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Photo: Wang Ying/Xinhua via Getty Images

Stocks have clawed back a fraction of its Thursday losses, the worst day for the market since mid-March.

By the numbers: The S&P 500, Dow Jones Industrial Average and Nasdaq Composite opened more than 2% higher on Friday morning.

Why it matters: Volatility looks to be back (at least for now) after a persistent stock rally in recent weeks that was unfazed by the economic downturn caused by the pandemic.

  • The S&P 500 is still about 37% above the lowest point of the stock market slump earlier this year.

Go deeper

Dion Rabouin, author of Markets
Sep 14, 2020 - Politics & Policy

Why new coronavirus stimulus talks are at a "dead end"

Illustration: Aïda Amer/Axios

Senate Republicans last week tried and failed to pass a slimmed down stimulus bill that would have included new money for small businesses, schools and $300 in additional weekly unemployment benefits.

Driving the news: Negotiations are now at "a dead-end street,” Kansas Sen. Pat Roberts said following the bill's failure, and Florida Sen. Marco Rubio said plainly, "Congress is not going to pass another COVID relief bill before the election." In fact, we're about two weeks away from a potential government shutdown.

Australia joins U.S. in diplomatic boycott of Beijing Winter Olympics

Australian Prime Minister Scott Morrison. Photo: Darrian Traynor/Getty Images

Australia is joining the U.S. in a diplomatic boycott of the 2022 Beijing Winter Olympic Games in protest of human rights abuses committed by China's government, Prime Minister Scott Morrison said Wednesday.

Driving the news: After the Biden administration's announcement that U.S. officials won't attend the Games due to the ongoing genocide of Uighurs and other Muslim minorities in the Xinjiang region of China, Morrison said at a Sydney briefing that Australia would follow suit as "it's the right thing to do."

Progressives to file resolution to strip Boebert's committee seats

Rep. Lauren Boebert walking through the Senate side of the U.S. Capitol earlier this month. Photo: Drew Angerer/Getty Images

House progressives are planning to introduce a resolution on Wednesday to strip Rep. Lauren Boebert (R-Colo.) of her committee assignments, according to a Democratic aide familiar with the matter.

Why it matters: The move, which was first reported by the Washington Post, comes as progressives — anxious to see the right-wing firebrand face retribution for her recent comments — have grown frustrated by Democratic leadership's inaction on the issue.