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The rumors are true - our entomologists located the first-ever #AsianGiantHornet nest in the U.S. late yesterday. Press conference at 2 p.m. pic.twitter.com/oXuE6urXff— WA St Dept of Agr (@WSDAgov) October 23, 2020 222

The US stock market sank deeper into the red following sluggish economic reports on Monday and bad news from a couple of blue-chip giants.The Dow fell 600 points by late afternoon, or 2.6%. The S&P 500 lost 2.6% and retreated to its lowest level of the year. And the Nasdaq joined the Dow & S&P 500 in negative territory for 2018. All three indexes have plunged about 7% so far this December.The Dow closed down 507 points for the day.And the Russell 2000 index of small-cap stocks tumbled into a bear market, marking a 20% decline from the record highs notched in late August.A weaker reading from the New York Federal Reserve about manufacturing in the Empire State and a drop in confidence from the nation's homebuilders weighed on the markets."Investors are zeroing in on this idea of slower growth for 2019," said Michael Arone, chief investment strategist at State Street Global Advisors. "More people are worried about a recession in late 2019 or 2020."The political noise in Washington isn't helping either. President Trump, in a tweet Monday morning, repeated his criticism of the Federal Reserve for its recent rate hikes. The Fed meets Wednesday and is widely expected to raise rates again.But Trump tweeted that "it is incredible that with a very strong dollar and virtually no inflation, the outside world blowing up around us, Paris is burning and China way down, the Fed is even considering yet another interest rate hike. Take the Victory!"The Fed is supposed to be politically independent. Any evidence that it might be swayed by attacks from Trump could unnerve the markets."If the Fed doesn't raise rates it will look like it's succumbing to the bullying of Trump's tweets," Arone said.But Nancy Perez, managing director at Boston Private, said the Fed is likely to slow down its pace of rate hikes in 2019 simply because the economy is slowing, not because of pressure from Trump.Perez added that the recent market turmoil is justified because investors are readjusting to this fact."We have been getting a bump in profit margins due to lower taxes but the earnings growth itself is not sustainable," Perez said. "Projections will come down and volatility will continue." 2247

The weather at the beginning of November and the end of October are going to look very different across the country.Temperatures in the eastern half of the country, except the Northeast, took a big drop and even saw some snow. At the same time, the West Coast was dealing with some record-breaking heat. 311

The U.S. has now surpassed 17 million confirmed cases of COVID-19 and has yet again recorded more than 1 million cases of the virus in less than a week, according to a database kept by Johns Hopkins University.The U.S. reached the 16 million case threshold over the weekend. According to the COVID Tracking Project, the country is averaging more than 200,000 new cases of the virus every day, putting it on pace to record 1 million cases every five days.Since Oct. 30, the U.S. has recorded more than 8 million cases of COVID-19 — a number that represents 47% of all cases recorded since the virus reached the U.S. in January. The U.S. is currently in the midst of the most deadly stretch of the pandemic to date. The country surpassed 300,000 deaths linked to the virus on Monday. Since then, nearly 8,000 more people have died of the disease.The COVID Tracking Project reports that the U.S. has averaged more than 2,500 deaths every for the last week — and that number will likely increase in the weeks to come. The COVID Tracking Project also reports that record numbers of Americans are battling the virus in a hospital. The group says more than 113,000 people are currently hospitalized with the virus, leading many health care facilities — particularly those in rural areas — to reach maximum capacity levels.Spikes in COVID-19 typically trail behind spikes in cases and hospitalizations, meaning death totals will likely only increase in the weeks to come. 1481

The Trump administration plans to eliminate routine audits of lenders for violations of the Military Lending Act, according to internal agency documents, The New York Times reported on Friday.Mick Mulvaney, the interim director of the Consumer Financial Protection Bureau, plans to terminate the supervisory examinations of lenders, arguing proactive oversight is not laid out in the legislation, according to the report.The proposal to weaken oversight under the Military Lending Act, which was created to protect military service members and their families from financial fraud, predatory loans and credit card gouging, came as a surprise to advocates of military families, the report stated. Those advocates have pressed the government to put a stop to unethical lenders.The agency has been critical in fighting lender misconduct, rolling out mortgage and payday-lender rules and cracking down on bad behavior by penalizing Citigroup, Wells Fargo and many other lenders.In lieu of conducting examinations, the agency will rely on complaints from its websites, hotlines, the military and people who believe they are victims of fraud, the Times reported.President Donald Trump has tapped Kathleen Kraninger to succeed Mulvaney as chief of the consumer watchdog agency. Kraninger, who works under Mulvaney, is expected to face a tough Senate confirmation battle.Under Mulvaney, the bureau has undergone major changes opposed by both Democrats and consumer advocates. In June, Mulvaney effectively terminated a board of advocates who advised the agency about fair lending and underserved communities. The advisers were told on a conference call that the board would not meet until new members were appointed. The CFPB, however, insisted nobody had been fired.The government watchdog agency, which is charged with consumer protection in the financial sector, was created after the financial crisis with the passage of the 2010 Dodd-Frank Act. 1948

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