Wall St. slides as Saudi Arabia, Italy add to economic concerns

(Worthy News) – U.S. stocks fell more than 1 percent on Thursday as the European Commission issued a warning regarding Italy’s budget and concerns mounted over the possibility of strained relations between the United States and Saudi Arabia, further denting investors’ appetite for risk amid global trade tensions and rising interest rates.

The benchmark S&P 500 index closed just above its 200-day moving average, a key indicator of long-term price trends.

S&P 500 technology and consumer discretionary stocks fell more than 2 percent, as did the tech-heavy Nasdaq. Among the S&P’s major sectors, only utilities and real estate, considered defensive, avoided losses. [ Source: Reuters (Read More…) ]

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U.S. closes diplomatic mission to Palestinian Authority, merges with U.S. Embassy in Jerusalem

(Worthy News) – The U.S. Consulate in Jerusalem primarily responsible for outreach to Palestinians will be absorbed by the U.S. Embassy in Jerusalem, Secretary of State Mike Pompeo announced Thursday, merging previously separate missions in an effort to increase “efficiency” and “effectiveness.”

The move changes the nearly quarter century mission for the consulate that served as the U.S.’s primary outreach to the Palestinian Authority and interacting with Palestinians in Jerusalem and the West Bank, as well as U.S. citizens.

“This decision is driven by our global efforts to improve the efficiency and effectiveness of our operations,” Mr. Pompeo said in a statement. “It does not signal a change of U.S. policy on Jerusalem, the West Bank, or the Gaza Strip.” [ Source: Washington Times (Read More…) ]

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U.S. closes diplomatic mission to Palestinian Authority, merges with U.S. Embassy in Jerusalem

(Worthy News) – The U.S. Consulate in Jerusalem primarily responsible for outreach to Palestinians will be absorbed by the U.S. Embassy in Jerusalem, Secretary of State Mike Pompeo announced Thursday, merging previously separate missions in an effort to increase “efficiency” and “effectiveness.”

The move changes the nearly quarter century mission for the consulate that served as the U.S.’s primary outreach to the Palestinian Authority and interacting with Palestinians in Jerusalem and the West Bank, as well as U.S. citizens.

“This decision is driven by our global efforts to improve the efficiency and effectiveness of our operations,” Mr. Pompeo said in a statement. “It does not signal a change of U.S. policy on Jerusalem, the West Bank, or the Gaza Strip.” [ Source: Washington Times (Read More…) ]

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Russia, Turkey extend deadline to clear Syria’s demilitarized zone

(Worthy News) – Russia and Turkey agreed Thursday to allow opposition groups more time to exit Syria’s western Idlib province as they work to establish a demilitarized zone, the United Nations said.

Jan Egeland, senior adviser to the U.N. special envoy for Syria, said it was a “relief” there had been no further violence in the region amid the attempt to set up the zone.

“The Russian and the Turkish side have indicated that indeed more time will be given to implement the agreement,” Egeland told reporters in Geneva. [ Source: UPI (Read More…) ]

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Trump says Saudi journalist likely dead, threatens ‘severe’ consequences

(Worthy News) – President Donald Trump said Thursday it “certainly looks” as though Saudi journalist Jamal Khashoggi is dead, and he threatened “very severe” consequences if the Saudis are found to have murdered him.

As the US toughened its response to Khashoggi’s disappearance, Treasury Secretary Steven Mnuchin pulled out of a major Saudi investment conference Thursday amid global pressure. However, Secretary of State Mike Pompeo also said the kingdom should be given more time to investigate before the US lays any blame or considers action.

Trump, who has insisted that more facts must be known before making assumptions about Khashoggi, did not say on what he based his statement on the writer’s demise two weeks ago. He commented as he left Joint Base Andrews for a political trip to Montana. [ Source: Times of Israel (Read More…) ]

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Saudi Arabia transfers $100 million to U.S. on day of Pompeo visit to discuss missing journalist

(Worthy News) – The United States received a payment of $100 million from Saudi Arabia on Tuesday, the same day Secretary of State Mike Pompeo arrived in Riyadh to discuss the disappearance of journalist Jamal Khashoggi, a State Department official confirmed Wednesday amid global calls for answers in the case.

Saudi Arabia publicly pledged the payment to support U.S. stabilization efforts in northeastern Syria in August, but questions persisted about when and if Saudi officials would come through with the money.

The timing of the transfer, first reported by The New York Times, raised questions about a potential payoff as Riyadh seeks to manage the blowback over allegations that Saudi agents were responsible for Khashoggi’s disappearance. The State Department denied any connection between the payment and Pompeo’s discussions with Saudi officials about Khashoggi, a Washington Post contributing columnist. [ Source: Chicago Tribune (Read More…) ]

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