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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
Three men pleaded not guilty to the charges they face in connection with the death of Ahmaud Arbery in February. Gregory and Travis McMichael and William "Roddie" Bryan Jr. all make their pleas Friday morning via video conference. However, the issue that got more attention at the hearing was masks. Bryan's attorney, Kevin Gough, began his client's portion of the hearing discussing masks. He asked for clarification if Bryan had to wear a mask while appearing remotely at the jail. Since he was distanced from others in the jail's video conference room, the judge clarified that he was allowed to remove it. Gough then raised an objection, saying he thought wearing masks referencing George Floyd in the courtroom was a political statement. He was referencing the Arbery family attorney who was sitting in the courtroom. "I do not see masks as being a political statement,” Chatham County superior court judge Timothy Walmsley responded, saying masks were required by public health guidelines and he wore one when he took the bench. "The courtroom is not a place for political statements, not a place for outbursts," he continued, saying if any behavior or actions by anyone in the courtroom becomes disruptive, it will be dealt with. “This is not the place to make a statement," Judge Walmsley said. Gregory and Travis McMichael were arrested on May 7 for the February 23 shooting death of Arbery outside of Brunswick, Georgia. Greg McMichael told police he suspected Arbery was a burglar and that Arbery attacked his son before being shot.Arbery was running in a neighborhood at the time. In the charging documents, prosecutors allege the McMichaels chased Arbery before shooting him. Bryan, the man who recorded the fatal shooting of Arbery, was arrested later on charges including felony murder.Last month, a grand jury indicted Travis McMichael, Greg McMichael and William “Roddie” Bryan Jr. on malice and felony murder charges in Arbery’s death 1960
This story proves age can be just a state of mind. Meet a woman who surprised herself and now inspires all of us.For 80-year-old weightlifter Sally Robertson, it takes breathing, focus and form for a solid bench press. But despite her age, Robertson is able to handle these tasks with ease. Just a few months ago, Robertson barely worked out, but things have changed."I love it!" Robertson said. "I love doing it! I really really enjoy it!"Robertson works out with her trainer Alyssa Mallett and husband Bob Robertson who last year, could barely walk."The only way he could get out of a chair was to pull himself," said Robertson. "So we knew that we were looking at moving into senior housing."He started working out at Castle Rock Adventist Hospital HealthFit Gym, a gym staffed with kinesiologists that provides fitness care and encourages physicians to “prescribe” exercise and fitness. "Coming here for two weeks, he could stand up without using hands," said Robertson. "And believe me, that totally got my attention." Robertson decided to start weightlifting, and found the biggest battle wasn't with her body, but with her mind."I had lots of mind talk that said, 'You're too old you can't do this. But I just made up my mind to do my best," said Robertson.Robertson started slow."At first it's like, 'That's way too much I can't do that,'" said Robertson. Eventually, the weight she could lift began to rise, along with her confidence. She set a lofty goal: To compete in her region's Senior Olympics."I mentioned to Alyssa, 'Oh I've always wanted to do that,'" Robertson remembers. "And she said, 'You can.'"Mallett helped Robertson get ready and months later she was ready to compete."When I went to the Senior Olympics, I just said 'I don't care what kind of a fool I make out of myself I don't care anything about anything except I'm just going to do it,'" Robertson said.Robertson dead-lifted 10 pounds more than she had ever done before, and took home the gold."Oh I was I was so excited," said Robertson. "I was. I was excited and I was proud of myself. I was really proud."Sally's not only lifting, but walking in virtual 5Ks. Each medal on her wall helps to change her self image."When I walk in there I look up and I go, 'I am a walker,'" said Robertson.Robertson says we can all make these changes, by taking the first step and going somewhere you feel comfortable."I wouldn't think of going in a gym with all the skinny people lifting weights in all their nice spandex clothes," said Robertson. "I just would not do that."And when the voices in your head tell you that you can't?"Tell those voices to shut up," Robertson said. "I mean, look at me."Lifting weights but more importantly uplifting yourself; at 80 or any age. 2841
There’s a new trend online, and it’s making people money. But shoppers don’t even know what they’re purchasing.They’re called “Mystery Boxes” and the products are popular on sites like Etsy and eBay."We order stuff on Amazon all the time, but we know what we're getting, says Aurelia Seward, a seller on Etsy.“How much funner would it be to get a box and not know what’s inside of it?” Seward sells all-natural holistic items and has been curating mystery boxes for about a month."My mystery boxes can be any array of items to handcrafted jewelry to real gem stones for healing,” she explains. “Lava stone bracelets for diffuser oils, essential oils, stuff like that." Buyers can choose from all sorts of themed boxes, including electronics, toys, beauty products, etc.Seward’s boxes sell for . "I haven't been doing too much marketing for them, but the orders are rolling in, so that's kind of fun.Some boxes can go for 0, but Seward cautions buyers to watch out for the more expensive ones."I've seen some that are really big duds,” she says. “Like, they have gotten dirty clothes.”Buyers should also check the seller’s reviews before purchasing a mystery box. 1200
This is the beginning of Packer's second signed confession. The entire document is on display at the Hinsdale County Courthouse. 137