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Trade war fears wiped more than 1,100 points off the Dow in just two days. It was Wall Street's worst week in more than two years.Investors are increasingly worried that President Trump's crackdown on China will trigger a fierce response that darkens the otherwise bright economic outlook.The Dow dropped 425 points, or 1.8%, on Friday, sinking back into a "correction" — a decline of 10% from the all-time high in January. The Dow finished at its lowest point since November.All three major indexes took their biggest weekly tumbles since January 2016.The market failed to stage a rebound from Thursday's plunge, which erased 734 points from the Dow.China vowed on Thursday that it would fight a potential trade war "until the end.""We have this general freak-out. We don't know the next shoe to drop on trade," said Michael Block, chief strategist at Rhino Trading Partners.Investors were further rattled when China's ambassador to the United States signaled that China could ease purchases of US bonds in response to Trump's tariffs. "We are looking at all options," Ambassador Cui Tiankai told Bloomberg News.China is America's biggest creditor, with more than trillion of Treasury bonds."We've been told for our entire careers that trade wars made the Great Depression worse. And we believe it," said Bruce McCain, chief investment strategist at Key Private Bank.Related: Trade fears add to concern of a downturnAsian markets were rocked overnight after China vowed not to back down in a potential trade war with the United States. Japan's Nikkei 225 plummeted 4.5%, and the Hang Seng in Hong Kong lost 2.5%.On Thursday, the market sold off after Trump announced plans to impose tariffs on about billion of Chinese imports to retaliate for theft of intellectual property.China said hours later that it "is not afraid of and will not recoil from a trade war." Officials in China detailed a plan to retaliate to Trump's aluminum and steel tariffs by imposing their own tariffs on about billion worth of imports of US goods.Trump, who often uses the stock market as a barometer for his success, shrugged off the market turmoil."I think the stock market is going to be great," he said Friday at the White House after a reporter asked about the sell-off. "The stock market is way up. When I came into office, the stock market was from a different planet."Despite the recent struggles, the Dow remains up about 30% since Trump's election.Related: China: We would fight a trade war 'to the end'The worry is that a tit-for-tat escalation between the two largest economies in the world will ruin the solid economic backdrop. Investors had been banking on strong growth this year, but a slowdown in trade and dented business and consumer confidence could change that outlook drastically.Barclays warned in a report that a trade war would drown out the benefits of Trump's tax cuts, which helped power Wall Street's euphoric rally."The administration is moving forcefully into the anti-trade portion of its policy agenda," Barclays economist Michael Gapen wrote in a report on Friday.But it's too early to assess the impact. Bullish investors hope that the administration will soften its tough stance with China, similar to how tariffs on steel and aluminum imports were later scaled back significantly."The threat of a misstep remains high," Raymond James Washington policy analyst Ed Mills wrote in a report, but there is an expectation that "these actions will be watered down or mitigated" in the coming weeks.Key Bank's McCain thinks it's more likely the market is going through a correction than entering a bear market. He pointed to robust corporate profits and the strong economy, which enjoyed robust job growth in February."If anything, a few weeks ago we worried about the economy overheating and inflation picking up," McCain said.The-CNN-Wire 3867

This is incredibly disturbing. My staff is reaching out to the city. https://t.co/jE54kA8R9O— Senator Brad Hoylman (@bradhoylman) September 4, 2020 155

Tiger Woods is back in action and he might not even be the main event. His partner in the PNC Championship this week is his 11-year-old son Charlie. They are among the 20 teams in the field for a 36-hole scramble that will be on NBC. Is that too young for the bright lights of television? Remember, Woods was 2 when he made his first television appearance on "The Mike Douglas Show." Woods says it's all about enjoying the time together. He says his father didn't push him to play golf, and he won't push his son, either.According to Golf Digest, Tiger and Charlie will compete alongside Justin Thomas and his dad, Mike, at 11:48 a.m. local time Saturday in a two-day scramble event. The third father-son duo joining the group is Tiger's caddie Joe LaCava and his son, Joe LaCava Jr., Golf Digest reported. 814

Three UCLA basketball players accused of shoplifting in China last week were flying back to Los Angeles on Tuesday, the commissioner of the Pacific-12 athletic conference said, hours after US President Donald Trump said he asked his Chinese counterpart to help in the case.The three freshmen -- LiAngelo Ball, Cody Riley and Jalen Hill -- were allowed to leave China on the US-bound flight after the situation was "resolved to the satisfaction of the Chinese authorities," said Larry Scott, commissioner of the Pac-12 Conference, of which UCLA is a member."We are all very pleased that these young men have been allowed to return home to their families and university," Scott said in a news releaseThe three were arrested last week while their team was in the Chinese city of Hangzhou ahead of the squad's season opener in Shanghai. They were questioned on suspicion of stealing sunglasses from a Louis Vuitton store near their hotel.The trio stayed at the hotel, reportedly awaiting next steps in their case, while their teammates went to Shanghai, where UCLA defeated Georgia Tech 63-60 on Saturday. The three also remained in China as their team returned to the United States over the weekend.Scott did not say how the case was resolved; a conviction of grand larceny in China could result in years of prison. But Trump said Tuesday that he had asked Chinese President Xi Jinping to help.UCLA's trip coincided with Trump's two-day state visit to the Chinese capital, Beijing, as part of his 13-day trip to Asia. Trump told reporters Tuesday that Xi had been helpful in working to resolve the case.Scott acknowledged Trump, among others, in his statement."We are grateful for the role that our Chinese hosts played, and for the courtesy and professionalism of the local authorities," Scott said. "We also want to acknowledge UCLA's significant efforts on behalf of their student-athletes."Finally, we want to thank the President, the White House and the US State Department for their efforts towards resolution."Trump's request was first reported by the Washington Post.  2086

Thousands of women are downing tools, boycotting domestic tasks and occupying the streets of Spain as part of a global strike on International Women's Day."Today we claim a society free of oppression, exploitation and sexual violence," said the organizers of the nation's first "feminist strike" in their manifesto. "We call for rebellion and the struggle against the alliance between patriarchy and capitalism that wants us to be docile, submissive and silent."Twenty-four hours of strikes and rallies kicked off at midnight in Madrid. Protesters gathered at the central square banging pots and pans as the city council buildings behind them were lit up in purple, the official color of #IWD2018.As light dawned, demonstrators began gathering in cities across the country to call for an end to unequal pay and precarious working conditions, and to draw attention to the role of women in "devalued" domestic labor.Most of the country's unions called for a 24-hour strike, while two of the biggest have asked their members to stop work for just two hours.While Spain is seeing some of the largest walkouts, women in many other countries around the world are also on strike Thursday in response to the call for a global work stoppage.A national strike in Italy is disrupting rail and air transport, while cities across the UK are also seeing rallies by striking women.  1380

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