May 13, 2019

Wall Street realizes the trade war is real

Stocks on Monday had their worst day since January. The Dow Jones Industrial Average fell 618 points, while the S&P 500 dropped 2.4% and the Nasdaq closed down 3.4%.

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Data: Money.NET; Chart: Harry Stevens/Axios

Why it matters: The stock market has largely ignored potential threats of a U.S.-China trade deal falling through. That changed today when China announced it would retaliate against U.S. actions by raising tariffs to 25% on $60 billion worth of U.S. imports (effective June 1).

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Data: Money.Net; Chart: Harry Stevens/Axios
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Data: Money.Net; Chart: Harry Stevens/Axios

What to watch: President Trump backed off his initial threat to tax everything else the U.S. imports from China ($325 billion worth of goods), telling reporters that he "hasn't made a decision" on that yet.

  • Trump also said he plans to meet with Chinese president Xi Jinping next month at the G20 summit, potentially opening the door for some sort of salvo between the two nations.

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Updated 52 mins ago - Politics & Policy

CNN crew arrested live on air while reporting on Minneapolis protests

CNN's Omar Jimenez and his crew were arrested Friday by Minneapolis state police while reporting on the protests that followed the death of George Floyd, a black man who died in police custody in the city.

What happened: CNN anchors said Jimenez and his crew were arrested for not moving after being told to by police, though the live footage prior to their arrests clearly shows Jimenez talking calmly with police and offering to move wherever necessary.

First look: Trump courts Asian American vote amid coronavirus

Photo: Sarah Silbiger/Getty Images

The president's re-election campaign debuts its "Asian Americans for Trump" initiative in a virtual event tonight, courting a slice of the nation's electorate that has experienced a surge in racism and harassment since the pandemic began.

The big question: How receptive will Asian American voters be in this moment? Trump has faced intense criticism for labeling COVID-19 the "Chinese virus" and the "Wuhan virus" and for appearing to compare Chinatowns in American cities to China itself.

How the U.S. might distribute a coronavirus vaccine

Illustration: Annelise Capossela/Axios

Now that there are glimmers of hope for a coronavirus vaccine, governments, NGOs and others are hashing out plans for how vaccines could be distributed once they are available — and deciding who will get them first.

Why it matters: Potential game-changer vaccines will be sought after by everyone from global powers to local providers. After securing supplies, part of America's plan is to tap into its military know-how to distribute those COVID-19 vaccines.