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.

Cases: 486434

Reported Deaths: 6575
CountyCasesDeaths
Hennepin1009131586
Ramsey43165803
Dakota36375392
Anoka33335388
Washington22121258
Stearns18752201
St. Louis14822263
Scott13308107
Wright12538116
Olmsted1181788
Sherburne874172
Carver775640
Clay692387
Rice670791
Blue Earth596635
Kandiyohi579674
Crow Wing521282
Chisago499545
Otter Tail483270
Benton447790
Winona418549
Mower405731
Douglas393368
Nobles387247
Goodhue386269
Polk343763
McLeod340049
Beltrami338651
Morrison324747
Itasca313646
Lyon313644
Becker312542
Isanti306756
Steele301511
Carlton300149
Freeborn282623
Pine282016
Nicollet259241
Todd248330
Brown245537
Le Sueur235720
Mille Lacs227947
Cass220424
Waseca209317
Meeker207434
Martin189928
Wabasha18673
Roseau180317
Hubbard160740
Houston157414
Dodge15294
Renville150340
Redwood147027
Fillmore13768
Chippewa136735
Pennington136316
Cottonwood135020
Wadena131020
Faribault123417
Aitkin119033
Watonwan11758
Sibley117310
Rock115914
Kanabec107519
Pipestone101624
Yellow Medicine97617
Murray9488
Jackson93610
Swift87918
Pope8075
Marshall78015
Lake74218
Stevens7418
Clearwater71914
Lac qui Parle68516
Wilkin67411
Koochiching61911
Big Stone5163
Lincoln5092
Grant4918
Norman4788
Unassigned44568
Mahnomen4417
Kittson40921
Red Lake3625
Traverse3075
Lake of the Woods2191
Cook1180

Iowa Coronavirus Cases

Data is updated nightly.

Cases: 335218

Reported Deaths: 5443
CountyCasesDeaths
Polk51785551
Linn19463313
Scott17080210
Black Hawk14924292
Woodbury13778212
Johnson1312174
Dubuque12416194
Dallas1019092
Pottawattamie9828143
Story959345
Warren511674
Clinton500784
Cerro Gordo498882
Webster494487
Sioux479169
Marshall463072
Des Moines427161
Muscatine424191
Buena Vista412237
Wapello4025108
Jasper386266
Plymouth367478
Lee354252
Marion339869
Jones284654
Henry279637
Bremer268754
Carroll266349
Crawford252235
Boone242830
Benton240354
Washington239047
Mahaska215246
Jackson209738
Dickinson202440
Tama202365
Kossuth198055
Delaware185540
Clay183825
Winneshiek182827
Fayette178635
Page177819
Buchanan176929
Wright173831
Hamilton173742
Cedar171523
Hardin169439
Harrison167169
Clayton159854
Butler158831
Mills147920
Floyd147741
Poweshiek147730
Lyon145541
Cherokee145336
Allamakee142347
Madison141918
Iowa139423
Hancock137630
Grundy132030
Winnebago130231
Calhoun129311
Cass128751
Jefferson128334
Appanoose123147
Louisa122341
Mitchell120440
Chickasaw119615
Union118731
Sac118318
Shelby116433
Emmet115040
Humboldt113525
Franklin109019
Guthrie108928
Palo Alto100921
Howard99021
Montgomery96736
Clarke94720
Keokuk92029
Monroe89428
Adair81028
Ida81032
Pocahontas80919
Davis76323
Monona76327
Greene72910
Lucas71421
Osceola68215
Worth6667
Taylor64112
Decatur5699
Fremont5599
Van Buren53718
Ringgold50520
Audubon4739
Wayne45821
Adams3184
Unassigned00
Rochester/St. Mary'S
Partly Cloudy
32° wxIcon
Hi: 45° Lo: 26°
Feels Like: 26°
Mason City
Partly Cloudy
30° wxIcon
Hi: 48° Lo: 29°
Feels Like: 24°
Albert Lea
Cloudy
36° wxIcon
Hi: 46° Lo: 28°
Feels Like: 29°
Austin
Cloudy
34° wxIcon
Hi: 45° Lo: 27°
Feels Like: 26°
Charles City
Cloudy
32° wxIcon
Hi: 45° Lo: 28°
Feels Like: 24°
Several days of mild weather expected
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