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4. Technology companies drag stocks lower

Photo: Drew Angerer/Getty

The Nasdaq closed down more than 3% on Monday, amid a broader market sell-off.

  • The Dow lost 395 points, or 1.56%, while the S&P 500 dropped 1.66%.

What's happening: It's a culmination of bad news for technology stocks. Apple dropped 4% following a report the company cut production orders for iPhones, while Facebook shares closed 5.7% lower after a Wall Street Journal story about company turmoil. Other big losers were Amazon (off 5%) and several chipmakers.

Go deeper

Rebecca Falconer
Updated 6 hours ago - World

Mexican President López Obrador tests positive for coronavirus

Mexico's President Andrés Manuel López Obrador during a press conference at National Palace in Mexico City, Mexico, on Wednesday. Photo: Ismael Rosas/Eyepix Group/Barcroft Media via Getty Images

Mexican President Andrés Manuel López Obrador announced Sunday evening that he's tested positive for COVID-19.

Driving the news: López Obrador tweeted that he has mild symptoms and is receiving medical treatment. "As always, I am optimistic," he added. "We will all move forward."

Go deeper (1 min. read)Arrow
Alayna Treene, author of Sneak Peek
6 hours ago - Politics & Policy

Sarah Huckabee Sanders to run for governor of Arkansas

Sarah Huckabee Sanders at FOX News' studios in New York City in 2019. Photo: Steven Ferdman/Getty Images

Former White House press secretary Sarah Huckabee Sanders will announce Monday that she's running for governor of Arkansas.

The big picture: Sanders was touted as a contender after it was announced she was leaving the Trump administration in June 2019. Then-President Trump tweeted he hoped she would run for governor, adding "she would be fantastic." Sanders is "seen as leader in the polls" in the Republican state, notes the Washington Post's Josh Dawsey, who first reported the news.

Felix Salmon, Stef W. Kight
7 hours ago - Politics & Policy

Coronavirus has inflamed global inequality

Illustration: Aïda Amer/Axios

History will likely remember the pandemic as the "first time since records began that inequality rose in virtually every country on earth at the same time." That's the verdict from Oxfam's inequality report covering the year 2020 — a terrible year that hit the poorest, hardest across the planet.

Why it matters: The world's poorest were already in a race against time, facing down an existential risk in the form of global climate change. The coronavirus pandemic could set global poverty reduction back as much as a full decade, according to the World Bank.

Go deeper (1 min. read)Arrow