S&P 500 Hits Worst Loss of Year on Trade War Turmoil
U S stocks fell sharply as Trump threats of tariffs on Chinese goods spurred a global sell-off. The S&P 500 slid 87.31 points to 2,844.74, the Dow shed 767.27 and the Nasdaq dropped 278.03 amid worries about the China move and a slowing global economy.
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U S labels China a currency manipulator
The U S Treasury designated China a currency manipulator after Beijing let the yuan fall to an 11 year low, signaling intensified trade conflict. The move could enable new sanctions while Treasury collaborates with the IMF to counteract China’s actions. President Trump criticized Beijing on social media.
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Putin calls for urgent arms talks after INF pact demise
Russian President Vladimir Putin urged immediate U S and Russian arms talks following the end of the 1987 INF Treaty. He warned Russia would deploy new intermediate range missiles only if the United States does and pledged to monitor Washington actions, potentially matching any U S deployments. Russia denied treaty violations while accusing the U S of breaches.
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Florida man sentenced to 20 years for pipe bombs to Democrats
Cesar Sayoc, a 57 year old Florida amateur body builder and former stripper, was sentenced by U.S. District Judge Jed Rakoff to 20 years for mailing 16 pipe bombs to Hillary Clinton Joe Biden other Democrats and CNN offices. Prosecutors sought life. Sayoc apologized saying he was very sorry.
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