Sep 3, 2017

Mnuchin says he'll draft new sanctions after North Korea test

Carolyn Kaster / AP

Treasury Secretary Steven Mnuchin said on "Fox News Sunday" that he plans to draft a new sanctions package for President Trump's "strong consideration" after North Korea's nuclear weapons test on Saturday night.

He said the package will be such that if a company in China or elsewhere wants to do business with North Korea, it won't be able to do business with the U.S.

  • "I did speak with the president, and it's clear that this behavior is completely unacceptable."
  • "There's a lot we can do to cut them off economically, much more than we've done already."
  • On the possibility of ending the South Korea trade deal, Mnuchin noted the trade imbalance and the fact that the U.S. provides substantial military assistance to South Korea, but said no decision had been made beyond wanting to re-negotiate the deal.
  • On possible military action: "I think the president made it clear that he'll consider everything but we are not going to broadcast our actions."

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Stocks fall 4% as sell-off worsens

A trader on the floor of the New York Stock Exchange. Photo: Johannes Eisele/AFP via Getty Images

Stocks fell more than 4% on Thursday, extending the market’s worst week since the financial crisis in 2008 following a spike in coronavirus cases around the world.

The big picture: All three indices are in correction, down over 10% from recent record-highs, amid a global market rout. It's the S&P 500's quickest decline into correction territory in the index's history, per Deutsche Bank.

Coronavirus updates: California monitors 8,400 potential cases

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

33 people in California have tested positive for the coronavirus, and health officials are monitoring 8,400 people who have recently returned from "points of concern," Gov. Gavin Newsom said Thursday.

The big picture: COVID-19 has killed more than 2,800 people and infected over 82,000 others in some 50 countries and territories. The novel coronavirus is now affecting every continent but Antarctica, and the WHO said Wednesday the number of new cases reported outside China has exceeded those inside the country for the first time.

Go deeperArrowUpdated 1 hour ago - Health

Watchdog opens probe into VA secretary over handling of sexual assault claim

VA Secretary Robert Wilkie on Fox Business Network’s "The Evening Edit" on Jan. 7. Photo: Steven Ferdman/Getty Images

The Department of Veterans Affairs Inspector General Michael Missal said Thursday he had opened an investigation into VA Secretary Robert Wilkie after lawmakers demanded an inquiry into his handling of a sexual misconduct report, the Washington Post reports.

Context: Wilkie allegedly "worked to discredit" the credibility of Democratic aide and veteran Andrea Goldstein after she reported last fall "that a man groped and propositioned her in the main lobby of the agency's D.C. Medical Center," a senior VA official told the Post.