Stocks plunge as new coronavirus cases rise; COVID-19 hospitalizations spike in at least 12 states; Trump to relaunch rallies on Juneteenth in Tulsa, site of 1921 race massacre;

The Lead with Jake Tapper

CNN

News

3.5 • 1.7K Ratings

🗓️ 11 June 2020

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

Top General: Taking part in Trump's photo-op was a "mistake"; Senate panel votes to remove confederate names from military bases, despite Trump's opposition; 3 top black officials in Dallas not invited to Trump event; Hospitalization spiking in Arizona, Texas, Florida & the Carolinas; Iowa state fair canceled for first time in 75 years; Nashville delaying next phase of reopening due to spike in cases; TX Health Official: COVID-19 "still a serious situation" as cases & hospitalizations increase; Tulsa police handcuff black teens for jaywalking; Human trials underway on antibody cocktail that may treat or prevent coronavirus; Moderna to start vaccine trial of 30,000 people next month; U.S. passes 2 million cases as some states see spikes; Arizona asks hospitals to activate emergency plans, 12 states see rising coronavirus hospitalizations; Minnesota Governor announces sweeping police reform plan; "Cops", "Live PD" canceled as backlash grows over "good cop" narrative; To learn more about how CNN protects listener privacy, visit cnn.com/privacy Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	This is CNN Breaking News.
0:06.0	Welcome to the lead. I'm Jake Tapper and we begin with breaking news. The Dow Jones about to close in just a moment plummeting more than 1800 points today.
0:15.3	Let's get right to CNN's Allison, Kausic Allison, this seems to be a dramatic end to stocks
0:20.5	rallying in recent weeks.
0:22.3	What's responsible for what happened today?
0:25.0	Jake, I think that investors
0:26.2	go up this morning.
0:27.2	I'm just fast at the pace that helps those
0:29.8	the reality.
0:30.8	The big big shock coverage, it's been driven by the new
0:34.4	fears of the virus impacting the economy again just as states are reopening and as new cases
0:41.4	are rising in many states. I think reality is really hitting home with investors
0:45.3	because if there's a second wave of the pandemic, there's concern that it could put the brakes on the economy again,
0:51.1	even when the economy is trying to pick itself up off the ground,
0:55.0	these huge losses really undermine that extreme
0:58.0	optimism that we've been seeing in the market lately
1:00.0	that had pushed stocks to a new record. We saw the Bass Act just a few days ago to a new record.
1:02.8	We saw the Masa like just a few days ago hit a new record.
1:05.5	The S&P 500, a beginning of a positive tariff year.
1:09.8	Certainly not helpful Federal Reserve Chair Jay Powell's comments yesterday, his assessment about the
1:15.2	prospect of recovery, Powell boarding that the economic recovery will likely take a long
1:20.2	time. That's what we're seeing today Jake, our investors literally taking
	...

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