Dow plunges nearly 800 points on U.S.-China trade fears

CNN's Alison Kosik reports.

Posted: Dec 5, 2018 12:50 PM
Updated: Dec 5, 2018 1:21 PM

Today is a national day of mourning for the late former President George H.W. Bush. That means a lot of government agencies will be closed and regular mail service suspended. Here's what else you need to know to Get Up to Speed and Out the Door. (You can also get "5 Things You Need to Know Today" delivered to your inbox daily. Sign up here.)

1. Mueller investigation

As expected, FBI special counsel Robert Mueller filed a sentencing memo for President Trump's ex-national security adviser, Michael Flynn. The big takeaway: Mueller suggested Flynn should NOT get prison time because he gave "substantial assistance" to the investigation. How substantial? The filings reveal Flynn sat for 19 interviews with the special counsel and other Justice Department officials, and not only did his information lay out a road map for the investigation, his early cooperation may have encouraged others to do the same. Despite this revelation, the filings were heavily redacted and didn't contain any concrete answers to big questions. But whatever is written under those black bars, it puts pressure on the Trump administration. A legal expert told CNN that such cooperation probably means Flynn's information helped Mueller build a criminal case. Against whom? REDACTED.

2. Stocks 

Wow, yesterday was a horrible day for the markets. Remember Monday's enthusiasm over the trade truce between the US and China? Gone. The Dow plunged 799 points, with bank stocks hit especially hard. Sure, the economy has ups and downs, but when bank stocks dip and concerns about bond yields come into play, it can signal a slowdown. Tech stocks, like Apple, Google, Amazon and Netflix, also fell sharply. Oh, and UPS and FedEx stocks fell, too, because Amazon is reportedly building up its air freight delivery service. There won't be mayhem today, though: Markets are closed as the nation mourns our former President.

3. Jamal Khashoggi 

Republican senators had strong words after leaving a classified briefing about the murder of Washington Post journalist Jamal Khashoggi. Sen. Bob Corker said outright that Saudi Crown Prince Mohammed bin Salman "ordered, monitored, the killing" of Khashoggi in October at Saudi Arabia's consulate in Istanbul. "If he were in front of a jury, he would be convicted of murder in about 30 minutes," he said. Sen. Lindsey Graham said, "There's not a smoking gun, there's a smoking saw." Both are leading a charge to rebuke the Crown Prince and possibly distance the US from Saudi Arabia's military interests. But GOP US Rep. Chris Stewart said on CNN that "journalists disappear all over the country" and this incident can't get in the way of US interests.

4. Somalia 

More than two decades after closing its embassy in Somalia, the US announced it has re-established a permanent diplomatic presence in the East African nation. The US closed its embassy in the capital city of Mogadishu in January 1991, after the overthrow of the country's President, but has been warming up diplomatic sentiments. Somalia in recent years also has been subject to widespread famine and has been a regular focus of US counterterror efforts. US military strikes in Somalia have targeted suspected fighters for ISIS and a militant group linked to al Qaeda.

5. NYPD drones 

Drones are coming to the nation's largest police force, and while they may have some seriously helpful applications, civil rights groups worry they could open the door to some Orwellian levels of privacy invasion. The NYPD announced it will start using a fleet of 14 drones: 11 small ones, two large weather-resistant ones with thermal imaging and zoom capabilities, and one testing drone. They'll be used to document crime scenes and collisions, monitor crowds and traffic at events, gather information at hazardous scenes, and even be used during hostage situations. They won't be used for routine patrol or traffic enforcement or to monitor citizens. Despite the promise, the New York Civil Liberties Union says it's concerned the department's policies don't place many official limits on drone use. NYPD says more than 900 police, fire and emergency units around the country already use drones in some form.

BREAKFAST BROWSE

Too much sleep linked to greater risk of disease and death, study says

Still gonna smash that snooze button five times.

A 9-year-old boy has convinced his Colorado town to lift its ban on snowball fights

What town is this? HallmarkMovieVille?

A legislator wants to ban telemarketers from doing that annoying thing where their caller IDs mimic your home area code and number

One word: GOOD.

Cardi B and her husband Offset break up

We're hope they're both OK.

Inside Brazil's abandoned Santa-themed amusement park

Good grief, this place is a nightmare. Gaze into the empty maw of Father Christmas, children! He sees you when you're sleeping!

TODAY'S NUMBER

5.1 million

That's how many pounds of beef are being recalled because they could be tainted with salmonella. This recall is an expansion of a recall that started in October. All in all, 12 million pounds of beef have been affected.

TODAY'S QUOTE

"I would like to end this speech with some words to young girls all over the world: Please, believe in yourselves."

Norwegian soccer star Ada Hegerberg, the first winner of the Women's Ballon d'Or

AND FINALLY

Beer me! Candy me! Everything me! 

Every single thing automated through some hacked Google Home system? This man is living in 3018. (Click to view.)

Minnesota Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 41571

Reported Deaths: 1537
CountyConfirmedDeaths
Hennepin13328790
Ramsey5169232
Dakota265596
Stearns249619
Anoka2393111
Nobles16846
Olmsted125920
Washington125541
Mower9822
Rice8798
Scott8584
Clay61238
Kandiyohi5901
Blue Earth5632
Wright5285
Carver4691
Todd4022
Sherburne3625
Lyon3332
Freeborn3120
Watonwan2670
Steele2451
Benton2363
St. Louis22316
Nicollet20312
Martin1755
Cottonwood1420
Winona14115
Goodhue1408
Le Sueur1251
Crow Wing11312
Pine1120
Otter Tail1111
Chisago1071
McLeod1000
Dodge960
Carlton900
Polk883
Unassigned8838
Isanti810
Chippewa801
Waseca770
Murray730
Itasca7112
Douglas700
Pipestone694
Morrison641
Becker620
Meeker621
Faribault610
Sibley582
Jackson570
Pennington530
Beltrami470
Brown442
Mille Lacs392
Wabasha380
Renville372
Fillmore350
Rock340
Swift331
Houston320
Yellow Medicine310
Grant250
Roseau250
Redwood230
Wilkin223
Koochiching211
Norman210
Cass192
Big Stone170
Kanabec171
Lincoln170
Wadena170
Aitkin150
Marshall130
Pope130
Clearwater120
Stevens110
Hubbard100
Mahnomen101
Lake60
Traverse60
Lac qui Parle50
Red Lake40
Kittson20
Cook10
Lake of the Woods00

Iowa Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 34564

Reported Deaths: 747
CountyConfirmedDeaths
Polk7332184
Woodbury332944
Black Hawk249259
Buena Vista173711
Johnson14268
Dallas138531
Linn138183
Marshall109219
Scott103110
Dubuque94023
Story8575
Pottawattamie82112
Wapello71431
Muscatine68745
Crawford6803
Sioux5010
Tama48329
Wright3971
Louisa36513
Webster3655
Plymouth3465
Jasper34417
Warren3191
Dickinson2993
Cerro Gordo2841
Washington2519
Hamilton2011
Boone1681
Clay1491
Clarke1433
Allamakee1384
Clinton1321
Shelby1200
Mahaska11917
Carroll1131
Poweshiek1128
Bremer1107
Pocahontas1071
Franklin1040
Des Moines1002
Cedar951
Emmet950
Henry933
Hardin900
Cherokee831
Floyd812
Taylor810
Marion800
Monona780
Benton751
Guthrie754
Jones710
Butler682
Osceola680
Sac680
Buchanan631
Calhoun632
Iowa631
Jefferson620
Hancock601
Harrison600
Humboldt601
Fayette570
Jackson570
Lyon570
Delaware561
Madison552
Lee542
Monroe527
Palo Alto510
Clayton503
Grundy470
Mills470
Winneshiek460
Mitchell440
Davis421
Kossuth410
Union380
Howard370
Lucas354
Unassigned350
Winnebago340
Greene300
Chickasaw290
Cass280
Ida230
Keokuk231
Worth220
Appanoose213
Page210
Van Buren210
Audubon181
Adair170
Ringgold161
Decatur130
Montgomery122
Wayne110
Fremont100
Adams80
Rochester
Clear
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Albert Lea
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Austin
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Charles City
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