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Fears of a recession sent global stock markets on a wild ride. Hurricane Debby came ashore in Florida, leaving massive floods. And Kamala Harris is closing in on a pick for running mate. |
👋Hey! Monday is here, and Laura Davis is, too. Are you ready for the news? Let's get it. |
Wall Street gets hammered |
Hang on to your hats. Global markets plunged Monday over worries about a possible recession in the U.S., the world's largest economy. The S&P 500 and the Dow Jones saw their biggest drop since September 2022, while the technology-heavy Nasdaq composite plummeted 3.43%. |
Driving the rout: Sharp declines in high-flying tech stocks including Nvidia, Apple, and Amazon, and a disappointing jobs report. While some economists said current conditions raise the risk of a recession, others downplayed those concerns. "The recession fears are overblown," said Scott Wren, senior global market strategist at Wells Fargo. "It's not time to panic here." 📉 Here's what's been going on. |
Debby turns deadly, causes massive flooding |
Hurricane Debby, now a tropical storm, roared into Florida's northern Gulf coast Monday, killing at least four people, flooding streets and causing widespread power outages as it continued toward Georgia and South Carolina, where it's expected to bring catastrophic flooding this week. |
What's going on: Debby, the fourth named storm of what is expected to be a historic hurricane season, made landfall Monday at 7 a.m. near the coastal town of Steinhatchee as a Category 1 storm with maximum sustained winds of 80 mph, the National Hurricane Center said. After several hours, Debby was downgraded to a tropical storm, and by 2 p.m. the winds were down to 65 mph, though it was still dropping copious amounts of rain. 🌀 See the latest developments. | Aaron Howe saves an American Flag that he found floating in the flood waters near the Ocala Drive-In located at 4850 S Pine Ave, Ocala, FL. Minor damage was reported in Ocala, Fl. Monday morning August 5, 2024 as Hurricane Debby’s center made landfall near Steinhatchee, Fla., at around 7 a.m. Monday. The hurricane brought sustained winds of 80 mph and threat of flooding to the Gulf Coast according to the National Hurricane Center. [Doug Engle/Ocala Star Banner]2024 Doug Engle/Ocala Star Banner, Doug Engle/Ocala Star Banner / USA TODAY NETWORK |
🏈 Believe it or not, college football season is almost here! See who topped the preseason rankings in the US LMB Coaches Poll |
Simone Biles won silver in the women's floor exercise final on Monday, giving her four medals, including three golds, at the 2024 Paris Olympics. It is the first time Biles has not won gold in a floor exercise final – ever. Brazil's Rebeca Andrade won gold. After a score inquiry, Jordan Chiles won bronze, her updated score moving her to third place from fifth in dramatic fashion. 🥇 See all the highlights. |
Harris' VP pick coming soon? |
She's narrowing it down. Democratic presidential candidate Kamala Harris has whittled down her search for a vice presidential running mate to two finalists: Pennsylvania Gov. Josh Shapiro and Minnesota Gov. Tim Walz. |
What's next for the campaign: Harris is expected to announce her selection by Tuesday before her first scheduled public appearance with her running mate in Philadelphia. Sources said it was unclear if a final decision had been made Monday. The Tuesday evening rally will kick off a five-day, seven-city tour of the battleground states likely to decide the Nov. 5 election. 👀 Here's what we know so far. | | | | Vacationers raced to save a woman's life. As they did, up and down the coast, other people splashed in the surf, unaware of what was coming next. | | | |  | Google illegally monopolized online search by paying companies like Apple billions to be the default search engine on phones and browsers, judge rules | | | | The FBI says probe into threats against Arizona official led to social media account full of threats against others, especially the Democratic nominee | | | | Some researchers question whether there's enough data to support limits on Instagram and TikTok out of concern that they harm kids' mental health. | | | | Two months since Starliner launched, NASA astronauts Barry Wilmore and Sunita Williams remain in space. A timeline shows the major dates of the mission. | | | | Yosemite National Park officials say Ana Rodarte and Miguel Delgado left Bridalveil Creek Campground on Saturday morning and have yet to return. | | | | Oklahoma and Louisiana are taking on constitutional protections against religion from public education. Civil rights groups are pushing back. | | | | Iran is not looking to escalate regional tensions but believes it needs to punish Israel to prevent further instability, the foreign ministry spokesperson said on Monday. | | | | College closures are on the rise, with one now closing every week. Know the red flags to avoid one that may shut on you and disrupt your learning. | | | | Mischa Johnson was last seen at her Schofield Barracks home on the island of O'ahu July 31. She is 19 and six months pregnant. | | | | | Brighten your day with one of our games. | | | | | |
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