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☆ Jordan Chiles case won’t be reconsidered, CAS tells USA Gymnastics
▼ + stars: | 2024-08-12 | by ( Mark Cooper | Tess Demeyer | ) www.nytimes.com time to read: +2 min

The Court of Arbitration for Sport on Monday rejected USA Gymnastics’ request to reopen the case into the Olympic gymnastics women’s floor exercise scoring, one day after the International Olympic Committee said Jordan Chiles’ bronze medal would be reallocated to Ana Bărbosu of Romania. AdvertisementThat led the International Gymnastics Federation to amend its floor exercise standings, dropping Chiles to fifth, and prompted the IOC to adjust its medals accordingly. USA Gymnastics, however, said Sunday it received video evidence showing the coach, Cecile Landi made the appeal 47 seconds after Chiles’ score was posted — 13 seconds within the window — and it submitted the evidence to CAS for review. But Landi submitted an inquiry to challenge the difficulty score of Chiles’ routine. Its ruling invalidated Chiles’ score.

Persons: Jordan Chiles ’, Ana Bărbosu, Chiles, —, Cecile Landi, Bărbosu, Sabrina Maneca, Landi, Alex Gottschalk Organizations: Sport, Monday, International Olympic, International Gymnastics Federation, IOC, USA, Swiss, Tribunal, Swiss Federal Tribunal, Jordan Locations: Romania, Romanian

☆ Jordan Chiles: US gymnast stripped of bronze medal in floor exercise
▼ + stars: | 2024-08-11 | by ( Ben Morse | ) edition.cnn.com time to read: +3 min

CNN —The International Olympic Committee (IOC) announced on Sunday that the bronze medal given to American gymnast Jordan Chiles in the floor exercise at the Paris Games will be awarded to her Romanian counterpart Ana Bărbosu. And the IOC confirmed that the score change will mean Chiles will be stripped of her bronze and given to Bărbosu. Ana Bărbosu reacts after competing in the women's floor exercise. Immediately after the competition finished on Monday with Chiles’ routine, Bărbosu thought she had won the bronze medal after posting a score of 13.700. However, CAS’ ruling that the inquiry submitted on behalf of Chiles “was raised after the conclusion of the one-minute deadline” stipulated in the regulations threw Chiles’ medal into doubt.

Persons: Jordan Chiles, Ana Bărbosu, Chiles, Ana Barbosu, “, Jordan, Jamie Squire, Rebeca Andrade, Simone Biles, Andrade, Chiles “, ” CNN’s Issy Ronald, Jacob Lev, Homero De La Fuente, Dan Moriarty Organizations: CNN, Olympic Committee, Paris Games, Sport, USA, Gymnastics Federation, IOC, International Gymnastics Federation, NOC, Paralympic, FIG, Games Locations: Romanian, Romania, ”, “

☆ Jordan Chiles to lose Olympic bronze medal after court overturns score change
▼ + stars: | 2024-08-11 | by ( Zack Pierce | ) www.nytimes.com time to read: +3 min

“The IOC will reallocate the bronze medal to Ana Bǎrbosu (Romania),” the statement said. But her coach, Cecile Landi, submitted an inquiry to challenge the difficulty score Chiles had received. The court agreed, invalidating Chiles’ score, and the International Gymnastics Federation, known as FIG, then announced that it had officially changed the ranking of the competition, putting Chiles back in fifth place. “The inquiry into the Difficulty Value of Jordan Chiles’ floor exercise routine was filed in good faith and, we believed, in accordance with FIG rules to ensure accurate scoring,” the statement said. AdvertisementA few days later, she was in the floor exercise final.

Persons: Jordan Chiles ’, Ana Bǎrbosu, Chiles, Cecile Landi, Sabrina Maneca, Landi, Jordan Chiles, Jordan, ” Chiles, “, ” Simone Biles, Naomi Baker, Simone Biles, Sunisa Lee, Lee, She’s, — Organizations: Paris Games, International Olympic, National Olympic, Sport, International Gymnastics Federation, U.S, Olympic, Paralympic Committee, Disneyland Paris Locations: Romania, Bǎrbosu, ”

☆ U.S. gymnast Jordan Chiles could lose bronze medal after sports arbitration officials rule on appeal
▼ + stars: | 2024-08-10 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Kaetlyn-Liddy-Byline-Jm.Jpg | Kaetlyn Liddy | ) www.nbcnews.com time to read: +4 min

U.S. gymnast Jordan Chiles might lose her bronze medal. She had placed fifth before the inquiry, behind both Romanians, but received a tenth back on her final score, boosting her onto the podium. In one, the team asked that the 0.1 point penalty for stepping out of bounds on Maneca-Voinea's final score be returned because it was "given without basis." It also requested that Chiles, Maneca-Voinea and Bărbosu all be placed in third and earn bronze medals. If she had not received the deduction, Maneca-Voinea would have scored higher than Bărbosu and Chiles, even after Chiles' score was increased on appeal.

Persons: Jordan Chiles, Chiles, —, Chiles —, it’s, ”, Sabrina Maneca, Ana Bărbosu, Rebeca Andrade, Simone Biles, “, Jordan, she's, Nadia Comăneci, Voinea, Comăneci, Marcel Ciolacu, ” Ciolacu Organizations: Sport, International Gymnastics Federation, USA, U.S, Olympic, Paralympic Committee, Tokyo Games, NBC, Paris, Facebook, Romanian Olympic, Sports Committee Locations: Romanian, U.S, Brazil, Maneca, Romania

☆ American gymnast Jordan Chiles’ bronze medal in floor exercise in doubt after CAS ruling
▼ + stars: | 2024-08-10 | by ( Issy Ronald | Jacob Lev | ) edition.cnn.com time to read: +3 min

CNN —The Court of Arbitration for Sport (CAS) ruled on Saturday that the initial inquiry made by the USA over Jordan Chiles’ score in Monday’s gymnastics floor exercise final was filed after the one-minute deadline. That means that Chiles’ score is being reverted to the original 13.666, which was only good enough for fifth place. It’s unclear as of Saturday what that means for the bronze medal that Chiles was awarded. Immediately after the competition finished on Monday with Chiles’ routine, Romanian gymnast Ana Bărbosu thought she had won the bronze medal after posting a score of 13.700. CNN has reached out to the FIG to ask what their ruling will be on whether Chiles’ medal will be revoked.

Persons: Jordan Chiles, Chiles, Ana Bărbosu, Rebeca Andrade, Simone Biles, Andrade, Chiles “, ”, Sabin Gherdan, Marcel Ciolacu, Ciolacu, Ana Bǎrbosu, Sabrina Maneca, Bǎrbosu, Voinea, ” Chiles Organizations: CNN, Sport, USA, Jordan Chiles ’, Games, International Gymnastics Federation, FIG, Olympic, Paralympic Committee, Federation, Olympic Games Locations: Romanian, ”, Paris, “

The S&P 500 advanced 0.47% to finish at 5,344.16. This week marked the most volatile week of 2024 for the market. The Dow on Monday tumbled 1,000 points, while the S&P 500 lost 3% for its worst day since 2022. At the Monday lows, the S&P 500 was down nearly 10% from its recent all-time high. It is not just equity markets that have had a volatile week.

Persons: Stocks, Spencer Platt, Jay Hatfield, ” Hatfield Organizations: Nasdaq, Dow Jones, Dow, Federal Reserve, New York Stock Exchange, Wall, Treasury, Capital Locations: U.S, unwind, Hatfield, “

☆ Markets saw a massive shift this week. Here’s what happened
▼ + stars: | 2024-08-09 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

New York CNN —After a prolonged period of calm, financial markets went into a tailspin this week. One trigger for the selloff was the unraveling of the Japanese yen carry trade. Some investors say there could be more volatility to come, particularly since it’s unclear how much more the yen carry trade could unwind. The carry trade is “enormous. The unwinding of the carry trade and weak labor data came at a delicate time rife with uncertainty for Wall Street.

Persons: Wharton, Jeremy Siegel, Siegel, ”, Steve Sosnick, Joe Biden, Donald Trump, Dow, Liz Young Thomas Organizations: New, New York CNN, Nikkei, Dow, Nasdaq, Bank of Japan, Companies, Federal Reserve, Investors, CNBC, Interactive Brokers, Markets, Republican, Home Depot, Walmart Locations: New York, Israel, Ukraine, Russia

☆ Stocks close lower as Wall Street struggles to stage a comeback
▼ + stars: | 2024-08-07 | by ( Krystal Hur | ) edition.cnn.com time to read: +2 min

New York CNN —US stocks wavered Wednesday, giving back earlier gains as investors tried to recover from the week’s bruising losses. The Dow fell 234 points, or 0.6%, after gaining more than 400 points earlier in the day. CNN’s Fear & Greed Index, which measures seven barometers of market sentiment, closed in “extreme fear” territory. The Cboe Volatility Index — Wall Street’s fear gauge — which measures bets on expected stock market volatility, fell to 27. The Magnificent Seven companies lost $615.6 billion in value on Monday, according to S&P Global data.

Persons: Dow, ”, Sean Frank Organizations: New, New York CNN, Nasdaq, . West Texas, Brent, Dow, Cloud Equity Group Locations: New York, Japan

☆ The stock market is panicking, but you don’t have to
▼ + stars: | 2024-08-06 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

To be sure, the carnage on Wall Street and in equities markets around the world was real. But Monday’s panic was the Wall Street equivalent of a tantrum from a kid who just got told they can’t have ice cream for dinner. But don’t let the stock market drama fool you: The US economy is still in good shape, despite some turbulence. “And I’m not too worried about Wall Street becoming poor.”Stocks looked to bounce back Tuesday. Wall Street worked itself into a lather when ChatGPT came out two years ago.

Persons: CNN Business ’, Stocks, Dow, Wall, don’t, Rana Foroohar, That’s, it’s, Goldman Sachs, ”, Jan Hatzius, ” Goldman, There’s, Beryl, “, Beryl didn’t, Aaron Sojourner, ’ ”, ChatGPT, Rob Haworth, ” Haworth Organizations: CNN Business, New York CNN, CNN, Nikkei, of Labor Statistics, Coast, BLS, WE Upjohn, Employment Research, White House Council, Economic Advisers, Fed, Federal, Markets, Big Tech, Nvidia, Microsoft, Wall, Bank of Japan, US Bank Locations: New York, Japan

Top NewsA rocket attack targeting U.S. personnel housed at a base in Iraq’s western desert injured several American troops late on Monday, according to U.S. defense officials. Initial reports were that at least five people were injured in Monday’s attack and that the wounded included both U.S. troops and contractors. Those Iraqi militants have typically attacked U.S. forces in Iraq and Syria and targeted Israel using longer-range rockets. The chief goal of Iran-backed groups in Iraq is to force the U.S. troops to leave the country entirely. There are about 2,500 American troops in Iraq, as well as 900 in Syria, where the Islamic State has once again become active.

Persons: Ismail Haniyeh, Fuad Shukr, Israel, Haniyeh’s, Biden, Kamala D, Harris, Asad, — Organizations: Asad, Asad Air Base, U.S, Hamas, Mr, Iraqi, Iran’s Revolutionary Guards Corps, Revolutionary Guard, Al Asad, Al Asad Air Base, Pentagon, Islamic Locations: Ain, Asad Air, Iran, Gaza, U.S, Syria, Israel, Tehran, Beirut, Yemen, Iraq, Damascus, Al Asad Air, Islamic State, Jurf al, Baghdad

☆ What to watch at the Olympics today: Elimination games for U.S. women’s soccer and men’s basketball
▼ + stars: | 2024-08-06 | by ( Lauren Merola | ) www.nytimes.com time to read: +7 min

There are six days of Olympic competition left and only four women’s soccer teams remain vying for gold. It’s also win or go home for the U.S. men’s basketball team, which went undefeated in pool play to emerge as the No. Trinity Rodman celebrates with Emily Fox after scoring the winning goal against Japan during the women’s quarterfinals of the Paris Games. Durant needs just four more points to become USA Basketball’s all-time leading scorer at the Olympics for both the men’s and women’s programs. The men’s long jump final, men’s 1,500-meter final, women’s 3,000-meter steeplechase and women’s 200-meter final close out a five-medal day in athletics.

Persons: It’s, Trinity Rodman, Emily Fox, Brad Smith, Rodman, Mallory Swanson, Sophia Smith —, Kevin Durant, Anthony Edwards, LeBron James, Durant, Lisa Leslie, Jayson Tatum, Steve Kerr, Holiday, Long, DeAnna Price, Annette Echikunwoke, Echikunwoke, Price, Poland’s Anita Wlodarczyk, Saint Lucia’s Julien Alfred —, Gabby Thomas, Wally Skalij, Sara Hughes, Kelly Cheng, Tanja Hüberli, Nina Brunner, Hughes, Cheng, Italy’s Valentina Gottardi, Marta Menegatti, Alexandra Klineman, Ross, Kerri Walsh Jennings, Jennings, Misty, Treanor, elly C heng!, E, mpics & Organizations: U.S, Japan, Paris Games, Getty, USA Network, Telemundo, United, Canada, Tokyo, Lyon, Germany, Trinity, USA, Bercy Arena, Team USA, NBA, Puerto Rico, Olympics, thwarts, Brazil, NBC, Stade de France, Olympic, Rio Games, Don’t, Eiffel, Los Angeles Times, Swiss, ris Locations: United States, Germany, Paris, U.S . Japan, Japan, Lille, Serbia, South Sudan, Puerto Rico, Brazil, France, USA, thwarts Puerto Rico, U.S, Tokyo, Canada, Rio

☆ Markets rebounding after Monday’s carnage, but will it last?
▼ + stars: | 2024-08-06 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Markets around the world are getting some relief after the steep declines suffered Monday. Japan's Nikkei 225 surged more than 10% overnight — its biggest one-day gain since 2008 — clawing back some of its losses from the previous session. In the U.S., stock futures pointed to slight gains at the open. It might be an easier call if it was October, but we frankly struggle to think of many markets that have put in their corrective lows in early-August," Verrone wrote. The Cboe Volatility Index (VIX) , Wall Street's preferred fear gauge, remained elevated around 32, though it was down 16% in morning trade.

Persons: Morgan Stanley, Trump, Thomas Salopek, Chris Verrone, Verrone, Wall Street's Organizations: Japan's Nikkei, Dow Jones Industrial, Taiwan Semiconductor Locations: U.S, Coinbase

☆ Olympics recap: What you missed in gymnastics, track and field, soccer and more
▼ + stars: | 2024-08-05 | by ( Rohan Nadkarni | Rohan Nadkarni Is A Sports Reporter For Nbc News. | ) www.nbcnews.com time to read: +5 min

Day 10 of the Olympics brought us Simone Biles’ final competition in Paris, a big day for Americans on the track, not one but two important soccer matches and much more. Women’s gymnasticsArtistic gymnastics at the Paris Olympic Games came to a dramatic end Monday, as Biles was edged out for the gold medal in the floor exercise final. Monday’s silver on floor exercise was an 11th Olympic medal for Biles. Sweden’s Armand “Mondo” Duplantis set a world record in men’s pole vault Monday, adding to his stash of gold medals. The hosts and Egypt were deadlocked at 1 before France scored two goals in extra time to secure a spot in the gold medal match.

Persons: Simone Biles ’, Larisa Latynina’s, Brazil’s Rebeca Andrade, Biles, ”, medaled, that’s, ” “, Jordan Chiles, Chiles, “, ” Chiles, Gabby Thomas, McKenzie Long, Brittany Brown, Thomas, Lucia’s Julien Alfred, Alfred, Guy, Armand “ Mondo, Duplantis, Sam Kendricks, Greece’s Emmanouil Karalis, Juanlu Sanchez, Taryn Kloth, Kristen Nuss, Nuss, ” Kloth, Kristen, What’s Organizations: Paris Olympic, Olympic Games, France, Olympics, U.S, Canada, Brazil Locations: Paris, Tokyo, St, Spain, France, Morocco, Egypt, Canada, Italy, Brazil

☆ Secretaries of State say X's AI shared false election information
▼ + stars: | 2024-08-05 | by ( Kevin Breuninger | ) www.nbcnews.com time to read: +3 min

Five secretaries of state on Monday urged Elon Musk to fix his social media platform X’s artificial intelligence search assistant after it allegedly shared false information about the 2024 presidential election. “In all nine states the opposite is true,” said the letter, which was first reported by The Washington Post. In Monday’s letter, the secretaries of state wrote that Grok’s false claim was “shared on multiple social media platforms” within hours of Biden’s announcement. But “the false information about ballot deadlines has been captured and shared repeatedly in multiple posts — reaching millions of people,” the officials wrote. “Furthermore, Grok continued to repeat this false information for more than a week until it was corrected on July 31, 2024,” the letter alleged.

Persons: Elon Musk, Musk, chatbot Grok, Joe Biden, Donald Trump, Trump, Biden, Kamala Harris, ‘, Steve Simon, “, ”, Simon, Al Schmidt, Pennsylvania, Simon Steve Hobbs, Michigan’s Jocelyn Benson, Maggie Toulouse Oliver, Schmidt, Grok, X, OpenAI’s Organizations: Monday, SpaceX, Democratic, The Washington Post, Republican, CNBC, Trump, Republicans, America PAC Locations: Pennsylvania , Michigan, Minnesota, New Mexico, Alabama , Indiana , Ohio , Texas, Washington, United States

☆ U.S. recession fears spark selloff in international markets
▼ + stars: | 2024-08-05 | by ( David Hodari | David Hodari Is A London-Based Editor. | ) www.nbcnews.com time to read: +2 min

LONDON — U.S. stocks are on course to open in the red Monday, with Japanese stocks suffering their worst day of trading since the 1980s and a global equities sell-off intensifying over fears of a U.S. economic slowdown. The Nikkei’s 12.4% fall marked the worst day for the Japanese index since 1987’s “Black Monday” — the sudden and unexpected stock market crash that raised fears of a depression. Noriko Hayashi / Bloomberg via Getty ImagesIn recent weeks, rising concerns around a potential U.S. recession have spooked investors. A rise in the value of the Japanese yen against the U.S. dollar — making Japanese assets more expensive for holders of other currencies — has also likely played a role in the selling. Even so, some investors put their money into U.S. Treasury bonds — so-called ‘haven’ assets that act as stores of wealth in volatile moments.

Persons: Noriko Hayashi, Japan’s, Shunichi Suzuki, “, ” Suzuki, ” Organizations: LONDON, Dow Jones, Nasdaq, Tokyo Stock Exchange, Bloomberg, Getty, Federal Reserve, Labor, U.S ., Treasury Locations: U.S, Europe

☆ Japan stocks plunge as much as 7%, hovering near bear market territory, as Asia shares extend sell-off
▼ + stars: | 2024-08-05 | by ( Lim Hui Jie | ) www.nbcnews.com time to read: +2 min

Japan’s markets led losses in the region as the Nikkei 225 and Topix dropped as much as 7% in volatile trading. At these levels, both the Nikkei and Topix are nearing bear market territory, having fallen almost 20% from their all-time highs on July 11. Monday’s decline follows Friday’s rout when Japan’s Nikkei 225 and Topix fell more than 5% and 6%, respectively. The broader Topix marked its worst day in eight years, while the Nikkei marked its worst day since March 2020. The Nasdaq was the first of the three major benchmarks to enter correction territory, down more than 10% from its record high.

Persons: Topix, “, Australia’s, Kospi Organizations: Nikkei, Mitsubishi, Mitsui, Co, Sumitomo, Topix, Reserve Bank of Australia, Reuters, CSI, Nasdaq, Dow, Dow Jones Locations: Asia, Pacific, China, Taiwan, Australia, India, U.S

☆ Gunmen kill New Zealand helicopter pilot in another attack in Indonesia’s restive Papua region
▼ + stars: | 2024-08-05 | by ( Story Associated Press | ) edition.cnn.com time to read: +3 min

Jayapura, Indonesia — Gunmen stormed a helicopter and killed its New Zealand pilot shortly after it landed in Indonesia’s restive Papua region on Monday, and they released two health workers and two children it was carrying, police said. West Papua Liberation Army spokesperson Sebby Sambom told The Associated Press that he had not received any reports from fighters on the ground about the killing. NZ Pilot Philip Mehrtens flanked by members of the West Papua National Liberation Army. Planning to use the pilot to negotiate, Kogoya has said they won’t release Mehrtens unless Indonesia frees Papua as a sovereign country. Flying is the only practical way of accessing many areas in the mountainous easternmost provinces of Papua and West Papua.

Persons: Indonesia — Gunmen, Glen Malcolm, Faizal Ramadhani, ”, Sebby Sambom, ” Sambom, “, Philip Mehrtens, Egianus, Philip Mark Mehrtens, Kogoya, Graeme Thomas Wall, Wall Organizations: Indonesia —, Zealand, Indonesian, PT, Angkasa Air Service, West Papua Liberation Army, Free Papua Movement, National Police, Associated Press, New Zealand, NZ, West Papua National Liberation Army, West, Susi, PT Freeport Indonesia Locations: Jayapura, Indonesia, Indonesia’s restive Papua, Alama, Mimika district, Central Papua, Papua, West, Jakarta, Dutch, New Guinea, West Papua, Christchurch, Indonesian, New Zealand, Ngaruawahia

☆ Why the stock market is freaking out again
▼ + stars: | 2024-08-05 | by ( David Goldman | ) edition.cnn.com time to read: +6 min

The Dow tumbled more than 1,000 points at the open, and the broader market plunged 3% Monday. The Nasdaq, full of risky tech stocks, dropped 3.7%. Although that’s not in and of itself an unhealthy unemployment rate, its sudden march higher is alarming: Last year, the unemployment rate was at its lowest level since the moon landing. Traders are beginning to unwind big trades on Apple, Nvidia, Microsoft, Meta, Amazon, Alphabet and other tech stocks that had been surging since the beginning of last year. Monday’s rout, if it ends at current levels, wouldn’t even crack the top 100 worst days in market history.

Persons: Dow, that’s, Goldman Sachs, That’s, Jeremy Siegel, “, ”, Siegel, Stocks, it’ll, Warren Buffett, Berkshire Hathaway Organizations: CNN, Nasdaq, Nikkei, Federal Reserve, of Labor Statistics, Citigroup, JPMorgan, CNBC, Traders, Apple, Nvidia, Microsoft, Meta, Berkshire Locations: Wall

Hong Kong/London CNN —Japanese shares soared Tuesday, clawing back some of their record losses from the previous day and underpinning a tentative recovery on global markets. Markets around the world plunged during Monday’s session when a combination of fears about a slowing US economy, rising Japanese interest rates and crumbling tech stocks combined to trigger a meltdown. The bounce in Japan is “typical after a market crash,” Neil Newman, head of strategy at Astris Advisory in Tokyo, told CNN. “It is too early to conclude that the Japanese stock market has hit a bottom,” they said, adding that any recovery would likely only occur after Japanese companies report first-half earnings in October, or even after the US presidential election in November. A stronger yenJapan’s stock market, in particular, was hard-hit by the rapid appreciation of the yen, which undermines the export competitiveness of the country’s manufacturers.

Persons: clawing, Kospi, ” Neil Newman, ”, “, Stephen Innes, ” Newman, Newman, Fumio Kishida Organizations: London CNN, Nikkei, Nasdaq, Advisory, CNN, UBS Chief Investment, Moody’s, Bank of Japan, Management, Tokyo “, Traders, Reuters Locations: Hong Kong, London, Asia, South, Taiwan, Europe, Japan, Tokyo, South Korea

☆ The Next Month in the Economy Could Be Crucial for the Presidential Election
▼ + stars: | 2024-08-05 | by ( Jim Tankersley | More About Jim Tankersley | ) www.nytimes.com time to read: +1 min

It didn’t take long for former President Donald J. Trump to make a political weapon out of Monday’s market sell-off. “This is not good.”The post underscored Mr. Trump’s longstanding fixation on stock indexes as a barometer of economic health. It also reinforced the degree to which economic messaging — and the health of the economy itself — will play a key role in the sprint finish ahead of the presidential vote in November. American voters consistently tell pollsters that the economy and consumer prices are the most important issues facing the country. Mr. Trump wants voters to believe the economy is on the brink of catastrophe, and that Ms. Harris and President Biden are to blame.

Persons: Donald J, Trump, ” Mr, pollsters, Kamala Harris, Harris, Biden Organizations: “ Stock, Democratic

☆ Traders Wonder if the Fed Could Make an Emergency Rate Cut as Markets Tumble
▼ + stars: | 2024-08-05 | by ( Jeanna Smialek | More About Jeanna Smialek | ) www.nytimes.com time to read: +1 min

As turmoil swept through global financial markets on Monday, fueled by concerns that the economy is headed for a hard landing, investors began to speculate that the Federal Reserve could jump in to cushion the fallout with an emergency interest rate cut. The Fed considers emergency cuts — ones that occur outside of its regularly scheduled meetings — for extreme situations. Joblessness rarely rises sharply outside of an economic downturn. The data fueled serious concerns that Fed officials have fallen behind on adjusting their policy stance. The risk is that Fed policymakers might have choked off demand too much for too long, causing a slowdown in the labor market that will begin to snowball into wider economic pain.

Organizations: Federal Reserve, Fed Locations: United States

☆ Google loses massive antitrust lawsuit over its search dominance
▼ + stars: | 2024-08-05 | by ( Brian Fung | ) edition.cnn.com time to read: +1 min

New York CNN —Google has violated US antitrust law with its search business, a federal judge ruled Monday, handing the tech giant a staggering court defeat with the potential to reshape how millions of Americans get information online and to upend decades of dominance. The decision by the US District Court for the District of Columbia is a stunning rebuke of Google’s oldest and most important business. The company has spent tens of billions of dollars on exclusive contracts to secure a dominant position as the world’s default search provider on smartphones and web browsers. Now, said US District Judge Amit Mehta, that powerful position has led to anticompetitive behavior that must be stopped. “It has violated Section 2 of the Sherman Act.”This is a developing story and will be updated.

Persons: Microsoft’s Bing, Trump, Amit Mehta, “, ” Mehta, Sherman Organizations: New, New York CNN, Google, US, Court, District of Columbia Locations: New York

Donald J. Trump didn’t wait for the opening bell before blaming Monday’s market sell-off on Vice President Kamala Harris. “Stock markets are crashing, jobs numbers are terrible, we are heading to World War III, and we have two of the most incompetent ‘leaders’ in history,” the former president and Republican presidential nominee wrote in a post on Truth Social at 8:12 a.m. Eastern time. “This is not good.”Mr. Trump did not mention that markets had suffered far greater single-day losses when he was president, or that economists blamed a variety of factors — including a disappointing July jobs report, a plunge in Japanese markets earlier in the day and a growing consensus among investors that the Federal Reserve has waited too long to start cutting interest rates — for Monday’s slide. He also did not mention that earlier this year, he had claimed credit for a surge in stock prices, which he said reflected confidence he would be re-elected.

Persons: Donald J, Trump, Kamala Harris, Mr Organizations: “ Stock, Federal Reserve

☆ These vision-impaired Olympic stars rely on a ‘sixth sense’ when they compete
▼ + stars: | 2024-08-04 | by ( Maya Davis | ) edition.cnn.com time to read: +14 min

Nedoroscik is not the only Olympic athlete with vision impairment excelling in their sport. “For an athlete with a visual impairment, they might have better proprioception, a better vestibular system or better audition. A new superpowerOlympic athletes with vision impairment have shown that you don’t need 20/20 vision to get the job done. USA Goalball National Team Athlete and 4x Paralympian Tyler Merren says the only difference between a "Paralympic athlete and an able-bodied athlete" is the disability. “All of these athletes are so empowering to kids like my patients, who can see [visual impairment] is not limiting them.

Persons: Stephen Nedoroscik, Daniel Wiffen, Rebeca Andrade, Nedoroscik, ”, NBC’s, Becky Sauerbrunn, goalball, Tyler Merren, Merren, “, I’m, Rupa Wong, Daniel Wiffen of, Ueslei Marcelino, Gordon Waddington, Wong, it’s, Fabrice Sarlegna, Aristotle, Jamie Squire, ” Wong, Goalball, Kiyoshi Ota, It’s, Clark Kent, Leonardo da Vinci, ” Merren, Dr, Sanjay Gupta, “ We’re Organizations: CNN, Saturday’s, Paris Games, US, Honolulu Eye Clinic, American Academy of Ophthalmology, Reuters, University of Canberra Research, Sport, Australian Institute of Sport, French National Centre for Scientific Research, Aix Marseille University, Team Brazil, Olympic Games, Bercy Arena, Olympic, International Paralympic, Team Japan, Tokyo, of Blind, US Association of Blind Athletes, Get CNN, CNN Health, “ Locations: Brazil, Honolulu, Paris, France, Waddington, goalball, Chiba, Japan, USA

☆ Belgian Triathlon Team Drops Out After Athlete Falls Sick
▼ + stars: | 2024-08-04 | by ( Alexandra E. Petri | ) www.nytimes.com time to read: +1 min

Belgium’s triathlon mixed relay team has withdrawn from Monday’s event after one of its athletes who swam in the Seine River on Wednesday became ill, the team said Sunday. The athlete, Claire Michel, competed in the women’s triathlon on Wednesday, finishing in 38th place. The team did not say whether Michel was sickened by pollution in the Seine, site of the triathlon’s 1,500-meter swim. “The BOIC and Belgian Triathlon hope that lessons will be learned for future triathlon competitions,” the statement said. “We are thinking of training days that can be guaranteed, competition days and formats that are clear in advance and circumstances that do not cause uncertainty among athletes, entourage and fans.”

Persons: Claire Michel, Michel, ” Organizations: Belgian Hammers, Olympic, Belgian Locations: Seine, Paris

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