Late night hosts Stephen Colbert, Jimmy Fallon and Conan O'Brien recorded a joint sketch poking fun at President Trump and the digs he made against them at a South Carolina rally this week.

The backdrop: Trump called Colbert a "lowlife" and Fallon a "lost soul" at the rally, asking the crowd, "Honestly, are they even funny?"

In the video...

  • The bit started off as a video call between Colbert and Fallon.
  • Colbert and Fallon greeted each other, "Hey, lowlife" and "Hey, lost soul." At the end of the video, the two jokingly made lunch plans at Red Hen — the restaurant that asked Press Secretary Sarah Sanders to leave last week.
  • O'Brien joins in: "Donald Trump? The real estate guy who sells steaks? He’s president? Wow, how’s he doing? ... Well guys, give him time, okay? And remember, please be civil. If we’re not careful this thing could start to get ugly."

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Jeff Sessions loses Alabama Senate primary runoff

Jeff Sessions. Photo: Michael DeMocker/Getty Images

Former Attorney General Jeff Sessions has lost the Republican nomination for Senate to Tommy Tuberville in Alabama in Tuesday night’s primary runoff, AP reports.

Why it matters: Sessions had been the underdog in the race against former Auburn University head football coach Tommy Tuberville, who had the backing of President Trump. Tuberville will now face off against Sen. Doug Jones (D-Ala.) in November, who is considered to have one of the most vulnerable Democratic Senate seats in the country.

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 9 p.m. ET: 13,273,537 — Total deaths: 577,006 — Total recoveries — 7,367,106Map.
  2. U.S.: Total confirmed cases as of 9 p.m. ET: 3,424,304 — Total deaths: 136,432 — Total recoveries: 1,049,098 — Total tested: 41,764,557Map.
  3. Politics: Biden welcomes Trump wearing mask in public but warns "it’s not enough"
  4. Public health: Four former CDC heads say Trump's undermining of agency puts lives at risk — CDC director: U.S. could get coronavirus "under control" in 4–8 weeks if all wear masks.

Bank CEOs brace for worsening economic scenario

JPMorgan CEO Jamie Dimon. Photo: J. Lawler Duggan/For The Washington Post via Getty Images

Wells Fargo swung to its first loss since the financial crisis — while JPMorgan Chase and Citigroup reported significantly lower profits from a year earlier — as the banks set aside billions of dollars more in the second quarter for loans that may go bad.

Why it matters: The cumulative $28 billion in loan loss provisions that banks have so far announced they’re reserving serves as a signal they’re preparing for a colossal wave of loan defaults as the economy slogs through a coronavirus-driven downturn.