Good Tuesday morning from L.A. ... Axios thanks the students at the UCLA Daily Bruin and USC's Annenberg School for Communication and Journalism for inspiring conversations yesterday about politics, tech, media, life and the future of journalism.
President Trump — who made what many White House veterans considered the rookie mistake of repeatedly boasting about the peppy stock market — now owns the largest-ever single-day point plunge for the Dow Jones Industrial Average (and worst percentage drop — 4.1% — for the S&P in more than six years).
Happening now ... "World stock markets nosedived for a fourth day running [today], having seen $4 trillion wiped off from what just eight days ago had been record high values." (Reuters)
What you need to know ... "The sharp sell-off ... lacked a specific trigger," per Bloomberg:
If you read only 1 thing ... "US economy fundamentally strong despite stock market plunge," per AP:
Be smart ... Axios Business Editor Dan Primack (who noted that he hadn't heard the word "contagion" in a while) emails me: "No one knows anything. Sure, there were contributing factors, like interest rates and the debt limit, and algorithmic trading bits being tripped and falling over each other like dominos."
"Lawyers for President Trump have advised him against sitting down for a wide-ranging interview with the special counsel, Robert S. Mueller, ... raising the specter of a monthslong court battle," per the N.Y. Times' Michael Schmidt and Maggie Haberman:
He actually went ... Philadelphia Eagles' Nick Foles, Super Bowl champion QB, celebrates in a Main Street parade at Walt Disney World in Lake Buena Vista, Fla.
P. S. 103.4 million people watched the Super Bowl on NBC, a 7% drop from last year, and the smallest Super Bowl audience since 2009, per AP:
"Two Americas: Republican districts have far fewer immigrants," by Axios' Caitlin Owens and Chris Canipe:
Trump’s eager publication of the memo was expected. Yet his action crossed a line: from criticism of the FBI to executive action designed to undermine an ongoing investigation. Trump seems to be testing the waters for direct action against the FBI by testing the limits of what his Republican followers will stomach. So far, there are no limits.— Michael Gerson, Washington Post columnist and former top aide to President George W. Bush
Top intelligence and law enforcement officials warn that the release of a memo alleging FBI surveillance abuse could cause spy agencies to start sharing less with Congress, weakening oversight, AP's Deb Riechmann writes:
"Drones could soon be ferrying blood and other medical supplies to hospitals and clinics in North Carolina if the N.C. Department of Transportation’s bid to be part of a federal test program is approved," the Raleigh News & Observer reports:
The Berlin Wall has now been down for longer than it stood during the Cold War.
Hillary Clinton told students at the Georgetown Institute for Women, Peace and Security, yesterday that she plans to "remain on the front lines of democracy,” WashPost "Reliable Source" columnist Emily Heil reports:
Delivery apps may put your favorite restaurant out of business, per The New Yorker's Elizabeth Dunn, writing in the "Annals of Gastronomy":
Thanks for reading! See you all day in the Axios stream ...