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Stocks tumble one day after hitting record high
From CNN's Anneken Tappe
The Nasdaq Composite tumbled nearly 5% and the Dow fell 700 points — or 2.6% — on Thursday
The S&P was down 3.4%.
Stocks tumbled just one day after hitting a record high. The Nasdaq had climbed above 12,000 points for the first time in history Wednesday.
So what's happening? Well for one, the Nasdaq has been outperforming the other two major stock indexes — the Dow and the S&P 500 — for months, so investors might just be taking making some adjustments after Wednesday's record highs. The Nasdaq remains up nearly 30% in 2020, far outpacing its counterparts.
But there are also technical reasons for Thursday's decline. As US-China relations sour, investors are moving money out of tech, which could get hit the hardest from a potential increase in tariffs.
The Big Tech companies such as Amazon, Google and Microsoft, all of which are part of the Nasdaq, have become the safe-haven investment of the summer. But investors have beginning to wonder when the rally will run out of steam, either because of increased regulation or because the economy as a whole picks up enough to void the need for safety picks altogether.
At least 100 people in Cuba have died from Covid-19
From CNN’s Patrick Oppmann in Havana
At least 100 people have died in Cuba from the coronavirus, the country's top epidemiologist said Thursday.
In a briefing, Dr. Alfredo Duran Garcia reported two new coronavirus related deaths and 88 new cases of the virus.
To date, Cuba has reported 4,214 cases of the coronavirus.
Earlier the Cuban government said the spread of the virus was under control and had begun to reopen the communist-run island.
But after additional outbreaks in Havana, the Cuban government earlier this month shut down travel to and from the Cuban capital and instituted a nightly curfew.
More than half of Ohio State's quarantine and isolation beds are in use, school says
From CNN's Elizabeth Hartfield
Ohio State University reported a total of 269 new cases of coronavirus in students on Monday, according to the most recent data available on the school’s dashboard.
The university has reported a total of at least 882 cases since mid-August, and averaged a positivity rate of 4.5% for the last week.
The school has 165 quarantine and isolation beds left available out of a total of 414, the dashboard shows. So far, 198 isolation beds are in use, as are an additional 98 quarantine beds.
Remember: The school updates its data for 24 hour periods when the complete testing set is available, meaning the latest reported data can lag.
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