Jan 17, 2019

GOP congressman Tom Marino announces his resignation

Rep. Tom Marino, (R-Pa.). Photo: Bill Clark/CQ Roll Call

Rep. Tom Marino (R-Penn.), who was elected to a fifth term in November in a heavily Republican district, said Thursday that he is resigning from Congress next week to take a position in the private sector.

The backdrop: Marino was first elected in 2010 after defeating a Democratic incumbent. He was one of the first House Republicans to endorse Donald Trump, and was later nominated by the president to head the Office of National Drug Control Policy. Marino ultimately removed his name from consideration, however, following reports that he steered a bill through Congress that significantly weakened the government's ability to crack down on the opioid epidemic.

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Fear of coronavirus pandemic escalates

Photo: Abdulgani Basheer/AFP/Getty Images

In the blink of an eye, we've entered a new phase on the coronavirus.

The big picture: Italy, Iran and South Korea are at "decisive" points in their responses, the World Health Organization said on Thursday.

Go deeperArrow2 hours ago - Health

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.

Go deeperArrowUpdated 2 hours ago - Economy & Business