Category Archives: World/National

US stocks sink under the weight of rising pressure from the bond market

US stocks sink under the weight of rising pressure from the bond market

NEW YORK (AP) — Wall Street fell under the weight of pressure from the bond market. The S&P 500 slipped 0.7% Tuesday. The Dow Jones Industrial Average lost 0.5%, and the Nasdaq composite dropped 0.8%. Big Tech stocks that have received criticism after their prices shot higher in recent years were the heaviest weights on the market. Rising yields in the bond market cranked up the pressure for all kinds of stocks. Worries about mounting debt loads for governments worldwide, plus President Donald Trump’s attacks on the Federal Reserve, have pushed yields higher. When bonds pay more interest, investors are less willing to pay high prices for stocks.… Continue Reading

North Korea’s Kim Jong Un travels to Beijing to watch military parade alongside Putin and Xi Jinping

North Korea’s Kim Jong Un travels to Beijing to watch military parade alongside Putin and Xi Jinping

SEOUL, South Korea (AP) — North Korean leader Kim Jong Un is on his way to Beijing by train to attend a military parade with his Chinese and Russian counterparts, an event that could demonstrate their potential three-way unity against the United States. The North’s official Korean Central News Agency reported early Tuesday that Kim left Pyongyang for Beijing by his special train on Monday to participate in celebrations of the 80th anniversary of the end of the World War II. Kim and Russian President Vladimir Putin are among the 26 world leaders who’ll join Chinese President Xi Jinping to watch Wednesday’s massive military parade in Beijing.… Continue Reading

Trump plans a hefty tax on imported drugs, risking higher prices and shortages

Trump plans a hefty tax on imported drugs, risking higher prices and shortages

WASHINGTON (AP) — President Donald Trump has plastered taxes on products from almost every country on earth. He’s targeted specific imports, too. But he isn’t done yet. Trump has promised another round of hefty import taxes on a category of products he’s so far spared in his trade war with the world: pharmaceuticals. For decades, in fact, imported medicine has mostly been allowed to enter the United States duty free. Now the president is threatening duties of 200% or more on foreign drugs. That could disrupt complex and fragile supply chains, drive cheap foreign-made generic drugs out of the U.S., create drug shortages and raise American drug prices.… Continue Reading

Stocks pull back from their latest all-time highs on Wall Street

Stocks pull back from their latest all-time highs on Wall Street

Stocks lost ground on Wall Street a day after the market hit its latest all-time highs. The S&P 500 fell 0.6% Friday. The index ended August up 1.9%, its fourth straight month of gains. The Dow Jones Industrial Average fell 92 points, or 0.2%. The Nasdaq composite fell 1.2%. Treasury yields were mixed in the bond market. The government said prices mostly held steady last month. European markets were mostly lower and Asian markets closed mixed. U.S. markets will be closed on Monday for the Labor Day holiday.… Continue Reading

Trump ends ex-Vice President Harris’ Secret Service protection early after Biden had extended it

Trump ends ex-Vice President Harris’ Secret Service protection early after Biden had extended it

WASHINGTON (AP) — President Donald Trump has revoked former Vice President Kamala Harris’ Secret Service protection that otherwise would’ve ended next summer. That’s according to senior Trump administration officials. Former vice presidents typically get federal government protection for six months after leaving office, while ex-presidents do so for life. But another person familiar with the matter says then-President Joe Biden quietly signed a directive, at Harris’ request, that had extended protection for her. The people insisted on anonymity Friday to discuss a matter not made public. Trump is a Republican. Biden and Harris are Democrats. Trump defeated Harris in the presidential election last year after Biden dropped out of the contest and Harris replaced him.… Continue Reading

Trump ends ex-Vice President Harris’ Secret Service protection early after Biden had extended it

Trump ends ex-Vice President Harris’ Secret Service protection early after Biden had extended it

WASHINGTON (AP) — President Donald Trump has revoked former Vice President Kamala Harris’ Secret Service protection that otherwise would’ve ended next summer. That’s according to senior Trump administration officials. Former vice presidents typically get federal government protection for six months after leaving office, while ex-presidents do so for life. But another person familiar with the matter says then-President Joe Biden quietly signed a directive, at Harris’ request, that had extended protection for her. The people insisted on anonymity Friday to discuss a matter not made public. Trump is a Republican. Biden and Harris are Democrats. Trump defeated Harris in the presidential election last year after Biden dropped out of the contest and Harris replaced him.… Continue Reading

Trump proposed getting rid of FEMA, but his review council seems focused on reforming the agency

Trump proposed getting rid of FEMA, but his review council seems focused on reforming the agency

President Donald Trump has floated the idea of “getting rid of” the Federal Emergency Management Agency, which manages federal disaster response. But at a Thursday meeting, the 12-person review council he appointed to propose changes to FEMA seemed more focused on reforms than total dismantlement. The meeting in Oklahoma City offered hints of what types of reforms the council might present to Trump in its final report. Members mainly focused on conventional and oft-cited opportunities for change, such as getting money faster to states and survivors and enhancing the capacity of local emergency managers.… Continue Reading

FDA approves updated COVID-19 shots but limits access for some kids and adults

FDA approves updated COVID-19 shots but limits access for some kids and adults

WASHINGTON (AP) — The Food and Drug Administration has approved updated COVID-19 vaccines for the upcoming fall and winter season. But it could be weeks before many Americans know whether they’ll be able to get one, under new restrictions from the Trump administration. The new shots from Pfizer, Moderna and Novavax target a newer version of the coronavirus. They are approved for all seniors but only for younger adults and children with at least one underlying health problem, like obesity. Additionally, U.S. officials revoked use of Pfizer’s vaccine in young children.… Continue Reading

Trump extends control over Washington by taking management of Union Station away from Amtrak

Trump extends control over Washington by taking management of Union Station away from Amtrak

WASHINGTON (AP) — President Donald Trump’s administration is taking control of Washington’s Union Station from Amtrak, marking another federal intervention in the nation’s capital. Transportation Secretary Sean Duffy announced the move Wednesday during the launch of the NextGen Acela high-speed train. Duffy says Union Station has “fallen into disrepair” when it should be a “point of pride” for the city, where Trump’s Republican administration has increased federal law and immigration enforcement. Duffy echoes Trump’s call for $2 billion from Congress to beautify Washington as part of his crackdown on the city. National Guard troops have been patrolling Union Station, which is walking distance from the Capitol.… Continue Reading

Some FEMA staff are put on leave after signing dissent letter

Some FEMA staff are put on leave after signing dissent letter

Some employees of the Federal Emergency Management Agency who signed a public letter of dissent earlier this week were put on administrative leave Tuesday evening. That’s according to documents reviewed by The Associated Press. More than 180 current and former FEMA employees signed the letter sent to the FEMA Review Council and Congress on Monday critiquing recent cuts to agency staff and programs, and warning that FEMA’s capacity to respond to a major disaster was dangerously diminished. The AP has confirmed that at least two of the signatories received notices Tuesday evening informing them they would be placed on leave indefinitely. FEMA did not immediately respond to questions on how many staff were put on leave.… Continue Reading

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