Wall Street braces for turmoil
The stock market is set to close out a brutal month of losses as Wall Street braces for a rocky second half of the year. All three major U.S. stock indexes — the Dow Jones Industrial Average, the S&P 500 and the Nasdaq composite — reached bear market status in June, falling at least 20 percent from record highs set toward the start of the year. While stocks sank gradually for much of 2022, the sell-off accelerated in June amid deepening concerns about the economy. “We were just kind of finding our way along the bottom, and then in June that semblance of
Read MoreWhy the global inflation problem is bigger than US politics
Inflation may be the focus of a midterm cycle political blame game, but economists caution the problem — and the most effective solutions — are global. Rising prices were a focus of this week’s meeting of the Group of Seven (G-7) major economies. The White House said Tuesday it is investing $760 million to combat the effects of high food, fuel and fertilizer prices, and the European Council said the war in Ukraine is leading to steep price increases and that the G-7 needs to “assist the global economy.” “We are united and determined to strongl
Read MoreFive takeaways from races in Colorado, Illinois, New York and more
Tuesday’s primaries and runoffs saw the downfall of at least three House incumbents, as well as the limits of top Republicans and Democrats to sway the results of key primary races. In Colorado, more moderate Republicans beat out candidates who cast themselves as staunch allies of former President Donald Trump in a handful of statewide GOP primaries, though the former president still managed to notch crucial victories in Illinois. Meanwhile, establishment Democrats in New York cruised to victory over progressive challengers. Here are five takeaways from T
Read MoreGinni Thomas lawyer questions need for her to testify before Jan. 6 panel
The attorney for Ginni Thomas, the wife of Supreme Court Justice Clarence Thomas, said he doesn't see a need for his client to testify before the House select committee investigating the Jan 6, 2021 attack at the Capitol. In an eight-page letter sent to the committee on Tuesday, Thomas’s attorney Mark Paoletta wrote that his client is willing to testify before the committee to clear her name, but asked for the panel to provide better justification for why her testimony is necessary. Paoletta’s letter to the committee was obtained and
Read MoreRep. Miller defeats Rep. Davis in Illinois GOP House primary
WASHINGTON (AP) — Illinois Republican Rep. Mary Miller has defeated fellow incumbent Rep. Rodney Davis in a primary pitting two House colleagues against each other. Miller, who was endorsed by former President Donald Trump, beat Davis in the 15th Congressional District, a sprawling, heavily red part of central Illinois that was redrawn after the state’s shrinking population cost it a congressional seat. Miller, first elected in 2020, called the Supreme Court’s decision to overturn Roe v. Wade a “historic victory for white life” during a weekend rally with Trump. Her spok
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