will be a push to get communities in those two states counted, said Kristen Clarke, president and executive director of the Lawyers’ Committee for Civil Rights Under Law, one of the litigants in the lawsuit.“That said, the Supreme Court’s order will result in irreversible damage to the 2020 Census,” Clarke said.___Follow Mike Schneider on Twitter at https://twitter.com/MikeSchneiderAP 6792
The U.S. Surgeon General is talking about structural racism, saying it's partly why the coronavirus has disproportionately affected Black and Latino Americans.Surgeon General Jerome Adams plans to focus on two initiatives soon, high blood pressure and maternal mortality, which is women dying from pregnancy or childbirth issues.The office plans to put out science-based summaries designed to create urgent action on both issues that disproportionately affect communities of color.Earlier this month, the Institute for Health Metrics and Evaluation declared racism a public health crisis.“Racism is a public health issue,” said Dr. Ali Mokdad with the Institute for Health Metrics and Evaluation. “I’ve been on record saying it’s more dangerous than COVID-19, simply because we're going to find a vaccine for COVID-19.”They are currently working with the National Institutes of Health on providing data down to the county level of the burden of disease by race.Mokdad used life expectancy as an example. He says within a county there are high disparities, sometimes 15 years less based on where minorities or lower income people live.“Provide data in order to tell people this is what we see. These are the problems, keeping in mind you cannot change what you cannot measure,” said Mokdad.The CDC is also now requiring states to collect data about race, ethnicity, gender, and zip code for coronavirus cases.Racism in healthcare affects everyone, socially and economically.“What people don’t realize is we are paying for it one way or another and right now when you look at the United States, we spend more money on health than every other country,” said Mokdad.Mokdad and other health professionals we talked to all pointed to universal health care as another obvious solution to addressing structural racism. 1818