Photo: Michael Brochstein/SOPA Images/LightRocket/Getty Images

President Trump's 4th of July festivities cost Washington, D.C. $1.7 million, bankrupting the city's Emergency Planning and Security Fund, reports the Washington Post.

By the numbers: The fund is "depleted and is estimated to be running a $6 million deficit by Sept. 30," per the Post. Meanwhile, Washington, D.C. has not yet been repaid for more than $7 million in 2017 inauguration costs, local officials told the Post.

Context: The special fund — paid for with federal dollars meant to reimburse the nation's capital for exceptional public safety costs — has shrunk since Trump took office, the Post reports.

  • Chris Rodriguez, director of the D.C. Homeland Security and Emergency Management Agency, explained to the Post that the estimated costs of the "Salute to America" were nearly 6 times that of past years 4th of July programs, and are likely to increase as the city accounts for expenses.

Go deeper: Trump changes national Fourth of July celebrations to include him

Go deeper

Dion Rabouin, author of Markets
3 mins ago - Economy & Business

Investors have nowhere to hide

Photo: Jeenah Moon/Getty Images

The massive losses in oil prices and U.S. and European equities were not countered by gains in traditional safe-haven assets on Wednesday.

Why it matters: The unusual movement in typical hedging tools like bonds, precious metals and currencies means they are not providing investors an asset that will appreciate in the event of a major equity selloff.

Kendall Baker, author of Sports
7 mins ago - Sports

A look inside sports owners' political donations

Data: ESPN/FiveThirtyEight; Chart: Axios Visuals

Sports team owners in the four largest North American leagues (NFL, NBA, MLB, NHL) have donated over $46 million in federal elections since 2015, according to research conducted by ESPN and FiveThirtyEight.

By the numbers: Over the past three elections, $35.7 million of that money (77.4%) has gone to Republican campaigns and super PACs, compared to $10.4 million (22.6%) to Democrats.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Large coronavirus outbreaks leading to high death rates — Coronavirus cases are at an all-time high ahead of Election Day — Fauci says U.S. may not return to normal until 2022
  2. Politics: Space Force's No. 2 general tests positive for coronavirus
  3. World: Taiwan reaches a record 200 days with no local coronavirus cases
  4. Europe faces "stronger and deadlier" wave France imposes lockdown Germany to close bars and restaurants for a month.
  5. Sports: Boston Marathon delayed MLB to investigate Dodgers player who joined celebration after positive COVID test.