Dec 6, 2018

Stocks ride Thursday roller coaster

Photo by Spencer Platt/Getty Images

Stocks had a tumultuous ride on Thursday, with the Dow Jones Industrial average falling 761 points before recovering to close down just 79 points.

What happened: U.S. markets initially followed a global sell-off that was sparked by the arrest of Huawei CFO Meng Wanzho, but then settled and raced to the close after a Wall Street Journal report that the Fed may become even more tentative on interest rate hikes.

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Pelosi warns U.S. allies against working with China's Huawei

Nancy Pelosi on Feb. 16. Photo: Sven Hoppe/picture alliance via Getty Images

House Speaker Nancy Pelosi on Sunday cautioned U.S. allies against allowing Chinese telecommunications giant Huawei to develop their 5G networks, arguing at the Munich Security Conference that doing so is akin to “choosing autocracy over democracy," CNBC reports.

Why it matters: Pelosi's hawkish stance marks a rare area of agreement with the Trump administration, which believes Huawei is a national security threat because the Chinese government may be capable of accessing its equipment for espionage.

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Judge sets "scheduling" conference call ahead of Roger Stone sentencing

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U.S. District Judge Amy Berman Jackson has requested a Feb. 18 "scheduling" conference call in the Roger Stone case, two days before the former Trump associate is set to be sentenced.

Why it matters: Stone's defense team on Friday filed a sealed motion for a new trial — the second time they've done so — amid allegations of juror bias and a growing controversy over Attorney General Bill Barr's intervention in the case.

Biden says Bloomberg's money can't "erase" his record

Photo: Alex Wong/Getty Images.

Former Vice President Joe Biden said on NBC's "Meet the Press" Sunday that Michael Bloomberg's vast fortune cannot "erase" his record, and that scrutiny of Bloomberg's positions on things like race and policing will ramp up now that he's in the national spotlight.

Why it matters: Biden's polling free fall in the wake of poor performances in Iowa and New Hampshire has coincided with a surge for Bloomberg, who appeals to a similar moderate bloc of the Democratic Party. The billionaire's limitless spending capacity poses an especially stark threat to Biden, who has struggled with fundraising.