United States

Subterms

    More stories

    • 113 Shares169 Views

      in Elections

      What Is a Bear Market? Are We in One?

      by

      President Trump’s global tariffs have sent stock markets worldwide into a tailspin, and the S&P 500 on Monday entered bear market territory for the first time since 2022.Mr. Trump has seemed unmoved by the decline. He signaled on Monday that he had no plans to back off on tariffs, insisting that they would bring in “billions of dollars” in revenue and that other countries had been “abusing” the United States with their trade policies.Here is what to know about a bear market.What is a bear market?A bear market is a Wall Street term for a sustained market downturn, when a stock index falls 20 percent from its last peak.The 20 percent threshold signals investor pessimism about the future of the economy.Are we in a bear market now?The S&P 500, the benchmark U.S. stock index, opened lower on Monday. The index was already down 17.4 percent from its last high, on Feb. 19, and if it closes Monday’s trading with a loss of at least 3.1 percent, that would tip it into a bear market.Analysts at Morgan Stanley have warned that an even steeper drop is possible. Goldman Sachs on Monday slashed its forecast for economic growth, citing a growing risk of a U.S. recession next year.The Nasdaq Composite Index, as well as the Russell 2000 index of smaller companies that are more vulnerable to the economic outlook, are already in a bear market.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

    • 100 Shares179 Views

      in Elections

      A Second Child Dies of Measles in Texas

      by

      It is the second confirmed measles death in the U.S. in a decade. If the outbreak continues at the current pace, the nation may lose its “elimination” status.The measles crisis in West Texas has claimed the life of another child, the second death in an outbreak that has burned through the region and infected dozens of residents in bordering states.The 8-year-old girl died early Thursday morning of “measles pulmonary failure” at a hospital in Lubbock, Texas, according to records obtained by The New York Times. It is the second confirmed measles death in a decade in the United States.The first was an unvaccinated child who died in West Texas in February. Another unvaccinated person died in New Mexico after testing positive for measles, though officials have not yet confirmed that measles was the cause of death.A Trump administration official said on Saturday night that the girl’s cause of death is “still being looked at.” Since late January, when the outbreak began, West Texas has reported 480 cases of measles and 56 hospitalizations. The outbreak has also spread to bordering states, sickening 54 people in New Mexico and 10 in Oklahoma.If the virus continues to spread at this pace, the country risks losing its measles elimination status, a hard-fought victory earned in 2000. Public health officials in West Texas have predicted the outbreak will continue for a year.Robert F. Kennedy, the nation’s health secretary, has faced intense criticism for his handling of the outbreak. A prominent vaccine skeptic, he has offered muted support for vaccination and has emphasized untested treatments for measles, like cod liver oil.According to doctors in Texas, Mr. Kennedy’s endorsement of alternative treatments has contributed to patients delaying critical care and ingesting toxic levels of vitamin A.Experts also fear that the Trump administration’s recent decisions to dismantle international public health safeguards and pull funding from local health departments have made large, multistate outbreaks more likely.Measles is one of the most contagious pathogens. The virus can linger in the air for up to two hours after an infected person has left the room and spreads when a sick person breathes, coughs or sneezes.Within a week or two of being exposed, those who are infected may develop a high fever, cough, runny nose and red, watery eyes. Within a few days, a telltale rash breaks out as flat, red spots on the face and then spreads down the neck and torso to the rest of the body.In most cases, these symptoms resolve in a few weeks. But in rare cases, the virus causes pneumonia, making it difficult for patients, but especially children, to get oxygen into their lungs.It may also cause brain swelling, which can leave lasting problems, like blindness, deafness and intellectual disabilities.For every 1,000 children who get measles, one or two will die, according to the Centers for Disease Control and Prevention. The virus also harms the body’s immune defenses, leaving it vulnerable to other pathogens.Christina Jewett More

    • 75 Shares129 Views

      in Elections

      The Theories Behind the Trump Shock

      by

      There are two related theories of what Donald Trump’s dramatic revision of the global trade system is intended to accomplish.First, the goal is to revitalize American manufacturing, our capacity to build at home and export to the world. The global free trade system that took shape in the late 20th century served the American empire and American G.D.P. but at the expense of America’s earlier role as a manufacturing powerhouse — and because manufacturing jobs were such an important source of blue-collar male employment, at the expense of the working-class social fabric.Meanwhile, over time, our manufacturing base didn’t just move overseas, it moved into the territory of our greatest rival, the People’s Republic of China. So rebuilding industry in America has two potential benefits even if it sacrifices some of the efficiencies offered by global trade. Factory jobs fill a particular socioeconomic niche that’s been filled instead by drugs, decline, despair. And having a real manufacturing base is essential if we’re going to be locked into great power competition for decades to come.Under this theory, though, it would seem like tariffs would be most effectively deployed against China, countries in China’s immediate economic orbit, and developing countries that are natural zones for outsourcing. But the Trump administration has deployed them generally, against peer economies and allies. The policy seems much more sweeping than the goal, the potential damage to both growth and basic international comity too large to justify the upside.Which is where the second argument comes in — that this policy is about fiscal deficits, not just trade deficits and manufacturing. The same global system that made America a net importer also enabled us to borrow immense sums, but we are reaching the point where that borrowing cannot be sustained, where interest rates on the debt will crush our policymaking capacities even if there isn’t an overall flight from the dollar.Here tariffs serve several purposes. Most straightforwardly they generate revenue without striking the kind of grand bargain on Medicare and taxes that the two parties are just too polarized to make. (The only way a Republican president can preside over tax increases is to implement them unilaterally while insisting that they will fall mostly on foreigners.)We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

    • 138 Shares139 Views

      in Elections

      Man Employs A.I. Avatar in Legal Appeal, and Judge Isn’t Amused

      by

      The use of a video persona created with artificial intelligence software to help make an argument earns a stern rebuke.Jerome Dewald sat with his legs crossed and his hands folded in his lap in front of an appellate panel of New York State judges, ready to argue for a reversal of a lower court’s decision in his dispute with a former employer.The court had allowed Mr. Dewald, who is not a lawyer and was representing himself, to accompany his argument with a prerecorded video presentation.As the video began to play, it showed a man seemingly younger than Mr. Dewald’s 74 years wearing a blue collared shirt and a beige sweater and standing in front of what appeared to be a blurred virtual background.A few seconds into the video, one of the judges, confused by the image on the screen, asked Mr. Dewald if the man was his lawyer.“I generated that,” Mr. Dewald responded. “That is not a real person.”The judge, Justice Sallie Manzanet-Daniels of the Appellate Division’s First Judicial Department, paused for a moment. It was clear she was displeased with his answer.“It would have been nice to know that when you made your application,” she snapped at him.“I don’t appreciate being misled,” she added before yelling for someone to turn off the video.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

    • 150 Shares169 Views

      in Elections

      Trump Administration Sends Harvard a List of Demands to Protect Federal Funds

      by

      The Trump administration sent Harvard a list of demands on Thursday that would have to be met to end a government review of $9 billion the school receives in federal funding.The government announced the review earlier this week, which threatened to cancel all or some of the money as part of its campaign against what it views as unchecked antisemitism on campuses.The conditions largely follow the playbook the Trump administration used to force Columbia University to comply with its demands last month, after canceling $400 million of that school’s federal grants and contracts. In both instances, the government asked Harvard and Columbia to impose bans, with few exemptions, on masking.Pro-Palestinian students often used masks during protests against the war in Gaza to obscure their identities after many said they were harassed online when their personal information was revealed.The Trump administration also pressured the universities to intensify efforts to hold student groups “accountable,” cease admissions practices based on race, color or national origin and revamp policies on campus protests.Harvard would also be required to “commit to full cooperation” with the Department of Homeland Security, the agency that enforces immigration policies, including deportations.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

    • 75 Shares189 Views

      in Elections

      Where Trump’s Tariffs Will Hit Hardest

      by

      <!–> [–><!–> –> <!–> –><!–> [–><!–>Many of the worst-hit countries are close American allies and partners. In Southeast Asia, countries like Vietnam, Thailand and Cambodia have for years worked to turn themselves into alternatives to China for factories making the bags, electronics, shoes and auto parts that eventually end up in the United States. Now, […] More

    • 138 Shares169 Views

      in Elections

      U.S. Seeks to Calm Tempest in Europe Over Trump’s Anti-Diversity Policies

      by

      The U.S. State Department is seeking to quell a diplomatic tempest roiling Europe this week after American embassies in several countries sent letters to foreign contractors instructing them to certify their compliance with President Trump’s policies aimed at unraveling diversity programs.The letters, directed at companies in France, Spain, Denmark, Belgium and elsewhere that have contracts with the U.S. government, rankled European companies and officials, who are pushing back at what they described as a pressure campaign by the Trump administration to impose anti-diversity policies abroad.Late Tuesday, the State Department tried to walk back the letters, saying that the compliance requirement applies to companies only if they were “controlled by a U.S. employer” and employ U.S. citizens. That contradicted the details in the embassy letters, which said that Mr. Trump’s D.E.I.-quashing orders applied to all suppliers and contractors of the U.S. government, regardless of their nationality and the country in which they operate.The State Department’s statement repeated much of the letters’ content. It said that American embassies and missions worldwide were reviewing their contracts and grants to ensure that they were consistent with an executive order Mr. Trump signed the day after taking office. The order instructs federal contractors not to engage in diversity, equity and inclusion programs, which it described as “illegal discrimination.”The State Department said that the embassy letter “only asks contractors and grantees around the world to certify their compliance with applicable U.S. federal anti-discrimination laws.”“⁠There is no ‘verification’ required beyond asking contractors and grantees to self-certify their compliance’,” its statement said. “In other words, we are just asking them to complete one additional piece of paperwork.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More