Richard Drew/AP

The biggest flip flop of the 2016 election belonged not to a politician, but the stock market, when after Election Day it changed its opinion of President Trump from a thin-skinned inciter of global crises to a tax-and-regulation cutting champion of business.

Why the complacency? Bloomberg News points out that despite high valuations and low market volatility, indexes of global policy uncertainty remain high. So why are investors ignoring the threats President Trump's confrontational nature poses for global trade? Ethan Harris, head of global economics research at Bank of America Merrill Lynch, tells Bloomberg:

  • Bearish forecasters are the boy who cried wolf, who are now being ignored. They warned that everything from the 2010 European debt crisis to the 2011 debt ceiling showdown and 2016's Brexit would hurt stocks, but they didn't in the long run.
  • When a crisis does occur, central banks have shown a willingness to do whatever it takes to stabilize the economy.

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Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9:30 p.m. ET: 33,867,247 — Total deaths: 1,012,341 — Total recoveries: 23,537,059Map.
  2. U.S.: Total confirmed cases as of 8 p.m. ET: 7,229,319 — Total deaths: 206,887 — Total recoveries: 2,840,688 — Total tests: 103,939,667Map.
  3. Education: School-aged children now make up 10% of all U.S COVID-19 cases.
  4. Health: The coronavirus' alarming impact on the body.
  5. Business: Real-time data show economy's rebound slowing but still going.
  6. Sports: Steelers-Titans NFL game delayed after coronavirus outbreak.
Ina Fried, author of Login
2 hours ago - Technology

Facebook removes Trump ads tying refugees to COVID-19

Photo Illustration: Aïda Amer/Axios. Photo: Saul Loeb/AFP via Getty Images

Facebook said Wednesday that it was removing a series of ads from President Trump's campaign that linked American acceptance of refugees with increased coronavirus risk, a connection Facebook says is without merit.

Why it matters: The ads were pulled after they received thousands of impressions and are a sign that the Trump campaign continues to test the limits of social media rules on false information.

Over 73 million people watched the first debate on TV

Data: Nielsen; Chart: Andrew Witherspoon/Axios

More than 73.1 million people watched the first presidential debate on television on Tuesday night, according to Nielsen ratings.

Why it matters: While that's a sizable audience for any American TV program, it's down more than 13% from the record number of TV viewers who tuned in for the first debate of the 2016 election. The chaotic nature of the debate and the overall uncertainty around this year's election may have pushed some viewers away.