Sep 28, 2017

Price to reimburse government for private jet trips

Secretary of Health and Human Services Tom Price attends an opioid roundtable discussion at the White House. Photo: Carolyn Kaster / AP

Health and Human Services Secretary Tom Price has apologized for taking charter flights costing taxpayers more than $400,000 and announced he will reimburse taxpayers for "my seat" on those flights by writing a "personal check." He will also be flying commercial from now on, "no exceptions."

"I regret the concerns this has raised regarding the use of taxpayer dollars. All of my political career I've fought for the taxpayers. It is clear to me that in this case, I was not sensitive enough to my concern for the taxpayer."

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Stocks fall more than 3% as coronavirus cases spike

Photo: Johannes Eisele/AFP via Getty Images

Wall Street had its worst day in two years on Monday, following a spike in coronavirus cases in South Korea and Italy. The S&P 500 fell 3.3%, the Nasdaq Composite fell 3.7% and the Dow Jones Industrial Average sunk 1,030 points (3.5%).

The big picture: This is the U.S. stock market's biggest reaction thus far to the coronavirus, which has largely shrugged it off as a threat to the global economy (though the bond market has not). While the S&P is down from record highs — which it notched last week — the index is still above lows touched earlier this year.

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WHO won't call coronavirus a pandemic as cases spread

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.

The World Health Organization will not yet call the coronavirus a pandemic, claiming that needs across affected countries are too varied and the classification would increase fear, per a briefing Monday.

The big picture: As South Korea and Italy stepped up emergency measures in efforts to thwart the spread of the virus, WHO expressed concern about infections with no clear link to China. COVID-19 has killed at least 2,620 people and infected almost 80,000 others, with all but 27 deaths occurring in mainland China.

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