Thursday: Stocks fall around the world

Stocks, Saudi Arabia, Hurricane Michael | View in [Browser]( | Add nytdirect@nytimes.com to your address book. [The New York Times]( [The New York Times]( Thursday, October 11, 2018 [NYTimes.com »]( Europe Edition [Your Thursday Briefing]( By PENN BULLOCK Good morning. Turkey names names, a fearsome hurricane makes landfall, and millennials revive the dirndl. Here’s the latest: Spencer Platt/Getty Images • Queasiness on Wall Street. U.S. stocks [took their steepest drop in eight months]( as dyspeptic investors continued to digest trade tensions and rising interest rates. Above, the floor of the New York Stock Exchange. Previously high-flying tech shares tumbled. And the Standard & Poor’s 500-stock index fell 3.3 percent, bringing the broad equity benchmark down 4.4 percent for the month. The rout [continued in Asia]( suggesting trouble ahead for European markets. Investors are worried above all about a growing trade war between the U.S. and China. The two powers threw off sparks again on Tuesday when Belgium arrested and extradited a Chinese intelligence official to the United States [to face charges of espionage](. The official is accused of soliciting business secrets in a U.S. sting operation. _____ CCTV via Hurriyet, via Associated Press • A top forensics expert. An air force lieutenant. The men were among [15 Saudi operatives]( who the Turkish authorities said flew to Istanbul to pursue the dissident journalist Jamal Khashoggi and killed him at the Saudi Consulate there. Many on the list have close ties to Saudi leadership, including to Crown Prince Mohammed bin Salman. Turkish officials say the men killed Mr. Khashoggi, pictured above entering the consulate, dismembered his body using a bone saw and carried it out of the building — all on the orders of the Saudi royal court. The Saudi government vehemently denies that. Republican and Democratic senators invoked a human-rights law to [set in motion a U.S. investigation](. The disappearance [is a personal reckoning]( for President Trump’s son-in-law and adviser, Jared Kushner, who has cultivated the crown prince as a top U.S. ally and as a friend. _____ Johnny Milano for The New York Times • Hurricane Michael roared onto the Florida Panhandle as a Category 4 storm, with winds topping 155 miles an hour. It was one of the most powerful storms ever to hit the continental United States. Above, Tallahassee, Fla., before the worst. White-sand coastline became [a howling, wet hell](. At least one person has died, but the extent of damage is far from clear. Our reporters in the region are providing [live updates.]( Downgraded to a tropical storm, the system is now churning through southern Georgia toward the Carolinas, still sodden from Hurricane Florence. Though it’s too soon to make any connection between the hurricane and global warming, the changing climate [poses a long-term triple threat]( more rain in larger storms on rising seas. _____ Gordon Welters for The New York Times • Lignite. Also known as brown coal, it is one of the dirtiest fossil fuels. And Germany, though a leader in sustainable energy, also leads the world [in the mining and burning of lignite](. A quarter of Germany’s electricity comes from it, and roughly 22,500 jobs depend on coal. Many of those jobs are in the economically frail east. If Germany is to meet its commitments under the Paris climate accord — to reduce carbon emissions by 80 to 95 percent by 2050 — it must address the impact on livelihoods that would come from gradually closing down the coal industry. A government commission will meet on Thursday to try to plot a way forward. But time’s running out. A [U.N. report this week]( said solving global warming will require transforming the world economy at a speed and scale that have “no documented historic precedent.” _____ The New York Times • “Last last we go dey alright.” That’s teenage slang in Nigeria, roughly translating as “At the end of the day we will be all right.” Kochu, G.O.A.T. and Ne Ukalaixis were other bits of slang we picked up in [an expansive multimedia project]( in which girls around the world — from Bushehr, Iran, to the Bronx — took us inside their lives. Their assignment: Show us what it’s like to turn 18 in 2018. Business David Ryder/Reuters • Howard Schultz, the retired Starbucks founder, is widely expected to challenge President Trump in 2020. [So what does mean for the company’s business?]( • The U.S. Justice Department approved [a $69 billion merger]( between the pharmacy CVS Health and the insurer Aetna. • Volkswagen named a new head of U.S. operations, part of a bid to [rehabilitate its brand]( with Americans three years after an emissions-cheating scandal. • California is now the fifth-largest economy in the world. But here’s why the state [may be facing a financial reckoning](. • U.S. stocks [were down](. Here’s a snapshot of [global markets](. In the News Gokhan Balci/Anadolu Agency, via Getty Images • Rebel forces in Syria pulled the last of their heavy weapons from front-line positions in Idlib Province, meeting the deadline for a truce negotiated by Russia and Turkey. [[The New York Times]( • The police in Norway filed charges in the attempted murder 25 years ago of the publisher of the Norwegian edition of Salman Rushdie’s “The Satanic Verses.” [[The New York Times]( • The Bulgarian authorities announced that a man had been arrested and charged with the rape and murder of the journalist Viktoria Marinova. They said there was no indication he had targeted her for her work, rebutting talk of a political motive. [[The New York Times]( • A Belfast bakery had the right to refuse to bake a cake with a message supporting same-sex marriage, Britain’s Supreme Court ruled. [[The New York Times]( • Ten people were killed on the Spanish island of Majorca as torrential rains caused flash floods that washed away vehicles and engulfed a town in muddy water. [[The New York Times]( • Britain’s minister of loneliness has a new companion: a minister of suicide prevention, a post created in a wide government campaign to tackle mental health issues. [[The New York Times]( • German historians condemned an editorial by the leader of the Alternative for Germany party, saying his attacks on a “globalized class” echoed a speech by Hitler. [[The Guardian]( Smarter Living Tips for a more fulfilling life. Andrew Scrivani for The New York Times • Recipe of the day: Speedy dinners can have complex flavors, like [pasta with fried lemons and chile flakes](. • It’s never too late to hit your stride. [Here’s how to get started](. • Inexpensive improvements for any bathroom, [even if you rent](. Noteworthy Ksenia Kuleshova for The New York Times • Head to a nightclub in Munich and you just might run into people in 19th-century Alpine peasant garb. Dirndls[,]( lederhosen and the like [are now all the rage]( with Bavarian millennials. • It’s difficult for plants to reproduce. So they’ve evolved [clever advertising strategies]( to get specific animals to eat their fruits and spread their seeds. • Oscar Wilde Temple, an art installation celebrating the playwright and poet, will open in [a former chapel in London]( shining a light on gay rights. And in Overlooked, we revisit the life of Annemarie Schwarzenbach, a Swiss heiress and adventurous traveler whose writings, along with her androgynous glamour and troubled life, [made her a gay cult figure]( after her death. Back Story Singapore Airlines How does 19 hours on a plane sound? Singapore Airlines is bringing back [the longest flight in the world]( this week, nonstop from Singapore to Newark on a brand new kind of Airbus A350. (From 2004 to 2013, Singapore flew the route with a less efficient A340. Rising fuel prices ultimately made that operation uneconomical.) While it may be the longest flight now, 19 hours is nothing compared with some of its predecessors. In 1936, Pan American Airways started the [first passenger service]( between San Francisco and Manila — via Honolulu, Midway, Wake Island and Guam. The first leg of that trip alone was originally more than 21 hours. Just eight days after mail service began on that route a year earlier, The Times ran a headline exclaiming, “[CLIPPER TRIMMED SCHEDULED TIME]( Reached Manila From Alameda in 59 Hours 47 Mins., Instead of 60 Set, Musick Says.” Even then, airlines wanted to provide as fast a trip as possible. Their passengers probably would have loved seat-back TVs with video on demand, too. The ability of airlines to deliver fast, direct trips was — and is — constrained by fuel. As one analyst told The Times when Singapore retired its previous Newark-Singapore flights, “ultralong-haul flights like this are essentially flying jet fuel tankers.” Zach Wichter wrote today’s Back Story. _____ Your Morning Briefing is published weekday mornings and updated online. 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