| 10 things you need to know today | | | | | 2.Dow plunges for second day but stock futures stabilize | The Dow Jones Industrial Average dropped by as much as 400 points on Tuesday, closing down 362 points, or 1.4 percent. The plunged capped a two-day, 540-point Dow selloff ahead of President Trump's Tuesday night State of the Union address touting economic and market gains as signs of the success of Trump's tax and regulation cuts, and other policies. Health-care stocks led the declines, with UnitedHealth plunging by 3.4 percent after Amazon, JPMorgan Chase, and Berkshire Hathaway announced a partnership to form a health-care company to give employees access to better, cheaper coverage. "I think people are looking for an excuse to sell," SlateStone Wealth's chief investment strategist, Robert Pavlik, told CNBC. Global stocks were mixed Wednesday, and U.S. stock futures stabilized, edging higher. [CNBC, The Associated Press] | | 3.Kennedy calls Trump record 'rebuke' of American ideals in SOTU response | In the Democratic response to President Trump's first State of the Union address, Rep. Joe Kennedy III (D-Mass.) called Trump's first-year record "a rebuke to our highest American ideal, the belief that we are all worthy, that we are all equal, that we all count in the eyes of our law, our leaders, our God, and our government." The government is struggling to stay open, Russia is "knee-deep in our democracy," and the Justice Department rolls back "civil rights by the day," he said, but the Democrats are choosing "a better deal for all who call this country home," including a living wage and merciful health care. The "country will be judged by the promises we keep," Kennedy said. [The Boston Globe] | | | | | | 8.VW suspends chief lobbyist after reports of diesel tests on monkeys, humans | Volkswagen on Tuesday suspended its chief lobbyist, Thomas Steg, as the company faces a backlash over revelations about tests conducted for VW and other German automakers on the effects of diesel fumes on monkeys and humans. The New York Times first reported on the tests on Jan. 25. In a test in Albuquerque, the European Research Group on Environment and Health in the Transport Sector, which was launched by VW, BMW, and Daimler, put monkeys in airtight containers and made them breathe exhaust from a VW Beetle. German media outlets also reported that the research group tested diesel exhaust's effect on 25 people at a German university. Volkswagen CEO Matthias Muller said the company was investigating the tests, which he called "unethical and repulsive." [The New York Times, CNBC] | | | | | | MOST POPULAR | | | CAPTURED: A PHOTO BLOG | Jeva Lange | | | | | Is this email not displaying correctly? View it in your browser. Unsubscribe from this list | Update subscription preferences | Privacy Policy © 2015 THE WEEK PUBLICATIONS, INC. ALL RIGHTS RESERVED. THE WEEK ® IS A REGISTERED TRADEMARK OWNED BY FELIX DENNIS. | | |
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