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The US Olympic Committee wants to revoke USA Gymnastics' status as the sport's governing body as the organization struggles to recover from the sex abuse scandal involving?Larry Nassar.USOC CEO Sarah Hirshland has offered USA Gymnastics the option of surrendering its status voluntarily.In an open letter Monday to the United States gymnastics community, Hirshland wrote, "We believe the challenges facing the organization are simply more than it is capable of overcoming in its current form."She told the athletes they "deserve better."CNN has reached out to USA Gymnastics for reaction.The announcement comes amid turmoil for the current governing body. Nassar is the former team doctor for USA Gymnastics.Last month, USA Gymnastics lost its second president in two months when former US Rep. Mary Bono stepped down as interim president.Bono had taken over just a month after embattled president and CEO Kerry Perry quit. Perry, who held the job for nine months, was criticized for what many people characterized as inadequate action during the Nassar abuse fallout.Bono came under fire in her first few days. In one instance, a September tweet surfaced of Bono defacing a Nike logo after Nike featured former NFL quarterback and civil rights activist Colin Kaepernick in its advertising campaign. (Nike is a major sponsor of Olympic champion Simone Biles, a megastar for USA Gymnastics.)Biles was critical of Bono. She tweeted: "don't worry, it's not like we needed a smarter usa gymnastics president or any sponsors or anything," Biles tweeted. Others also criticized Bono's tweet as being tone-deaf, saying the suppression of athletes' voices allowed Nassar's abuse to continue.Days after Bono's resignation, former USA Gymnastics head Steve Penny was arrested in connection with accusations he removed documents linked to the Nassar sexual abuse case from the Karolyi Ranch gymnastics training facility in Texas, authorities said. A judge set Penny's bail at ,000.Nassar was already serving 40 to 175 years in Michigan for sexually abusing women and girls under the guise of performing medical treatment when he was indicted in June on charges linked to allegations at the Karolyi Ranch.He faces six counts of sexual assault of a child. Meanwhile, former?USA Gymnastics trainer Deborah Van Horn is facing one count of sexual assault of a child in Texas, prosecutors said. 2403
The stock market is on the comeback trail.After another wobbly session, the Dow soared 287 points, or 1.2%, on Friday. It was the index's best day since August.The Dow had soared 400 points at the open before giving up most of those gains and then resuming its rally. The Dow lost 1,378 points over Wednesday and Thursday.The broader S&P 500 jumped 1.4% on Friday. The Nasdaq, which has taken the brunt of the recent stock market turbulence, spiked 2.3%.Despite Friday's rebound, all three major indexes suffered their worst weeks since March. And the S&P 500 is down three straight weeks. That hasn't happened since the Brexit referendum of June 2016.Investing experts weren't exactly sure what turned stocks negative by midday. The driving forces behind this week's downturn -- trade war and interest rate fears -- were around before this week, and yet market volatility is spiking."The sellers have control right now," said Justin Walters, co-founder of Bespoke Investment Group. "The scariest sell-offs are the ones you can't tie to a specific reason."Stocks had turned sharply south over the past week because investors are concerned about rising interest rates. As the Federal Reserve raises rates to keep the economy from overheating, investors have been getting out of bonds, driving down their price and driving up their yields. Suddenly, the return on bonds has become competitive with some stocks — particularly risky tech stocks.Rising interest rates also increase borrowing costs for households and businesses, eating into corporate profits."What we are seeing now is changing sands. The ground isn't stable and people are figuring out where to go next," said JJ Kinahan, chief market strategist with TD Ameritrade.Tech stocks have come under fire because they are some of the riskiest and most expensive parts of the market. Investors fear that tech companies may not hold up well in a downturn, particularly as interest rates spike. A proxy for the tech sector had its sharpest plunge in seven years on Wednesday.But Big Tech on Friday regained some of its losses. Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX) and Google (GOOGL) were all up.Asian and European markets also came back Friday. The Hang Seng soared 2.2%. Stocks in Shanghai rose 0.9% and the Nikkei rose 0.5%. Stocks in London, Germany and France all rose about a half percentage point.Markets had bounced back Friday morning following news that President Donald Trump plans to meet next month with Chinese leader Xi Jinping at the G-20 summit. That eased some of the investors' fears about another trade war escalation. China also reported its exports rose nearly 15% in September, stronger than expected. That suggests China is weathering the first waves of new tariffs that the Trump administration imposed on billion of Chinese exports this summer.But Kinahan is still worried about US-China trade talks. He thinks that a deal is key in order for the markets to get back on track, adding that a full-blown trade war could undo much of the positives from the Trump administration's pro-business policies."The concern is that if nobody blinks, it could negate all the tax cuts we had," he said.Earnings season also kicked off Friday morning, with JPMorgan (JPM) and Citigroup (C) reporting their quarterly finances before the bell. Wall Street analysts expected the financial sector to post another incredibly profitable quarter — and JPMorgan managed to?beat their already lofty expectations.In times of market turbulence, there's nothing like soaring profits to calm investors' nerves.Rebounds after disastrous market selloffs are common. Investors who think the market may be oversold look to buy stocks they think are suddenly cheap.But markets are fickle. 3804

The Washington Post has settled a libel lawsuit with Kentucky high school student Nicholas Sandmann, who was at the center of a viral video controversy in 2019.Sandmann sued several news media outlets after their coverage falsely painted his as a racist, wearing a ‘Make America Great Again’ hat during an interaction with a Native American activist near the Lincoln Memorial in Washington D.C. Judge William O. Bertelsman previously dismissed the lawsuit, but later reinstated the case, after he reviewed an amended complaint.On Friday, Sandmann celebrated the settlement on Twitter. 592
The Washington Post has published what the newspaper describes as the "last piece" written by missing Saudi journalist Jamal Khashoggi, who was allegedly killed and dismembered in his country's consulate in Istanbul earlier this month.In a note at the top of the column, published late Wednesday, Post Global Opinions editor Karen Attiah wrote that she "held off publishing it because we hoped Jamal would come back to us.""Now I have to accept: That is not going to happen," she said. "This is the last piece of his I will edit for The Post. This column perfectly captures his commitment and passion for freedom in the Arab world. A freedom he apparently gave his life for."In the piece, Khashoggi bemoaned the lack of free expression in the Arab world, leaving the majority of its population "unable to adequately address, much less publicly discuss, matters that affect the region and their day-to-day lives." 930
The racial justice movement is inspiring hope and change.Two of the oldest hate fighting and civil rights nonprofits are joining forces to build ties between Black and Jewish people.“You can’t really fight one kind of hate unless you're going to fight all of them, right, so we can’t be saying anti-Semitism is bad and not be engaged right now in this great movement to challenge systemic racism,” said Shira Goodman with Anti-Defamation League Philadelphia.The Anti-Defamation League and National Urban League are kicking off the partnership in Philadelphia.They're starting a voting rights project trying to energize young voters.They're using young leaders from both groups to recruit younger poll workers and produce mailers and social media videos encouraging people to exercise one of the greatest tools to change.“We want to be able to give people accurate information and also hold each other accountable by having a voting plan, maybe having a buddy they are going to text back and forth, ‘did you go to the polls did you request your ballot?’”Philadelphia is just the start of this partnership for equality. They're looking at future projects to promote economic empowerment, equal access to justice, update hate crime laws and address discrimination in housing and employment.“It’s building on our shared histories as Blacks and Jews of having worked together, having both struggled in America and also saying we want to not sit on that history, we want to build a new future together,” said Goodman.The partnership and focus come at critical time for minorities which tend to face more voter suppression. 1624
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