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Deep Dow dive...Trump hotel records sought...Beef recall

December 4, 2018

NEW YORK (AP) — Investor skitters about trade tensions with China have caused tanks to tank today. Stocks sank almost 800 points Tuesday after the Trump administration raised doubts about the substance of a U.S.-China trade cease-fire. Boeing and Caterpillar, two major exporters which would have much to lose of trade tensions don’t ease, weighed the most on the Dow. It dropped 799 points. The S&P lost 90 points and the Nasdaq fell 283 points.

WASHINGTON (AP) — The attorneys general of the District of Columbia and Maryland plan to file subpoenas seeking records from the Trump Organization, the IRS and other entities in their lawsuit accusing Donald Trump of profiting off the presidency. Their case alleges that government spending at Trump’s hotel amounts to gifts to the president in violation of the U Constitution’s emoluments clause.

NEW YORK (AP) — Federal officials say an Arizona company is expanding the scope of its recall of raw beef that could be contaminated with salmonella. The Agriculture Department says a unit of Brazil’s JBS is now recalling a total of more than 12 million pounds of raw beef that was shipped around the U.S. At least three people have been sickened. The products up for recall have the USDA inspection number “EST. 267.”

LANSING, Mich. (AP) — The Republican-led Michigan House appears ready to pass bills that would delay a minimum wage hike and scale back paid sick leave requirements. The lame-duck strategy was endorsed legally by the state’s conservative attorney general despite criticism that it is unconstitutional.

MINSK, Belarus (AP) — Ukrainian authorities say they’ve thwarted a huge cyberattack and are blaming Russia for the alleged digital assault as tensions between the two countries have flared. The Security Service of Ukraine said in a statement that hackers used malicious accounting documents to target the information technology systems of the country’s judiciary.

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