Monday, August 5, 2024

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1/ Global stock markets fell sharply as worries about the U.S. economy sparked a world-wide sell-off. Japan’s Nikkei plunged 12.4% for its worst day since the Black Monday crash of 1987, while the S&P 500 dropped 3% – its worst day in nearly two years – the Dow fell 2.6%, and the Nasdaq slid 3.4%. The declines – the worst three-day slide since June 2022 – extended a sell-off that started last week after a jobs report showed slower hiring and rising unemployment. In July, the U.S. added 114,000 jobs and the unemployment rate rose to 4.3%. Economists had expected the U.S. to add 175,000 jobs and keep the jobless rate steady at 4.1%. Last week, Fed officials held interest rates at a two-decade high, where they have remained for a year. Analysts now expect the Fed to cut rates at its next three meetings in September, November, and December, with some demanding an emergency cut now. (Bloomberg / CNBC / Wall Street Journal / CNN / Associated Press / Washington Post / New York Times / NPR / Axios)

2/ After weeks of being noncommittal over the Sept. 10 ABC News debate he previously agreed to, Trump said he’ll instead debate Harris on Fox News – or not at all. “I’ll see her on September 4th or, I won’t see her at all,” Trump said, claiming the previously scheduled presidential debate was “terminated” once Biden dropped out of the race. Harris responded, saying it’s “interesting how ‘any time, any place’ becomes ‘one specific time, one specific safe space.’” The Harris campaign added that Trump was “running scared and trying to back out of the debate he already agreed to,” and was now expecting Fox News to “bail him out.” (NPR / CNN / Associated Press / CNBC / Washington Post / Politico / New York Times / ABC News)

3/ Justice Clarence Thomas failed to publicly disclose additional private travel provided by Republican megadonor Harlan Crow in 2010. According Customs and Border Protection records, Thomas and his wife, Ginni Thomas, flew from Hawaii to New Zealand on Crow’s jet on Nov. 19, 2010, and then returned on the jet a week later. The flight, however, was not listed on Thomas’ financi...

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