Dec 16, 2018

Stocks, bonds and commodities all fared poorly in 2018

Photo: Drew Angerer via Getty Images

"For the first time in decades, every major type of investment has fared poorly, as the outlook for economic growth and corporate profits is dampened by rising trade tensions and interest rates," the N.Y. Times' Matt Phillips writes.

Why it matters: "Most years, financial markets are a mixed bag. A bad year for risky investments, like stocks, might be a great one for safe bets like government bonds. Or, if worries about inflation are hurting bond investments, commodities like gold tend to do well." But now, stocks "around the world are getting pummeled, while commodities and bonds are tumbling — all of which have left investors with few places to put their money."

Be smart: "If this persists, or grows worse, it could create a damaging feedback loop, with doubts about the economy hurting the markets, and trouble in the markets undermining growth."

Go deeper: 3 warning signs U.S. economy could be close to recession

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 6 p.m. ET: 5,653,821 — Total deaths: 353,414 — Total recoveries — 2,325,989Map.
  2. U.S.: Total confirmed cases as of 6 p.m. ET: 1,694,599 — Total deaths: 100,047 — Total recoveries: 384,902 — Total tested: 14,907,041Map.
  3. Public health: Fauci says data is "really quite evident" against hydroxychloroquine — Nearly half of Americans say someone in their household has delayed medical care.
  4. Business: African American business owners have seen less relief from PPP, Goldman Sachs saysDisney plans phased reopening on July 11Author Ann Patchett says bookstores are innovating to stay connected with customers.
  5. Tech: AI will help in the pandemic — but it might not be in time for this one.
  6. 1 🎶 thing: Local music venues get rocked by coronavirus.
  7. 🎧 Podcast: Trump vs. Twitter ... vs. Trump.
  8. What should I do? When you can be around others after contracting the coronavirus — Traveling, asthma, dishes, disinfectants and being contagiousMasks, lending books and self-isolatingExercise, laundry, what counts as soap — Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingHow to minimize your risk.
  9. Other resources: CDC on how to avoid the virus, what to do if you get it, the right mask to wear.

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Updated 36 mins ago - Politics & Policy

Trump administration to eliminate nuclear waivers tied to Iran deal

Pompeo testifies on Iran in February. Photo: Mark Wilson/Getty Images

The U.S. is ending waivers that had allowed foreign companies to work at Iran's civilian nuclear facilities, Secretary of State Mike Pompeo announced on Wednesday.

Why it matters: This will eliminate most elements of U.S. sanctions relief still in place two years after President Trump withdrew from the 2015 Iran nuclear deal. Pompeo said "continued nuclear escalation" made the move necessary, but critics warn it will encourage further Iranian enrichment.

Top Senate Democrat says State Dept. is working on new Saudi arms deal

Secretary of State Mike Pompeo briefs reporters on May 20. Photo: Nicholas Kamm/pool/AFP via Getty Images

Senate Foreign Relations ranking member Bob Menendez (D-N.J.) wrote in a CNN op-ed on Wednesday that he learned that the State Department is currently working to sell thousands of additional precision-guided bombs to Saudi Arabia.

Why it matters: Democrats say that Steve Linick, the State Department inspector general who was ousted on Secretary of State Mike Pompeo's recommendation, was investigating the administration's previous effort to sell weapons to Saudi Arabia without congressional approval.