Today’s Top Stories From the Breitbart News Desk

[Maganomics]( Today’s Top Stories From the Breitbart News Desk The president backed down from his threat to ban TikTok, saying he would approve a complicated and unusual deal in which Oracle and Walmart would take a combined 20% stake in TikTok Global, a new U.S.-based company that would operate TikTok in the U.S. So what happens to the other 80%? That’s still unclear. A spokesperson for ByteDance, the Beijing-based owner of TikTok, said that company would hold the shares. Oracle, however, has said ByteDance will not hold any shares and Americans will own the majority of shares of the new company. Trump told Fox News that if Americans do not have control, he won’t approve the deal. In short, the TikTok saga is not over. Stocks around the globe took a beating as we headed into the third week of September. The European indexes plunged, and the U.S. boards followed suit. There’s no one particular narrative driving stocks lower. If anything, the declines seem overdetermined. There’s the increasingly acrimonious election, the complete disinterest of Nancy Pelosi in passing a stimulus package, Ruth Bader Ginsberg’s death cleaving even deeper divides, Biden’s solid lead in the polls amid unanswered questions about their accuracy, the rise of COVID-19 infections in Europe and emerging threats of a second lockdown, and a school year beginning with no major urban school system open for in-school instruction. The question is not really why stocks are declining, but what might arrest the fall. The Federal Reserve released the second-quarter report on the national flow of funds, which showed that the household sector’s net worth rose to its highest level ever in the second quarter. Just a quarter prior, it had suffered its steepest-ever decline. The big driver here was the stock market, first on the downside and then on the upside. In the second quarter, the market’s rocketing rise accounted for 75% of the growth in household net worth. The third quarter has so far come in stronger than expected, with the economy seemingly avoiding the slowdown that many expected to come with higher reported virus cases this summer. This week will bring a raft of economic data, from home sales to manufacturing surveys to unemployment claims, that will likely show the economy continuing to expand. The question is not direction so much as pace – is the recovery slowing or keeping up the faster-than-expected pace of this summer? – Alex Marlow, Breitbart News Network --------------------------------------------------------------- TOP STORY [image] [Stocks Slide as Investors Seek Shelter from Several Storms]( Stocks in the United States followed the global sell-off on Monday, extending the stock market decline into a fourth week. The Dow Jones Industrial Average was off its lows of the morning but still closed down by 510 points, a 1.85 percent decline. The S&P 500 was off by 1.16 percent, with all of its 11 sectors down. The Nasdaq Composite managed to end the day nearly flat, closing down just 0.13 percent. The small-cap Russell 2000 plunged 3.43 percent. Opinions vary quite a bit about what’s behind the extended sell-off that has controlled much of the action in the stock market in September. Some of the factors widely cited include the lack of a fiscal-stimulus agreement, an increasingly acrimonious election season, Donald Trump lagging in opinion polls, heightened tensions with China, the threat of renewed lockdowns as coronavirus cases surge once again across Europe, and a traditional wariness about being long equities going into the autumn months. [[Click here for more]( Recommended Link [Buffett Dumps Apple, Buys This!]( [image]( Through Berkshire Hathaway… Warren Buffett recently dumped $800 million of Apple stock… And [bought this instead]( He’s now moved $3.8 BILLION in a tiny niche of the tech sector billionaires are flocking to… [See full story here…]( -- IN OTHER STORIES… [U.S. Household Net Worth Hits Highest Level Ever]( The roller coaster of the pandemic economy saw the net worth of U.S. households soar to its highest level ever in the second quarter. That followed the largest-ever drop in the previous quarter due to the economic disruption of the pandemic and lockdowns. The net worth of American households and nonprofit organizations rose 6.8 percent in the April-through-June period, to $118.96 trillion, according to data released Monday by the Federal Reserve. That is around $380 billion above where it was at the end of 2019. [[Click here for more]( [Bank Shares Slide on Reports of Rampant Money Laundering]( Shares of some major banks were tumbling before the market open Monday following a report alleging those including JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank, and Bank of New York Mellon continued to profit from illicit dealings with disreputable people and criminal networks despite being previously fined for similar actions. [[Click here for more]( [TikTok Parent Company ByteDance Disputes $5 Billion Government Fee in Deal with Oracle]( TikTok’s parent company, ByteDance, has emphasized that it will remain in control of the TikTok Global business, which appears to contradict President Trump’s recent statement that the entity will be directed by Americans and pay a $5 billion fee to the U.S. government. [[Click here for more]( --------------------------------------------------------------- FROM THE MAGANOMICS INSTITUTE… [Chaos and Volatility Guaranteed Through End of the Year – A Boon for Gold?]( Pundits predict an extremely volatile four or five months ahead. That’s good news for gold… [[Click here for more]( --------------------------------------------------------------- Get Instant Access Click to read these free reports and automatically sign up for daily research. [image]( [The Ultimate Guide to Taking Back Your Privacy]( [image]( [The Three Best Gold Coin Deals on the Market Today]( [image]( [An Insider's Guide to Making a Fortune from Small Tech Stocks]( [Maganomics]( Maganomics Institute 55 NE 5th Ave, Delray Beach, FL 33484 [www.maganomics.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. 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